Contents :
The high rate of dependence of the GCC economies on the oilwealth makes them vulnerable to international oil-price shocks. One of theimportant threats to the oil markets in the next two decades is seen by manyobservers to lie behind the international efforts to curb human sources ofgreenhouse gas emissions. If serious measures to reduce emissions from suchsources are implemented they would have significant impacts on oil exportersthrough their adverse effects on oil prices and these economies terms of trade.Thus some sort of international as well as domestic responses to amelioratesuch adverse effects are necessary to help these affected economies to copewith the climate change policy regime. This paper discusses the scale of theseadverse effects for the GCC economies and the possible provisions under theFramework Convention on Climate Change (FCCC) and the Kyoto Protocol that maybe invoked to mitigate these effects.