Venezuela

Against the Odds, Caribbean Doubles Down for 1.5 Degree Deal in Paris

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Nov 242015

By Zadie Neufville

KINGSTON, Jamaica, Nov 23 2015 (IPS) – Negotiators from the 15-member Caribbean Community (CARICOM) are intent on striking a deal to keep the global temperature rise at 1.5 degrees of pre-industrial levels, but many fear that a 10-year-old agreement to buy cheap petroleum from Venezuela puts their discussions in jeopardy. (…)

While agreeing that PetroCaribe could be a disincentive for investments in domestic renewable energy, Alexander Ochs, Director of Climate and Energy at WorldWatch Institute noted, “Caribbean governments are increasingly aware of the enormous financial, environmental and social costs associated with continued dependence on fossil fuels.” (…)

“Even if the problem of global warming did not exist, and the burning of fossil fuels did not result in extensive local air and water pollution, CARICOM would still have to mandate to transition away from these fuels as swiftly as possible for reasons of social opportunity, economic competitiveness and national security, ”said Ochs, one of the authors of the new Caribbean Sustainable Energy Roadmap and Strategy (C-SERMS) Baseline Report and Assessment, launched on October 28. (…)

Petrocaribe: Making Our Case For Us

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Feb 092011

The Worldwatch Institute has begun implementing a Low Carbon Energy Roadmaps project to help Caribbean Small Island Developing States (SIDS) transition to a low-carbon economy. Undertaking such a transition is an immediate imperative for these states. If they can capitalize on their indigenous, renewable resources they can reduce their oil imports, reduce exposure to volatile prices, and invest any saved money in other areas of their economy. Still, it’s always nice to have someone (or something) else burnish our argument.

In 2005, Venezuelan president Hugo Chavez initiated the Petrocaribe Energy Cooperation Agreement, an arrangement that allowed 12 Caribbean nations, including the Dominican Republic, to purchase oil at a subsidized cost. Nevertheless fuel prices in the D.R. have jumped 50 percent in the last two years. Gasoline and diesel currently cost around $4.60 and $4.16 per gallon, respectively. Dominican taxi and bus drivers have recently begun taking out their frustration over higher fuel costs on Venezuela, protesting outside the Venezuelan Embassy and demanding more information on the details of the Petrocaribe program. In response, Alfredo Murga, Venezuela’s ambassador to the D.R., pointed out that Dominican authorities set their own fuel prices based on international crude oil markets. In other words, even Petrocaribe does not protect Dominicans from the vagaries of oil prices. These developments only reinforce Worldwatch’s position: such complete dependence on oil for electricity in addition to vehicle fuel is untenable for the Dominican Republic.

[Read the full Re|Volt blog here]