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  1. Energy Future In The Cayman Islands The Cayman Institute 2. The Issue <ul><li>The United Nations has declared that small island states are vulnerable to…
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  • 1. Energy Future In The Cayman Islands The Cayman Institute
  • 2. The Issue <ul><li>The United Nations has declared that small island states are vulnerable to economic and social collapse due to the instability of imported petroleum energy resources. </li></ul><ul><li>It is acknowledged by all scientists that fossil fuel supplies “WILL RUN OUT”. The only dispute is when. The best estimates are in less than 40 years. </li></ul>
  • 3. Agenda <ul><li>Energy Security </li></ul><ul><ul><li>Why is it important? </li></ul></ul><ul><ul><li>How is it achieved? </li></ul></ul><ul><ul><li>What will it cost us? </li></ul></ul><ul><li>What we’re asking Government to do. </li></ul><ul><li>How will Cayman benefit? </li></ul><ul><li>The Economics </li></ul><ul><li>Summary </li></ul>
  • 4. Energy Security <ul><li>Maintaining access to affordable, energy resources in quantities necessary to protect Cayman’s national interests. </li></ul>
  • 5. Why Energy Security is Important <ul><li>If petroleum supply is negatively affected, Cayman’s entire way of life is threatened. </li></ul><ul><li>All of Cayman’s Water, Cooling, Transport and Electricity are all currently dependent upon oil. </li></ul>
  • 6. Why Energy Security is Important 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     
  • 7. Benefits How Do We Achieve It Total Energy Security In Cayman 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 Stakeholders PR Campaign
  • 8. The Look of Tomorrow’s Energy
  • 9. 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 Costs Benefits What will this cost?
  • 10. What Government Could Do Provide Incentives   Establish Partnerships Draft Energy Legislation Members Motion                                                                               <ul><li>Create Energy Policy </li></ul><ul><li>Empower Energy Task Force </li></ul><ul><li>Use Volunteers </li></ul><ul><li>Follow International Examples </li></ul><ul><li>Local Companies </li></ul><ul><li>Businesses in energy </li></ul><ul><li>Carbon Credits </li></ul><ul><li>United Nations Development Program </li></ul>Energy Security __________________ = VALUE for Cayman <ul><li>Duty Free Renewable Products </li></ul><ul><li>Discount for Renewable Licensing </li></ul>How Much Does Cayman Risk – If It Won’t Act To Protect Its Way Of Life?
  • 11. What Would the Policy Provide <ul><li>Vision for Fossil Fuel Energy Independence By 2020 </li></ul><ul><li>Competition Statement for the Generation & Distribution of Energy </li></ul><ul><li>Outline for Selling UK KYOTO Carbon Credits for Cash </li></ul><ul><li>Promotion of Island Wide Alternative Energy Solutions </li></ul>
  • 12. What Could the Legislation Provide <ul><li>The Immediate Importation of Alternate Fuel Vehicles </li></ul><ul><li>Energy Sales from Feedback to Grid </li></ul><ul><li>Term Limit for Duty Free Imports of Alternative Energy Products </li></ul><ul><li>Increased License and Duty on Fossil Fuel Vehicles </li></ul>
  • 13. The Economics Make Sense <ul><li>Hundreds of Millions Available to Assist Countries Achieve Energy Independence </li></ul><ul><li>New Revenues from Hybrids and Alternate Fuel Vehicles </li></ul><ul><li>New Business Opportunities in Commercial, Residential and Government Installations </li></ul><ul><li>Reduced Energy Costs for Everyone </li></ul>
  • 14. Summary – Benefits To All Guaranteed Supply of Fuels Lower Overall Costs for Energy Increased Revenues for Govt. Sustainable Economic Viability Energy Independence Responsible Environment Mgmt ENERGY POLICY & LAW PROTECTED WAY OF LIFE
  • 15. Thank You
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