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EU Aviation Carbon Tax to Impact Oil Demand, Saudi Adviser Says - Bloomberg

Saudi Arabia, the world's biggest crude exporter, opposes the European Union's levies on airline emissions as they "will impact oil demand," according to an economic adviser to the petroleum ministry.

"It isn't under any climate agreement," Mohammed al- Sabban said at a conference in Jeddah today. "It isn't under any international system. So that is why it has been objected, not only by the U.S. but other countries. The pressure is huge for Europe to revise their position, and I think they will do that.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman
by dvx (dvx.clt št gmail dotcom) on Sun Mar 4th, 2012 at 12:52:18 PM EST
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