Finding alternative energy sources
THE COST of oil, using sweet crude, as an example, has increased from less than US$5 per barrel in 1930 to over US$30 per barrel in 2003, and the rise has continued to over US$50 per barrel in 2004 and 2005 with a record high of US$75 per barrel in 2006.
OUR VIEW
THE IMMEDIATE implication of rising cost of oil and the possibility of the declining of oil production over the next decade or so for Jamaica and many of the Caribbean islands is that the region shall not be able to meet its target energy demands.
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