The secret plan to ‘hook’ the developing world on oil - podcast
The secret plan to ‘hook’ the developing world on oil - podcast | Australia news | The Guardian
As the Cop28 climate summit meets in Dubai, a secret Saudi Arabian plan to get poorer countries ‘hooked on its harmful products’ has emerged. Damian Carrington reports
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Delegates from every country in the world are meeting at the Cop28 climate talks in Dubai, hosted by the United Arab Emirates. The scale of the challenge ahead of them is immense: phasing out the fossil fuels that power the global economy before a planetary tipping point is reached.
As the Guardian’s environment editor, Damian Carrington, tells Michael Safi, that task has got even tougher. It has emerged that Saudi Arabia is driving a huge global investment plan to create demand for its oil and gas in developing countries. Critics say the plan is designed to get countries “hooked on its harmful products”.
Meanwhile, it also emerged that, according to leaked documents, the hosts of the UN Cop28 summit planned to use climate meetings with other countries to promote deals for UAE oil and gas companies.
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Related Knowledge Center: ENERGY BASICS: petroleum
While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.