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

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PO

LICY

& LA

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LIFE

Summary – Benefits To AllSummary – Benefits To All

Thank You