Oil prices will rise again, Biden warns Caribbean

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Oil prices will rise again, Biden warns Caribbean

Bidenpic1JAMAICA OBSERVER – Vice-President Joe Biden has warned regional leaders that volatile oil prices will return. On this basis, he is urging them to use every opportunity to explore clean and alternative energy sources to bolster the prosperity of the Caribbean and Central America.

“This is a moment of opportunity to turn that progress into sustainable energy security that will endure when volatile oil prices return. And they will return,” Biden cautioned the heads of government during the US-Caribbean-Central American Energy Summit in Washington, DC, held earlier this month.

“The good news is that we’re at a nexus for transforming, with transformative opportunities here. Low oil prices mean more money this day is available for investment in new energy infrastructure,” said Biden.

“It’s equivalent to US$1 billion of stimulus just in the region [and] lower energy prices. Our abundance of natural gas provides a critical, clear transition fuel as we’re moving towards adopting renewable technologies.”

Biden said strengthening energy security was among the focus areas for himself and US President Barack Obama.

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  1. L.U.C.E.L.E.C. will you take me to court if I go off grid and 100% solar? I'm asking because I know plenty you have done that to...
    Mr. Biden should use Saint Lucia as it's case study. He would then understand that when you produce your own power in this country--businesses or individual household (but especially businesses)--they take you to court, in some cases force you to reconnect to their power grid.
    Why is it that in other countries (try Martinique for example) E.D.F. (the power company) pays you when you inject your surplus power--from a solar panel installation for example--back on to their power grid? In Saint Lucia, they take you to court.

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