August 14, 2009

Oil revenue sharing stands the best chance of stopping wasteful energy use in the Gulf.

Sir Jim Krane in “America can stop the Gulf’s wasteful energy use” August 14, lambasts the United Arab Emirates “with their monster 4x4”, and wants the US, with its own so very heavy carbon foot print, to lean hard by means of nuclear energy agreement on the UAE´s ruling oil sheiks, to move it away from the fossil fuels.

One of Krane’s doubtful arguments is that although “raising energy prices would help” that is impossible because since the ruling sheiks “do not give their subjects a vote they must keep them happy in other ways”. For his information, in Venezuela, the citizens have the right to vote, but yet the price of gas-petrol, around $11 cents per gallon, is about 15 times lower than in UAE.

No, the best way to stop the gas-petrol waste is to allow the citizens to participate directly in the oil revenues… so that its waste hurts the citizen´s own pockets... but that would mean putting an end to oil-autocrats in UAE and Venezuela. Yes, and so what? An extra bonus... good riddance!