Saudi Arabia is gaining support from the Organization for the Petroleum Exporting Countries (OPEC) for its appeals to secure compensation for oil producing countries, as developed countries move away from oil towards greener energy sources. Abdalla Salem el-Badri Secretary-General of OPEC said in an interview with The Times that he would support Saudi’s claims for compensation if talks at next month’s United Nations Climate Change Conference in the Danish capital, Copenhagen, end with commitments to reduce oil consumption in developed countries. At least 193 countries are expected to take part in the conference as signatories to the United Nations Framework Convention on Climate Change, a treaty signed a decade ago, which some viewed as a critical turning point in global climate talks. According to the United Nations Framework Convention on Climate Change, tackling climate change is key to ensuring sustainable development, poverty eradication and safeguarding economic growth. Pressure to secure compensation for loss of oil revenue is mounting due to OPEC’s increased dependence on oil revenue, and a growing international support for green energy. Saudi Arabia first proposed a program for compensation in 1992, during the United Nations conference in Rio de Janeiro.
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