The RE in RERE

BU commenter sirFuzzy posted the following comment to the blog Prime Minister Mottley Talks Digital @BITT Conference.

@BU David, may i suggest a blog on REnewable energy. it is a longer term focus but it is a good “RE” with almost guaranteed payback.

With the trade wars between China and US adding pressure plus USA potential backlash on any country buying Iranian crude; the price of crude oil is 70+ on the world market and rising. That is having a big impact on Barbados and our economic prospects e.g. tourism; and the energy we consume to provide services on the rock etc. Barbados runs on fossil fuels for the most part.

In the medium term will BNOC be able to get its crude processed if PetroTrin closes it refinery?

JMT

Some credit must be given to the former government and a few private sector players for developing the renewable energy sector. One of the few good initiatives the former administration may lay claim.

The benefits of diversifying the energy sector is huge for Barbados given the high consumption of  fossil energy which has to be paid for with scarce foreign exchange we have been struggling to earn. Just look at the international reserves trendline of the last decade.

Barbados is described by the economists as an open economy most vulnerable to exogenous shocks to coin a term. It is not an export led economy therefore Barbados has to be ultra aggressive in rolling out initiatives like Renewable Energy to act as a buffer against the volatility of price movement in the oil market.

One of the reasons Prime Minister Mottley gave for allowing the country to slip into selected default (SD) was her concern that – as the hurricane season was upon us – if struck, it would precipitate a level of economic chaos given the falling foreign exchange reserves and high debt obligations to external creditors. She sought to get ahead of the the potential problem by negotiating debt restructuring with creditors. This was her call given her government’s 30 love mandate. Time will tell if it works out.

The BU community is insisting that she demonstrates a similar level of passion and leadership towards continuing to implement a relevant REnewable Energy program given the size of the national oil bill and the forex savings to be had supported by the need to diversify our energy supply.   The environmentalists and others with commonsense might suggest it is a good ‘fit’ for a SID to adopt a clean energy strategy. We also have developments in Trinidad and Venezuela to be urgent about implementing a sensible energy policy.

No long term economic stabilization and economic plan for Barbados can be constructed without including a smart strategy approach to energy policy. Successive governments have adopted a lazy approach to deconstructing the oil sector given the money interest. EMERA, SOL, RUBIS need we say more? It is easy to tax the sector to prop up the treasury while prominent others are always able to influence the decisions of government in theirnarrow interest.

Ministers Wilfred Abrahams and Kirk Humphrey have been trusted with the responsibility for energy AND the Blue economy respectively.    To date Abrahams has been consumed with plugging the holes in a leaking sewage line on the South Coast and Humphrey has been prolific in his visits to fish markets around the island while wearing nice suits. Time to leave those tasks to the others gentlemen and become more strategic to align with the pressing demands of state.The photo ops approach did not work for Esther Byer-Suckoo.

Mia Mottley has set the bar for her large Cabinet and supporting cast as to what is required. It is clear to the blogmaster who does not sit in Cabinet that she has done a reasonable job to articulate her vision for Barbados becoming ‘fit for purpose’ in quick time if we are avoid rivalling Zimbabawe in a race to the bottom.

Forget the RH histrionics and think RH instead.

 

92 comments

  • Thank you Wily.
    The ex-pol DelMaestro, isn’t too bright, but his brother the electrical contractor is sharper. Never understood their business angle, unless they had little white packages within the panel.

    Liked by 1 person

  • @Redguard

    A more laconic explanation is that Barbadians have been living above our means. We have exhausted our credit and now have a bad credit rating as a result. There is only one way to respond when this happens.

    Some adjustments have to be made to rebuild credit. Instead of coming to this realization with the evidence in the face, we have the same tired positions being offered. We have maxed out our credit, we cannot afford to print money, we have not been earning foreign exchange to pay the bills given our love for conspicuous consumption. As a consequence we have a deteriorating physical infrastructure and decline in the social fabric.

    Like

  • @David

    “Some adjustments” is the problem, it sounds like we have options.
    Before May 24 the rhetoric was Crisis, the sky is falling
    After May 24 it has become “we got this”, crisis averted, some adjustments to be made

    From where I sit the sky is still falling, we are still in a crisis and instead of preparing the country for the suffering that will come and needs to happen, what are we doing, naming an economic program after a sesame street character.

    Liked by 1 person

  • @Redguard

    The rhetoric of the campaign trail is always with us. Let us hope that after 10 years of nothingness Mia and her team understands the fierce urgency of now given the economic and social indicators which all point south.

    Like

  • @ Wily
    Duties on EVs are much lower than on similar ICE vehicles. …as much as 50% less.

    Like

  • Modern Barbados

    ” A criminologist is warning that gun violence has reached epidemic proportions and it is being compounded by the increasing presence of “dons” in communities.”

    Like

  • @ Redguard September 21, 2018 8:58 PM

    A planned and moderate devaluation in combination with lower import duties would help the local tourist industry. Currently Barbados cannot compete with Cuba, Dom Rep and Jamaica. Lower import duties on food, cars, building materials would compensate for the lower value of the BBD to some extent. I would like to remind you that food is now 30-50 % more expensive than in other CARICOM jurisdictions!

    AND: Devaluation would enable gov to print more money to pay all debts in BBD. Inflation would solve the internal debt problem.

    Politicians try to avoid the D-word, because it is evidence of their failed economic and financial policies. Devaluation also threatens those with big amounts of BBD in their pockets (= the local elite) and owners of houses with a mortgage on it (= the local middle-class).

    As told before, there is no historical example that a country with such high debt load, no growth and low productivity was ever able to avoid devaluation. Those who think that growth comes through singing in church, national pride, endless talk, another commission, another consultant, bragging about national education and hoping for the best are very naive.

    The peg undermines Barbados since 2008 when foreign investments stopped and the offshore financial sector started to fail. The peg is responsible for the excessive import duties and high taxes on consumer goods and cripples the export industries.

    The BIG question is if the positive effects of devaluation (tourism, debt) would be stronger than the negative ones (inflation, higher interest on mortgages). Nobody can answer this question for Barbados now. What we know for sure is that the present path with nearly 30,000 civil servants and many more working for the SOEs and many commissions (how many? another 30,000?) will lead Barbados down to Haiti and Jamaica.

    Liked by 2 people

  • Green Energy Mandates Are Making Poor People Poorer

    As green energy mandates and higher ‘eco’ taxes have driven up…

    Escalating electricity prices are regressive—poorer people pay a higher proportion of their incomes heating and cooling their houses than do richer people.

    Low-income folks also tend to live in draftier dwellings and retain older, less energy-efficient appliances and climate-control systems.
    Consequently, anything that raises the price of power will impose bigger relative costs on the poor.

    As renewable energy mandates and rising “ecological” taxes have driven up electricity prices, an increase in energy poverty has become a problem in countries such as Germany and the United Kingdom.

    There are varying definitions for the term, but the newly launched European Union Energy Poverty Observatory defines energy poverty as not being able to afford adequate warmth, cooling, lighting, or the energy to power appliances that guarantee a decent standard of living and health.

    One shorthand rule is that a household is energy poor if it must spend more than 10 percent of its income on power. The Observatory estimates that 50 million European households now qualify.

    Due largely to Germany’s Energiewende—a government-mandated transition from coal and nuclear to wind and solar power—German residential electricity rates have doubled since 2000….

    Read More @
    https://climatechangedispatch.com/green-energy-making-poor…/

    https://i0.wp.com/climatechangedispatch.com/wp-content/uploads/2018/01/germany-green-energy-dropping.jpg?resize=500%2C408&ssl=1

    Like

  • “Masked gunmen opened fire indiscriminately in a weekend shooting spree in the inner-city community of New Orleans, grazing at least one resident as she scampered for safety over a two-day reign of terror.”

    https://barbadostoday.bb/2018/09/25/terror-in-orleans/

    Like

  • @ Chairman Mao.

    Your people have a penchant for pretty terms that are “full of hot air and signify nothing”

    What does “re-imagine” mean Mia?

    Let me show you what it does mean to China for whom you are now playing a public relations game by floating a concept of having bajans speak Mandarin in 2020. Do you think that China, a country with 50,000 characters in its alphabet, is impressed with this posturing?

    They just bought 10 SU-35’s from Russia and have the United states in a furore over this arms sale.

    You do realise that Russia has sold the first and last shipment to China? cause dem SU-35s are dun re-engineered? dont you?

    But I digress and now return to the main topic

    “…Here’s a freight train that directly runs from Kouvola, Finland, to Xi’an, China. The trip takes 17 days. China says it’s faster than sea travel and cheaper than air…”

    The trip is 9,800 kilometers

    De ole man knows that this “Imagination” is outside the Thought Zone of your Thought Leaders.

    Mostly because of a little latin prefix called “re” which you guys play on because of the Rhi Rhi component and your “imagination” lolol

    “…re- Word Origin. a prefix, occurring originally in loanwords from Latin, used with the meaning “again” or “again and again” to indicate repetition, or with the meaning “back” or “backward” to indicate withdrawal or backward motion: regenerate; refurbish; retype; retrace; revert….” and all the fancy verbs your team has thought up to satisfy their egos.

    But the fact is that the substantive, appended verb, “imagine”, which you assuredly know its meaning, is an action word, and imputes a state that needs to come first Mia.

    You cannot get to a repeat action UNLESS YOU HAVE EFFECTED THE ORIGINAL ACTION FIRST.

    And that is one of the things you need first to ask yourself Chairman.

    Who thinks of these various initiatives (plural) first?

    Is this a quality that is evidenced in your cohort (nearly said horde; as in horde of wildebeests)

    Does such imagination permits you definitively, to identify which of your “Thought Leaders” have the nous to envision, and then execute, what is required? heheheheheh

    I thought not…

    Like

  • @pieceuhderockyeahright,

    “re-imagine” is ” just beyond your imagination “.

    Now I could say that I wish I could “re-imagine” Glennis and Fleur as my ex wives.

    Like

  • Address at the 73rd UN General Assembly by Barbados

    check it out on YouTube

    Like

  • ” Government was in the process of bringing legislation that would allow the Barbados Revenue Authority (BRA) to delegate authority to a third party for the collection of taxes online.”

    @ pieceuhderockyeahright

    “delegate authority to a third party”

    Like

  • @ Brother Hants

    I hope your current paramour ent see this post!

    Not only you have spoken of one of them but both of them whuloss…you is a cravatious man…you ent left one of dem for a next feller…how you get like dat doah…?

    De next ime you at one of them shows with you smartphone up in the air “focusing” on the performers I hope dat a high wind blow and lik you expensive Apple X out you hand and when um drop de crowd move de same time an mash pun um.

    heheheheheheh

    You see how them looking to shift the responsibility of active government functions to everybody but government?

    First of all she bring in Charles Me Love You Jong TIme!

    Den she bring in Rawdone from Canada and two more women de ole man cant remember dem names!

    Den she start streaming Government Business from the BLP Website …!

    And now she, according to you, “…bringing legislation that would allow the Barbados Revenue Authority (BRA) to delegate authority to a third party for the collection of taxes online…”!

    Tell me what Senator Caswell and the Illegal Impostor and Pretender to the Post of Leader of the Opposition (I call he dat cause Lorenzo you had Enuff? appointed me Leader of the Opposition) dat man Bishop Reverend Pastor Atherley doing though?

    de grandson send this to you Brother Hants…you going bet band for inciting people to do bad tings

    Like

  • @ the Honourable Blogmaster

    Your assistance please with a post for Brother Hants a felller who does goad on de ole man by these images of *** heheheheheheheh

    Like

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