Free Markets, Free People
Saudis – “Subsidize Our Lifestyle!”
I‘m not sure the word “chutzpa” is appropriate when used in conjunction with Saudi Arabia, but it certainly best describes this particular idea:
Saudi Arabia is trying to enlist other oil-producing countries to support a provocative idea: if wealthy countries reduce their oil consumption to combat global warming, they should pay compensation to oil producers.
The oil-rich kingdom has pushed this position for years in earlier climate-treaty negotiations. While it has not succeeded, its efforts have sometimes delayed or disrupted discussions. The kingdom is once again gearing up to take a hard line on the issue at international negotiations scheduled for Copenhagen in December.
The chief Saudi negotiator, Mohammad al-Sabban, described the position as a “make or break” provision for the Saudis, as nations stake out their stance before the global climate summit scheduled for the end of the year.
“Assisting us as oil-exporting countries in achieving economic diversification is very crucial for us through foreign direct investments, technology transfer, insurance and funding,” Mr. Sabban said in an e-mail message.
Got that? The Saudis, who’ve been very happy over the past decades to be a part of a cartel that has cut off shipments of oil at times and limited oil production to drive up prices now are sniveling about the possibility that their revenue may be reduced as countries develop alternate energy sources? I’m laughing over here. Gee maybe if they hadn’t spent billions on spreading their radical brand of Islam they’d be in better financial shape.
What’s happened, however, is they have become accustomed to a particular style of life. They like having Filipinos and Indonesians waiting on them hand and foot and living in virtual slavery. They want to continue to spread their poisonous religion and have you pay for it. They enjoy the profligate life-style and by gosh, they expect you to continue to subsidize it.
“Make or break” provision? Be clear here – what they’re talking about is a subsidy paid out of taxes to pay for something they could have already done – “economic diversity”. The answer should be not only “no” but “hell no” followed by a good round of laughter at their expense.
Copenhagen is shaping up as a “loot the rich countries” forum and the number one target will be the US. Unfortunately we are represented by a political leadership that may capitulate on a lot of things which may potentially cost us trillions in the upcoming decades and help kill any nascent recovery or long-term economic growth before it can develop.