energy future
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Energy Future In The Cayman Islands
The Cayman Institute
The IssueThe Issue
The United Nations has declared that The United Nations has declared that small island states are vulnerable to small island states are vulnerable to economic and social collapse due to the economic and social collapse due to the instability of imported petroleum energy instability of imported petroleum energy resources. resources.
It is acknowledged by all scientists that It is acknowledged by all scientists that fossil fuel supplies “WILL RUN OUT”. The fossil fuel supplies “WILL RUN OUT”. The only dispute is when. The best estimates only dispute is when. The best estimates are in less than 40 years.are in less than 40 years.
AgendaAgenda
Energy SecurityEnergy Security Why is it important?Why is it important? How is it achieved?How is it achieved? What will it cost us?What will it cost us?
What we’re asking Government to do.What we’re asking Government to do.
How will Cayman benefit?How will Cayman benefit?
The EconomicsThe Economics
SummarySummary
Energy SecurityEnergy Security
Maintaining access Maintaining access to affordable, energy to affordable, energy resources in resources in quantities necessary quantities necessary to protect Cayman’s to protect Cayman’s national interests.national interests.
Why Energy Security is ImportantWhy Energy Security is Important
If petroleum supply is If petroleum supply is negatively affected, negatively affected, Cayman’s entire way Cayman’s entire way of life is threatened.of life is threatened.
All of Cayman’s All of Cayman’s Water, Cooling, Water, Cooling, Transport and Transport and Electricity are all Electricity are all currently dependent currently dependent upon oil.upon oil.
Why Energy Security is ImportantWhy Energy Security is ImportantCayman is subject to all of the following:Cayman is subject to all of the following:
Fluctuations in Fuel Prices
Interruptions in Supply
Loss of Existing Sources
Loss of Economic Viability
Negative Environmental Impacts
UK Govt.
Cayman Govt.
Key Industries
All Residents
Entrepreneurs
Energy Policy
Legislation
Regulation
Partnerships
Incentives
Lower Prices
Carbon Credits
New Govt. Revenue
New Businesses (JOBS)
Zero Emissions
BenefitsStakeholders
PR Campaign
How Do We Achieve It
Total Energy Security In Cayman
The Look of Tomorrow’s Energy
Again, this is a short term cost replaced with new business, new Caymanian jobs and new duty rates which are non existent today
The cost associated with Policy creation, legislation and regulation drafting and approvals
This is a short term incentive to get the public’s attention and to spur new business
Time
Revenue from CUC
Duty on Products
Short Term CostsShort Term Costs BenefitsBenefits
What will this cost?
What Government Could DoWhat Government Could Do
Provide Incentives
Establish Partnerships
Draft Energy Legislation
Members Motion
• Create Energy Policy• Empower Energy Task Force
• Use Volunteers • Follow International Examples
• Local Companies• Businesses in energy•Carbon Credits•United Nations Development Program
Energy Security__________________= VALUE for Cayman
•Duty Free Renewable Products• Discount for Renewable Licensing
How Much Does Cayman Risk – If It Won’t Act To Protect Its Way Of Life?
What Would the Policy Provide 1. Vision for Fossil Fuel Energy
Independence By 2020
2. Competition Statement for the Generation & Distribution of Energy
3. Outline for Selling UK KYOTO Carbon Credits for Cash
4. Promotion of Island Wide Alternative Energy Solutions
What Could the Legislation Provide 1. The Immediate Importation of
Alternate Fuel Vehicles
2. Energy Sales from Feedback to Grid
3. Term Limit for Duty Free Imports of Alternative Energy Products
4. Increased License and Duty on Fossil Fuel Vehicles
The Economics Make Sense
1. Hundreds of Millions Available to Assist Countries Achieve Energy Independence
2. New Revenues from Hybrids and Alternate Fuel Vehicles
3. New Business Opportunities in Commercial, Residential and Government Installations
4. Reduced Energy Costs for Everyone
Guaranteed Supply of Fuels
Lower Overall Costs for Energy
Increased Revenues for Govt.
Sustainable Economic Viability
Energy Independence
Responsible Environment Mgmt
EN
ER
GY
PO
LICY
& LA
W
PR
OT
EC
TE
D W
AY
OF
LIFE
Summary – Benefits To AllSummary – Benefits To All
Thank You
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