With regard to the increasing need of the human kind to energy resources, the extraction and exploitation of fossil energies such as oil and gas, has increased. During the extraction phase of petroleum and oil, a great amount of gas will be lost through flaring. Most of these losses, happens in developing countries which leads to dispersion of greenhouse gases. In this study, we try to investigate the long term relationship between the amount of gas flaring, the Oil Price, the amount of CO2 emissions and the total natural resources rent of the GDP. This study has been conducted in 8 developing countries which are from the most important oil reserves in the world, includes Algeria, Iran, Iraq, Kuwait, Qatar, Saudi Arabia, Russia and Tunisia. The dataset was collected in the period between 1994 and 2008. The results demonstrate the significant and meaningful relationship between the Price of Oil, the CO2 emissions and the total natural resource rent of the GDP and the amount of the gas flaring in the studied countries.