Alternative source of energy an option
April 15, 2005
Alternative source of energy an option

Transport Minister Julian Francis has stated that this country is still paying lower prices for oil than some of the others in the region, and that the international pressures are difficult for small islands like St. Vincent and the Grenadines. {{more}}

Francis said government is having discussions with Petro-Caribee. There is supposed to have been a third meeting in November 2004, in the Cayman Islands but the hurricane devastated that country so that meeting was cancelled. He noted that Venezuela had problems with flooding and that meeting was also postponed.

He said Venezuela was the place to be holding discussions and government was looking at alternative sources for oil as the time had come for oil companies like Shell and Texaco to have competition to ensure consumers get better deals.

The minister said government could look into oil from Petrotrin from Trinidad and other regional sources to negotiate for them to come into this country and invest. He said most of these companies could come as CARICOM operators

to compete with Shell and Texaco for a gallon of gas.

He said the day is not too far off when this type of competition to develop since with the rise in the international market, smaller islands like St. Vincent may not only

look at alternative companies for oil, but also at alternative sources of energy, such as the wind or sea.

Francis said that although these plants for energy are expensive to build, they are cheaper for

consumers and a percentage of this alternative source of energy can be used.