The Saudis have stated their goal in maintaining current oil output and export volumes is to protect market share against foreign rivals. The Saudi’s rivals are not limited to other oil producers though, they are also striving to undermine clean energy technologies and climate change policies.
“Lower oil prices are going to make it more difficult to achieve climate-change goals,” said Alan Krupnick, co-director of the Center for Energy and Climate Economics at Resources for the Future, a nonprofit Washington research organization.
“In the short term, people will drive more. In the longer term, it can affect investment decisions,” Krupnick said. Some drivers and car-fleet managers will think twice about paying for zero-emission vehicles “because the cost savings will be lower.” – As reported by the Washington Post
(Source: The Energy Collective)