Saudi Arabian ruler King Abdullah has announced that the country will give $300 million towards research into lowering emissions.
The King made the announcement during a speech at a gathering of OPEC heads in the Saudi capital of Riyadh, saying: “We will give $300 million for research into helping the environment.”
OPEC had earlier announced that it supported the fight against global warming, and would support initiatives to help fight climate change.
The Saudi King’s gesture may seem like a positive step forward by some, but it seems almost laughable in light of other recent news involving the Saudi royal family. Airbus recently announced that Saudi Prince Alwaleed bin Talal was the first person to purchase their USD 319 M Airbus SAS A380 superjet, for use as a private plane.
With a list price of $319 million, plus Airbus’ estimate of several hundred million more to outfit the interior, the Prince’s jet will likely come in at around double the amount the King will donate towards emission lowering research. I guess we could think of it as something like a carbon credit. So, that’s $300 million worth of research for the millions of tons of CO2 the jet will rack up as it flies the Prince and his entourage around in a style befitting an oil sheik.
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