Minister Paulwell observed that Petrojam purchased oil at $43.00 a barrel on Wednesday (May 12) and that a $1.55 price increase of the product would be announced today (May 13). “We can now safely say that the days of US$20 a barrel for crude oil is now history,” he declared.

Over the past five years, Jamaica spent US$3.2 billion on oil imports, which now accounts for 22 per cent of import costs. “Given our dependence on imported oil for such a high percentage of our energy needs, the continuous increase in consumption must be addressed as a matter of urgency,” Minister Paulwell stated. He added that the Energy Sector Policy was being updated to take into account the current market and energy trading realities.

Other initiatives to deal with the energy crisis included the promotion of public awareness of the need for behavioural change to bring about more efficient use of energy and energy conservation. This, the Minister pointed out would be done through demonstration projects, training in energy audits, public education and advertising.

Additionally, the Minister said that the new building code that was currently being developed would make energy efficiency mandatory in the construction of new buildings, while promoting the use of fluorescent lamps and a target of installing 25,000 solar water heaters in houses was being pursued over the next five years.

In regard to the use of renewable energy, Minister Paulwell said that the 20-megawatt wind farm in Manchester would be fully commissioned by early June. He added that there would be continued research on commercial fuel wood production through the demonstration project at Font Hill in St. Elizabeth and the government would be stimulating the development of the ethanol industry.