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Oil Prices Crash To 1-Year Lows

Oil Prices Crash To 1-Year Lows

Oil prices have crashed to…

India Rankled by Western Criticism over Carbon Emission Goals

Citing a developed world’s unwillingness to transfer technology to developing nations to counter rising global greenhouse gas emissions, India has criticized Western foot dragging over the issue.
 
Indian Environment Minister Jayanthi Natarajan said while addressing the International Ozone Day celebrations in New Delhi, "The transfer of technology is a most important issue. And developed countries took the responsibility under the Montreal Protocol, which has not yet happened under other discussions that we are having. And this is the most important issue where I feel that the Montreal Protocol can serve as a model of international cooperation while addressing other serious environmental challenges," the Indian Press Trust of India news agency reported.
 
Natarajan observed that the Montreal Protocol, which deals with ozone layer depletion issues and has been broadly ratified, can serve as a model of global cooperation while addressing serious environmental concerns, adding that New Delhi will press for the developed nations to agree to a second commitment period of the Kyoto Protocol on greenhouse gas emission cut in the crucial Durban conference on climate change later this year.
 
Both India and China have roundly criticized provisions of the Kyoto accords, arguing that the unfairly penalize developing nations for their greenhouse gas emissions while favoring more advanced countries, which have both the technological and financial resources to meet the reduction goals outlined in the agreements.

By. Joao Peixe, Deputy Editor OilPrice.com



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