http://www.dianaswednesday.com/2007/11/opec-summit-providing-petroleum-promoting-prosperity-protecting-the-planet/ Where the world comes together Thu, 04 Dec 2008 19:04:19 +0000 http://wordpress.org/?v=2.2.2 http://www.dianaswednesday.com/2007/11/opec-summit-providing-petroleum-promoting-prosperity-protecting-the-planet/#comment-743 Diana Thébaud Nicholson Tue, 20 Nov 2007 02:08:12 +0000 http://www.dianaswednesday.com/2007/11/opec-summit-providing-petroleum-promoting-prosperity-protecting-the-planet/#comment-743 <strong>OPEC Pushes for a Fund to Research Carbon Sequestration Technology</strong> While the Financial Times (and others) seems to think that this indicates a shift in policy by OPEC, “Opec’s approach is a significant departure from its previously sceptical attitude to the climate change debate, when it worried about the potential impact of alternative energies and energy savings on oil demand.” “The cartel is also expected to seek from consuming countries assurances that the global warming fight will not jeopardise crude oil demand while Opec nations are investing in capacity.” I think that it is actually an attempt to address the above stated worry; OPEC is positioning its products (fossil fuels) so that they can compete with alternative energy in a carbon-constrained world. Successful and economical CCS technology will put fossil fuels on even footing with alternative energy from an emissions standpoint. Lowering the risk of decreased fossil fuel demand in a carbon constrained world. <a href="http://www.climaterisk.org/2007/11/opec-pushes-for-fund-to-research-to-clean-up-fossil-fuels/" rel="nofollow">More from Climaterisk</a> OPEC Pushes for a Fund to Research Carbon Sequestration Technology
While the Financial Times (and others) seems to think that this indicates a shift in policy by OPEC,
“Opec’s approach is a significant departure from its previously sceptical attitude to the climate change debate, when it worried about the potential impact of alternative energies and energy savings on oil demand.”
“The cartel is also expected to seek from consuming countries assurances that the global warming fight will not jeopardise crude oil demand while Opec nations are investing in capacity.”
I think that it is actually an attempt to address the above stated worry; OPEC is positioning its products (fossil fuels) so that they can compete with alternative energy in a carbon-constrained world. Successful and economical CCS technology will put fossil fuels on even footing with alternative energy from an emissions standpoint. Lowering the risk of decreased fossil fuel demand in a carbon constrained world. More from Climaterisk

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