(32c) Climate Change and the Persian Gulf Oil Producers

The increasing urgency of climate action is exacerbating uncertainty around future oil demand, a worrying prospect for Saudi Arabia and other governments dependent on oil export revenues. Persian Gulf producer countries are in a particularly tough situation. They stand to lose if climate action fails, due to a fast warming climate that could render their countries too hot for humans. They could also lose if climate action succeeds, given the level of government dependence on fossil fuel rents. This talk looks at the strategic, economic and political implications of climate change on the Persian Gulf oil producers, as well as the actions Gulf producers are taking to cope with the energy transition.