PM Skerrit’s presentation at CARICOM-US summit

PM Skerrit being welcomed to the summit by Jamaica PM Portia Simpson Miller while CARICOM Sec Gen Irwin LaRocque looks on
PM Skerrit being welcomed to the summit by Jamaica PM Portia Simpson Miller while CARICOM Sec Gen Irwin LaRocque looks on

EDITOR’S NOTE: On April 9, 2015, Prime Minister Roosevelt Skerrit delivered a presentation in Jamaica during a CARICOM-USA Summit on the group’s response to US President Barack Obama’s initiative on renewable energy. The Prime Minister’s full speech is below.

ENERGY

1. CARICOM Energy Situation

A stark reality for CARICOM countries is that we are dependent on imported oil and petroleum products for more than 90% of our energy services.

Though global oil prices are currently at a four-year low, our importation of oil and oil products have been a major burden on our foreign exchange earnings and
have tilted our balance of trade. High and generally unpredictable oil prices have consistently retarded the competitiveness of our region’s goods and services, which has negatively impacted extra-regional trade and stymied economic growth.

Fortunately, for most of us in the region, we have been able to secure a reliable source of oil and oil products from the Bolivarian Republic of Venezuela through the Petro Caribe initiative over the past 10 years. Petro Caribe also provided us with economic space to focus on the social and economic development of our respective countries. The Petro Caribe arrangement notwithstanding, the majority of CARICOM states have been aggressively pursuing the development and deployment of renewable energy and energy efficient solutions.

2. The Connection Approach

For CARICOM Member States, energy issues are inextricably linked to climate change. The transformation of our energy economies from one that is inefficient and mostly dependent on imported fossil sources which exposes us to the  uncertainties and volatilities of the global oil prices, to one that is efficient and based on clean, indigenous, renewable sources, will not only allow us to play our part in global climate mitigation efforts – recognizing that collectively, we contribute less than 0.2 % of greenhouse gas emissions – but also facilitate our ability to implement some of the measures that are necessary for climate adaptation.

Climate change, and the effects thereof, is the single largest threat to the sustainable development of each and every Member State of our Community. Our issues need therefore to be considered within, what may be termed, the Energy-Climate-Development (ECD) nexus.

3. A Call for Deeper Partnership

Over the years, a number of CARICOM member states have individually pursued the development and deployment of renewable sources of energy – from solar water heaters in Barbados, to geothermal energy development in the eastern Caribbean States of Dominica, Grenada, St. Kitts and Nevis, Saint Lucia, and St. Vincent and the Grenadines.

Other member states have opted to develop solar PV and wind energy in the case of Jamaica.

In 2013 CARICOM adopted the CARICOM Energy Policy and the Caribbean Sustainable Energy Roadmap and Strategy to serve as a platform upon which CARICOM can collectively deal with its energy challenge.

This approach, which integrates all the elements of the energy system, is an important part of the Strategic Plan of the Community and is necessary to foster our transition to a lowcarbon economy.

The C-SERMS will be the basis for action in sustainable energy development for the next decade and will be executed in partnership with the Member States with the aim of better coordinating our plans, strategies and investments in clean energy. Currently, CARICOM is discussing the establishment of a central coordinating mechanism to serve as the hub to mobilize technical and financial resources and to coordinate the partnerships with third states and development partners.

We look forward to the key role that the United States, through its various agencies – in particular, the Department of Energy, the respective national laboratories and the Overseas Private Investment Corporation (OPIC) – will play in assisting us to realize the opportunities for clean energy deployment under the C-SERMS.

There is significant scope for Member States to curb energy demand growth by making economies as efficient as possible while, simultaneously, meeting some of the essential energy needs through low carbon renewable options. Significant economic gains can be made through the energy savings from energy efficiency and the substitution of imported oil with cost-effective, indigenous, renewable sources of energy. In a limited number of Member States, natural gas may be used as a “bridging fuel” to support base load power generation during the transition period.

We therefore, place a very high priority on the development of cost-effective renewable energy sources, including options for geothermal, hydro and ocean power and waste-to-energy for base load electricity generation, and seek to complement those with intermittent power as from solar and wind.

To unlock our renewable energy potential, however, we need to invest in research and development to determine the best fit for our respective member states. The upfront investment, unfortunately, is costly and can also carry with it some risks that the private sector is not prepared to meet or would only do so at a high cost to the consumers.

Upfront investments, to a great extent, have become the responsibilities of member governments. A case in point is my own country, Dominica. We have invested close to USD 20 million to determine the commercial viability of our geothermal energy and we are now on the cusp of eliminating our reliance on fossil fuel for generation of electricity.

The majority of our investments, like is the case for other member states, is for the procurement of goods and services from outside our region, including the United States.

There is, therefore, a need to partner with the United State to carry out feasibility studies that can create bankable renewable energy projects for which private sector financing can be sought.

Once projects have been made bankable we have found ourselves with the difficulties of sourcing the necessary financing and entering into partnerships with the private sector. Our interests must always be protected. Consequently, there is need for the creation of a special financing facility to fund the renewable energy projects.

The Caribbean Development Bank (CDB) has recently demonstrated its commitment to finance renewable energy projects and to this end has created a special energy unit and facility.

The CBD, however, does not have adequate resources to finance the projects that can transform the energy sector in our region. A special facility from the United States to capitalize a renewable energy revolving fund of about USD 2 billion would make financing more readily available to CARICOM and at the same time build the capacity of our regional experts. This could also be done in partnership with US government and private sector facilities and institutions.

The role of OPIC in supporting the current expansion phase of the Wigton Windfarm in Jamaica, as part of a dedicated facility for sustainable energy investments in the Caribbean, is indicative of the partnership we desire.

The Multi-Donor Energy Co-Financing Facility for Caribbean Sustainability, which is being championed by Trinidad and Tobago and is seeking already to raise USD 1 billion in grant and investment capital from multiple and diverse donor countries and institutions, is an indication of our resolve to tackle squarely, one of the major barriers to clean energy development within CARICOM.

We also recognize that Public Private Partnerships (PPPs) can help to unlock the financing that is required to implement these projects. In order to protect the interests of our people, however, there is need for honest brokers on the side of our governments.

The Wigton Windfarm, like the Dominica and Saint Lucia geothermal development projects, has benefited and continues to benefit from the Clinton Climate Initiative, part of the Clinton Foundation for the past 3 years as an advisor and honest broker. We look forward to this and other partnerships from the United States to provide support to our governments especially when negotiating complex renewable energy projects with private sector companies.

We look forward therefore to the implementation of the declarations of the Caribbean Energy Security Summit, to build the necessary capacity within our region and to mobilize the required financial resources to transform our energy sector.

Finally, we seek the support of the United States in mobilizing climate adaptation financing for CARICOM Member States under the new climate deal that is expected to be concluded at the December 2015, COP-21 Meeting in Paris. This is relevant to the security, climate resilience building and sustainable development of our respective countries and no doubt, affects the prosperity and stability of the Region.

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20 Comments

  1. Music Producer
    April 13, 2015

    Allu really are as blind as bats! This meeting had nothing to do with anything about the above mentioned headlines. Certain PMs of Cari-GO* voicing support for Venezuela, denouncing the ill treatment Venezuela is receiving from empire, and empire is not at all pleased with the noise Cari-Go is making in support of Venezuela…this is all a smoke screen and allu will pay for it, just you wait and see.

  2. Catarina
    April 11, 2015

    Ditto! Ditto! Ditto!

  3. zamm
    April 11, 2015

    This roaming PM is all over the place except Dominica.
    He has been touring the world begging for grants n easy money. HE has Dominica running on.autopilot.
    This speech was prepared by the speech makers , so what can he boast of.
    This Pm, oh my.gosh must be voted out of Office…

  4. Kid On The Block
    April 10, 2015

    Eh bien look it! 2020 we doing it again. 5 more years. Just keep up the good work PM. While He(The Novice) and D Boys in the States liming, (Obama leave there for them), You are engaging with the most powerful leader of the world(Obama) on behalf of DA and the rest of the Caribbean. Big up. Who Jah bless, The Blues cannot curse :-D

  5. A Doubting Thomas
    April 10, 2015

    What is the reading and meaning about a prophet is honoured everywhere but his own hometown?

    Most of us are so very proud of you Honourable Prime Minister. There will always be the naysayers but not thank goodness enough of them to prevent you from accomplishing what you have been anointed to do. God will continue to guide and protect you as you do what he wants you to do.

    And CARICOM is something wonderful that we can come together as a group; our voices are stronger when we stand together.

    It is great to have President Obama visit the Caribbean.

    • Titiwi
      April 10, 2015

      Anointed Thomas? Boy that is really scary. You really mean to say that Roosevelt was anointed by God to be our leader? I don’t know which church preaches that but I would not want to be part of its congregation. Roosevelt Skerrit is an ordinary human being like you and me with his faults and failings like everybody else. Please, don’t turn him into a saint before his death because that is blasphemous.

    • Music Producer
      April 13, 2015

      8-O ha, ha, ha, ha! LOL :-D Wheel and come again! :mrgreen: Not by a long shot

  6. Kid On The Block
    April 10, 2015

    “Welcome massive! Wha go DA? Big up PM, YOU are the man! Respect bother!” :-D :-D

  7. Proud
    April 10, 2015

    Thanks for representing. I am proud of you. Very statesman like.

  8. LANLU
    April 10, 2015

    we are dependent on fossil fuel because its a way to constantly reap money from the poor people of dominica… he said, Though global oil prices are currently at a four-year low. and we are not seeing any significant changes in our gas price… I remember when gas used to be about 6.75 a galoon the price per barrel was about 48.00 dollars. the price per gallon still remained at over 10 dollars…
    THE GOVERNMENT WILL NEVER GO AFTER WIND AND SUN ENERGY. PETROCARIBE IS THEIR CASH COW…
    SUN AND WIND IS FREE. FUEL IS TAXES AND MORE TAXES FOR THE GOVERNMENT, LACK OF VISION IN DEVELOPING OTHER ENTITIES WHICH CAN BRING IN REVENUE..

    • April 10, 2015

      At this point, I think everyone knows Petrocaribe is doomed. The only question is how to move forward. I would agree that solar, wind, tidal, and geothermal should all be on the table. Moreover, if Brazil can move to a system where vehicles run on domestically produced sugarcane ethanol, is that something that might work in Dominica?

      • LANLU
        April 10, 2015

        that is true but as I said those initiatives have no import and other taxes from which out visionless government will benefit financially.
        our sole income is from an over taxed citizenry and sales of passport..

        ONCE PETROL IS INVOLVED, GREEDY MEN WILL BE VERY HAPPY MEN.

    • joe
      April 10, 2015

      We have already spent over $54M on Geothermal energy development why aren’t you saying that?? By 2016 Dominica will be fossil fuel free —– well not 100% as we do have lots of vehicles!!!!

      • Titiwi
        April 11, 2015

        Joe, we are not shouting about that because all we have right is one massive expensive hole…a 50million dollar hole garcon, that smelling of rotten eggs. Who has an expensive hole like that again my boy? I sure hope they can turn that smelly hole into a fortune. Till then I’m not bragging Joe.

  9. Malgraysa
    April 10, 2015

    This is a follow-on from the Caribbean Energy Security Summit, hosted by the U.S. State Dept. in Washington in Jan. of this year, attended by Hon. Francine Baron on behalf of P.M .Roosevelt Skerrit, and the preceding Caribbean Energy Security Initiative, announced by V.P. Joe Biden in June 2014. This is very much a U.S. initiative and the added difference is that clearly, in his address in Jamaica, P.M. Roosevelt Skerrit is seeking more financial assistance from the U.S.A. in particular.
    I would recommend you also read the press release put out by the U.S. Dept. of State on 26 Jan., 2015 under the heading “Fostering a cleaner and more sustainable Energy Future in the Caribbean”. We should not sit on our laurels, commence our own initiatives and not wait for assistance from possible donors, which will in fact be more forthcoming if we do demonstrate a greater degree of self-help. The U.S.A. will help if we help ourselves, that is the message I took away from Pres. Obama.

    • Two cents
      April 10, 2015

      Francine Baron also accompanied PM Skerrit to the Jamaica meeting.

      • Titiwi
        April 10, 2015

        Is that true? What is going on? Why were we not told?

    • fantastic4
      April 10, 2015

      remember he is reading a script on behalf of CARICOM governments and not necessarily from his own beliefs or convictions; because we all saw what the reaction from CARICOM WAS after his so called lecture on ‘Foreign Affairs’ in Grenada earlier this year. SO luckily for us Skerrit had to read what was prepared for him by Larocque and the Secretariat else mister if he had to talk on his own accord; mister would embarrass us boy!!!

      • forreal
        April 11, 2015

        wow why I didn’t think about that,you are so patriotic and love your own people,boy I tell you,familly of Dominicans like you all,who needs an enemy

      • Observer
        April 11, 2015

        I guess you would have liked it to be the other way around. Stop being a hater. That was a great speech irrespective of who wrote it.

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