The current downward movements in the price of oil – a fossil fuel – may be a welcome relief but one swallow does not a summer make, and the question of the pricing of oil will always be a consumer concern, given the sorts of events which can have an adverse impact on the end price to the consumer.
To some extent, therefore, the pricing of oil is beyond our control, and it ends up being a take-it-or-leave-it scenario. The interests of the Organisation of Petroleum Exporting Countries may not always coincide with those of the small oil-consuming countries of this world, and we fall squarely into the latter category, even though we produce some oil ourselves.
We cannot therefore allow ourselves to be deflected from the path of pursuing the policy of renewable energy development, since the current downward trend in the price of oil may well flatter to deceive.
The Government must press on with what is, in principle, an enlightened and environmentally sensible policy.
Hence, the importance of the local policy and the engaging and interesting debate which it is generating. We have already shown that we are capable of changing the energy matrix by the ubiquitous appearance of the very efficient and cost effective solar water heaters. We have adapted an instance of cultural necessity and meshed it with science and nature to produce hot water for domestic use.
The old habit of leaving a metal container of water in the sun to be heated for what used to be a refreshing shower has been replaced by a mature industry which saves critical foreign exchange and provides employment, and is an inspiration to all who believe in taking the lemons of this life and making lemonade. Some call it cutting and contriving.
It is the Barbadian way.
But having led the way in producing efficient and price- sensible renewable energy, we must be clear on how we proceed from this point, because the aim to produce 100 per cent renewable energy, though very attractive and technically feasible, is still in the early stages of being worked at
We note the assertion of Professor Hohmeyer, an energy economics expert, who recently visited us and spoke on this matter. He thinks that within ten years we could supply all our energy needs from renewable sources. The cost would be US$1.8 billion. He argues it would lower electricity costs by about $150 to $200m per year. It is a very interesting prospect.
Governor of the Central Bank Dr DeLisle Worrell believes that we should focus more on producing electrical power using the sun’s energy. He thinks the vast energy generated on our rooftops is largely wasted, and that the capture of such energy would mean near self-sufficiency in energy. Both the Governor’s opinion and Professor Hohmeyer’s time frame will help to shape the debate.
Clearly renewable energy generation is an idea whose time has come. For a small nation bereft of traditional natural resources, year-long sunshine must now be elevated to the status of a natural resource and harnessed to our critical needs, whether or not the price of fossil fuels continues to fall.
As we debate, plan and build, one lesson must be constantly reinforced. We have to conserve our use of energy and cut out the considerable wastage of energy which is so commonplace today.
Eliminating wastage saves us recurrent costs. It will also save money when we construct new plants of any kind.
The success of our renewable energy policy may well be in the hands of every consumer.
