Minister of Petroleum speaks at climate change conference
December 18, 2009
Minister of Petroleum and Mineral Resources Ali Al-Naimi led the Saudi delegation to the 15th Conference of the Parties to the United Nations Framework Convention on Climate Change and the 5th Meeting of the Parties to the Kyoto Protocol, which began in Copenhagen, Denmark on Wednesday.
Addressing the gathering, Minister Al-Naimi insisted that any climate change agreement must fairly distribute the burden among the world’s nations. Countries should not adopt measures that discriminate against specific commodities and affect the balance of international trade, he added, pointing out that energy is key to global economic development.
Cautioning against the adoption of biased, protectionist trade policies against petroleum and other fossil fuel products, Minister Al-Naimi stressed instead the importance of promoting carbon capture and storage (CCS) technology and laws that force emission cuts. Increased foreign investment in and technology transfer to Saudi Arabia is a more productive strategy, he concluded, than a confrontational approach directed against oil-producing countries.