CALL: 1-876-927-1779 | CARIBBEAN PETROLEUM UPDATE : APRIL 2015
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CARIBBEAN Petroleum Update A Publication of the Caribbean Energy Information System (CEIS)
APRIL 2015 ISSUE
Sustainability Through Energy Efficiency in the Transport Sector
Fossil fuels have been the world’s major commercial energy source for many decades and the consensus view is that it will maintain this leading role well into the 21st century. Currently, Oil accounts for around 40 per cent of the world energy mix. This is because it is a unique commodity with a combination of attributes which far exceeds that of any other energy source. It is sufficient, accessible, versatile, easy to transport and, in many areas, low costs. These have been complemented by a multitude of practical benefits that can be gained from decades of intensive exploitation and use in the industrial, commercial and domestic fields. The Caribbean nations, especially the OECS are almost entirely dependent on fossil fuel as its primary source of energy. In this light, many Caribbean governments have embarked on long term approaches to energy security in an attempt to achieve greater efficiency of energy resources on both the supply/production and demand/consumption side.
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In these Caribbean countries the promotion of energy diversification is a significant aspect of many of the energy policies developed as well as developing indigenous sources of energy. Many of the energy efficiency policies are being directed to the electricity sector in Caribbean countries. The electricity sector is the pivot on which the many other sectors operate and hence it remains a vital to Gross Domestic Product (GDP).While it is important to consider the high degree of correlation between the gross domestic product and electricity consumption, the transportation sector also plays a critical role in the movement of resources, goods and services hence transportation also contributes to GDP and also represent a critical component of any country’s sustainable development. However, within the Caribbean, less attention has been placed on reducing energy consumption within the transportation sector. In this issue of the Petrocontinued on page 2/
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