Concern has been expressed by the Organisation of Petroleum Exporting Countries (OPEC) that efforts to reduce emissions of carbon dioxide could deprive the members of around $23 billion in lost revenues.
Proposals to reduce emissions of greenhouse gases commonly involve restricting the consumption of fossil fuels, a scenario OPEC would like to see carefully controlled on the grounds that several members are highly dependent on oil revenues. Proposals to reduce consumption in industrialised nations could see demand for crude fall by 6.5 million barrels per day by 2010, according to figures attributed to OPEC. The 11 members of the Organisation would like to see methods adopted to reduce greenhouse gas emissions that take into consideration all of the countries involved, including those within OPEC.
