{"id":31888,"date":"2016-11-04T10:26:57","date_gmt":"2016-11-04T10:26:57","guid":{"rendered":"http:\/\/www.climatechangenews.com\/?p=31888"},"modified":"2016-11-04T10:26:57","modified_gmt":"2016-11-04T10:26:57","slug":"paris-climate-deal-will-not-kill-fossil-fuels-says-ex-saudi-oil-chief","status":"publish","type":"post","link":"https:\/\/www.climatechangenews.com\/2016\/11\/04\/paris-climate-deal-will-not-kill-fossil-fuels-says-ex-saudi-oil-chief\/","title":{"rendered":"Paris climate deal will not kill fossil fuels, says ex-Saudi oil chief"},"content":{"rendered":"<p><strong>The oil and gas industry will thrive despite the UN\u2019s new greenhouse gas slashing pact, former Saudi oil chief and lead climate negotiator Ali Al-Naimi said on Friday.<\/strong><\/p>\n<p>Agreed by 195 countries in the French capital last December, the Paris climate deal sets out a target of zero net emissions from fossil fuels and other sources in the second half of the century. <a href=\"http:\/\/www.climatechangenews.com\/2016\/11\/04\/its-official-the-paris-climate-deal-is-now-international-law\/\" target=\"_blank\">It entered into legal force<\/a> on Friday.<\/p>\n<p>But speaking at an event in London hosted by Chatham House, Al-Naimi dismissed the notion this meant a slow but certain demise of the oil and gas sector, which underpins the Saudi economy.<\/p>\n<p>\u201cWe need to work hard to eliminate emissions but there is nothing wrong with fossil fuels,\u201d said the 81-year-old, who led the Saudi delegation at UN climate talks from 1995-2015.<\/p>\n<p>Al-Naimi pointed to Saudi investments in technologies that capture carbon dioxide and inject it into oil wells to extract more hydrocarbons as evidence the industry was adapting to a low-emission future.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">There&#39;s only *1* link you&#39;ll need for <a href=\"https:\/\/twitter.com\/hashtag\/COP22?src=hash&amp;ref_src=twsrc%5Etfw\">#COP22<\/a>. Bookmark it now <a href=\"https:\/\/t.co\/2WQUKsX9aq\">https:\/\/t.co\/2WQUKsX9aq<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/climate?src=hash&amp;ref_src=twsrc%5Etfw\">#climate<\/a> <a href=\"https:\/\/t.co\/2ysrLGJ0FP\">pic.twitter.com\/2ysrLGJ0FP<\/a><\/p>\n<p>&mdash; Climate Home News (@ClimateHome) <a href=\"https:\/\/twitter.com\/ClimateHome\/status\/792811983288561664?ref_src=twsrc%5Etfw\">October 30, 2016<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The remarks underline the deep challenges facing governments as they prepare for a two-week UN climate summit in Marrakech next week, where implementing the deal is a priority.<\/p>\n<p>Al-Naimi said the oil-rich kingdom supported last year\u2019s Paris climate summit, but admitted he had to fight off \u201cnonsensical\u201d efforts to keep fossil fuels in the ground to prevent dangerous warming.<\/p>\n<p>\u201cWork on emissions but don\u2019t talk about fossil fuels in ground, that would be a tragedy. We should eliminate emissions but if we [eliminate] fossil fuels we will go back to the stone age.\u201d<\/p>\n<p>\u201cI am a believer in solar &#8211; I believe it is making great strides today and we are going to see major breakthroughs hopefully soon, but that doesn\u2019t take away anything from fossil fuels,\u201d he added. This year, Saudi Arabia cut its renewable energy targets from 50% to 10%, protecting demand for\u00a0oil and gas.<\/p>\n<p>Leading oil majors are expected to announce plans for a renewable energy fund and new efficiency measures at an event in London later on Friday.<\/p>\n<p>Some are already making initial investments in clean energy technologies, although this week the CEO of Total Patrick Pouyanne <a href=\"http:\/\/uk.reuters.com\/article\/us-total-pouyanne-solar-idUKKBN12Y2BX\">told investors<\/a> the solar sector was facing a \u201cnew winter\u201d due to over-capacity and low demand.<\/p>\n","protected":false},"excerpt":{"rendered":"Influential former oil and climate envoy says solar is the future but predicts strong growth prospects for oil and gas sector, despite climate policies","protected":false},"author":2,"featured_media":28915,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2434,2554,4020,598,521],"tags":[80,662],"coauthors":[],"class_list":["post-31888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2c","category-carbon-bubble","category-cop22","category-fossil-fuels","category-middle-east","tag-oil-and-gas","tag-saudi-arabia","type-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Paris climate deal will not kill fossil fuels, says ex-Saudi oil chief<\/title>\n<meta name=\"description\" content=\"Influential former oil and climate envoy says solar is the future but predicts strong growth prospects for oil and gas sector, despite climate policies\" \/>\n<meta name=\"robots\" content=\"index, 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