LAC countries urged to collaborate in defence of energy ambitions amid pushback from global north
A call made in the past, a call made at several other forums but it seemed more clarion and more appropriate coming from Trinidad’s Minister of Energy and Energy Industries, Stuart Young, as he took the stage at the ongoing Guyana Energy Conference and Supply Chain Expo to deliver his presentation – essentially a call to action for member-states of the Caribbean Community (CARICOM) and Latin America.
In the aftermath of the vulnerabilities the LAC region faced following COVID-19 and subsequently, the Russian invasion of Ukraine, Stuart’s call to action is simple but underscores the need for collaboration.
“My message is about us taking control of our own destiny.
“We are sophisticated enough, talented enough and it is time we have confidence enough to direct our decision making.
“So, let us collaborate a bit closer and learn from our experiences and have a unified voice as we go forward to ensure we protect our region.
“…Because if there is another global crisis…the outcome will be no different to [COVID and Russia/Ukraine war],” Young said in a presentation to highlight the vast national resources of the LAC region member states and what can be achieved unity.
This would mean developing a bloc that can provide for itself and stand up against the nations of the world which are characterized by a high level of economic and industrial development and are typically located to the north of less industrialized nations.
He pointed to how small developing countries are being forced into a skewed system of resource management while wealthy developed countries continue to use resources from the region to stay wealthy and influential.
Labeling himself a personal advocate and believer in collocation, Young told those present in the room on day two of the conference it is a fact that LAC member states, hold the opportunity, right in their hands, to influence global energy security.
Together, the LAC region contributes less than three per cent of global emissions, but despite this, Young said they find themselves on the cusp of developed countries making decisions that will affect regional states’ move to exploit its petroleum which is in turn seen as an energy source.
To make his point, the T&T MP noted the introduction of a carbon tax on products coming from the region, making it more difficult and less competitive.
He noted too the investment needed to transition to renewable energy and scrap old electricity grids heavily dependent on fossil fuels but offered full support for the push towards renewables.
“…US$14 billion is needed to move Caribbean island states to renewables…that is not realistic because when you look at the financials to change… it isn’t there based on population size but we hold part of the solution in this dilemma.
“If we collaborate together, it can only strengthen our voice and positions as we operate in the dynamic world of energy,” Stuart added.
To solidify his point, he pointed to the ongoing collaboration between Guyana, Suriname and Trinidad and said even as he makes the case for exploitation of resources, it comes with a call for responsible exploitation.
But again, Stuart did not stray from the core message of his presentation.
“I am convinced it is about collaboration.
“I have made the plea and cry at global forums and to my Latin American colleagues [because they too pursue energy security],” the Trinidadian Energy Minister noted as he pivoted Trinidad as one of those regional countries with established capacity and ready to help this regional movement.
