Climate action versus inaction: balancing the costs for Gulf energy exporters

Climate change poses a strategic dilemma for oil-exporting states of the Gulf. By sapping global demand for crude oil, climate action threatens the economic rents that underpin their governance and regime legitimacy. However, the Gulf states are also among the countries most exposed to physical risk...

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Bibliographic Details
Published in:British journal of Middle Eastern studies 2020-01, Vol.47 (1), p.117-135
Main Author: Krane, Jim
Format: Article
Language:English
Subjects:
Climate change
Diversification
Exports
Governance
Legitimacy
Petroleum
Politics
Rents
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Summary:Climate change poses a strategic dilemma for oil-exporting states of the Gulf. By sapping global demand for crude oil, climate action threatens the economic rents that underpin their governance and regime legitimacy. However, the Gulf states are also among the countries most exposed to physical risks of a warming climate and thus would benefit most from reducing ongoing accumulations of carbon in the atmosphere and associated adaptation costs. In other words, the political and economic risks of climate action run counter to the physical and environmental risks. These bifurcated interests differentiate the Gulf producers from oil exporters in more temperate regions, which would experience milder short-run damage-or even benefits-from a warming climate. A successful economic diversification strategy could address both physical and economic risks but would require structural changes in rentier governance.
ISSN:1353-0194
1469-3542
DOI:10.1080/13530194.2020.1714269