and other Gulf monarchies are caught between two daunting climate change scenarios that threaten their livelihoods.
“They need climate action to succeed without wrecking the oil market. That’s a tough needle to thread.” Gulf monarchies have used oil revenue to maintain domestic support, buy regional clout and expand influence. The money has built up national armies and provided citizens with cushy public sector jobs, free health care and higher education, subsidized fuel, land to build homes on, marriage dowries and generous pensions.
“It’s the biggest transformation that has ever taken place on this planet, since the industrial revolution, if we do it," Kerry said. Gulf Arab states are privately and publicly advocating for carbon capture technologies rather than a rapid phasing out of fossil fuels, warning that a hurried transition would leave poorer populations without access to energy.
Qatar Petroleum has already shipped one carbon-neutral cargo of LNG gas to Singapore and will be incorporating carbon capture technology in its expansion plans, according to a report by the Arab Gulf States Institute in Washington. Although all six Gulf states remain heavily reliant on fossil fuels for state spending, each has taken steps to try to diversify their economies, with Saudi Arabia and the UAE leading aggressive efforts to attract investment in new industries.
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