Saudi Arabia Speaks Out Against Environmental Pact

Saudi energy minister says OPEC countries stood to suffer income losses in excess of $60 billion annually by the year 2010 if Kyoto accords enforced.

Published: 21-Nov-2000

HE HAGUE (Reuters) - Saudi Arabia lashed out on Tuesday at what it said was potential damage to its economy from a United Nations pact to stop climate change under negotiation this week.

"We cannot accept that the industrialized countries transfer the cost of reducing their greenhouse gas emissions to our countries by embracing policies and measures that would lead to reducing their imports of our fossil fuel exports on which revenues we depend to a great extent," Ali al-Naimi, Saudi energy minister, told the climate change talks.

Ministers from 185 countries are meeting in The Hague to hammer out the rules for implementing a 1997 agreement to cut greenhouse gases -- thought to contribute to global warming.

The pact would mean developed countries cut their emissions -- most of which come from burning fossil fuels -- by an average of five percent of 1990 levels by 2008-2012.

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