Climate Change Threats, Opportunities, and the GCC Countries
Originally posted April 2008
Oil and gas revenues for GCC countries have enabled exceptional and accelerated development in all aspects of life. These countries have become a hub of intense activity in many spheres—geopolitical, military, economic, industrial, construction, and tourism, to name a few. However, the scale of oil and gas production and use has also led to severe environmental problems.
“In the past week Iran’s president, Mahmud Ahmadinejad, has damned it as a ‘worthless piece of paper’ and China’s premier, Wen Jiabao, has moaned that it is causing his country ‘big pressure’. The dollar’s relentless decline—it hit a new low of $1.49 against the euro on November 21st—is prompting jibes from America’s critics, jangling investors’ nerves and giving policymakers headaches.”[1]
