OPEC leader calls for more clean-en­ergy re­search money

The Weekend Australian - Travel - - Resources -

GLOBAL spend­ing to fund re­search and de­velop clean-en­ergy tech­nol­ogy aimed at curb­ing cli­mate change should in­crease, says OPEC sec­re­tary-gen­eral Ab­dalla el-Badri. OPEC mem­bers Saudi Ara­bia, Kuwait, Qatar and the United Arab Emi­rates have to­gether com­mit­ted $750 mil­lion to study cut­ting car­bon emis­sions, ElBadri says.

The Or­gan­i­sa­tion of Pe­tro­leum Ex­port­ing Coun­tries sup­plies more than 40 per cent of the world’s oil.

The UN has called for in­dus­trial na­tions to cut emis­sions, blamed for con­tribut­ing to global warm­ing, by 25-40 per cent by 2020. The body wants emerg­ing economies such as China to agree to take mea­sur­able steps to re­duce global warm­ing pol­lu­tion, and for a re­duc­tion in emis­sions from de­for­esta­tion.

UN pro­pos­als also urge emis­sions to be cut in half by mid-cen­tury. ‘‘ I would like to see an ex­am­ple where ev­ery­body will be a win­ner,’’ el-Badri says of the prospects for suc­cess at the Bali talks. ‘‘ We hope the coun­tries will try to co-or­di­nate re­quests for de­vel­op­ing coun­tries.’’

At OPEC’s Novem­ber heads of state sum­mit, Saudi Ara­bia pro­vided $300 mil­lion to set up a fund that will study ways to re­duce car­bon diox­ide emis­sions by de­vel­op­ing tech­niques such as gas un­der­ground se­ques­tra­tion.

Qatar, Kuwait and the U.A.E. agreed to put $150 mil­lion each to the fund.

EL-BADRI says in Bali that crude oil prices ‘‘ are suit­able.’’ Prices are down more than 10 per cent from the record $US99.29 reached on Novem­ber 21.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.