David Victor Discusses Saudi Arabia's Stance on Oil in New York Times
10/13/2009
Jad Mouawad and Andrew C. Revkin,
The New York Times
Saudi exports are expected to drop to $115 billion this year, after oil prices fell. American gasoline prices are hovering around $2.50 a gallon.
The one-year swing in the kingdom’s revenues shows that oil prices are likely to be a bigger factor in Saudi Arabia’s future that any restrictions on greenhouse gases, said David G. Victor, an energy expert at the University of California, San Diego.
Mr. Victor dismissed the Saudi stance as a stunt, saying that the real threat for petroleum exporters came from improvements in fuel economy and rising mandates for alternative fuels in the transportation sector, both of which would reduce the need for petroleum products. “Oil exporters have always, in my view, far overblown the near-term effects of carbon limits on demand for their products,” Mr. Victor said.
Click here to read the full article and the rest of David Victor's comments.
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David Victor is director of the Laboratory on International Law and Regulation, based at the School of International Relations and Pacific Studies.
Click here to visit David Victor's website.
