OPEC will support efforts to combat climate change and maintain stable oil prices after its heads of state meeting concludes on Sunday. Currently, only Saudi Arabia has promised to contribute $300 million towards environmental research. Other leaders have not made similar commitments, with Algerian Energy and Mines Minister Chakib Khelil stating that they are not committing to anything until they know the full proposal. It appears that no other countries within OPEC have pledged financial support at this time. OPEC Secretary-General Abdullah al-Badri stated this week that OPEC would be willing to contribute to the development of carbon capture and storage technology in order to help decrease emissions. A draft final communique, as read by an OPEC delegate over the phone, mentioned that the group shares the international community's concern about the long-term challenge of climate change and aims for stability in global energy markets, without mentioning an environmental fund. Venezuelan President Hugo Chavez anticipated that the summit would reaffirm a commitment to stable and competitive oil prices. He cautioned that if the United States were to attack Iran or Venezuela, oil prices could potentially double from the current $100 per barrel to $200 on the global market. Chavez conveyed this message to fellow heads of state, including Iranian President Mahmoud Ahmadinejad, at the summit in Riyadh, Saudi Arabia. Concerns about a potential attack on Iran by the United States or Israel, due to suspicions of covert nuclear weapon development, have contributed to the increase in world oil prices. Despite calls for OPEC to increase crude supply to stabilize prices, a decision on this matter will be postponed until a meeting in Abu Dhabi on Dec. 5. Iran and Venezuela are reluctant to raise output, while Saudi Arabia has been more willing to comply with Western requests to lower prices. Ecuador's President, Rafael Correa, suggested at the conference that oil should be priced in a currency other than the dollar. The decline in the value of the U.S. currency compared to other major currencies has contributed to the rise in oil prices to $98.62 last week, while also diminishing the purchasing power of the Organization of the Petroleum Exporting Countries. During the summit, Saudi Arabia led the group in rejecting a proposal by Iran and Venezuela to address concerns about the weakening dollar in the summit's official statement. Analysts believe that Saudi King Abdullah, a key U.S. ally and influential figure within OPEC, is eager to prevent leaders like Chavez and Ahmadinejad from overshadowing the summit with their anti-U.S. rhetoric. Despite Chavez's lengthy speech advocating for OPEC to combat global poverty, King Abdullah remained unimpressed and even joked with the Venezuelan president afterwards. The summit took place in a lavish hall adorned with crystal chandeliers and gold leaf decorations, as Chavez emphasized the importance of OPEC taking a leading role in fighting poverty worldwide. Ahmadinejad called for OPEC to take a more active role in geopolitics and to demand greater respect for their countries, while also urging powerful nations to stop threatening the organization. He stated that he would share his opinions on the matter at the end of the summit. In an attempt to ease tensions between the United States and Iran, Saudi Arabia proposed establishing a consortium to supply Iran with enriched uranium for peaceful purposes. Despite this offer, Iran has asserted that it will not cease its own enrichment activities. Concerned about Iran's potential nuclear capabilities, Gulf Arab countries, including OPEC members Saudi Arabia, Kuwait, Qatar, and the United Arab Emirates, have announced plans to launch their own nuclear energy programs.