BY JACQUELINE CHARLES
At 40 cents a kilowatt hour, Caribbean consumers are paying four times more than what consumers in the United States pay to keep the lights on.
Those high energy costs, like the discounted Venezuelan Petrocaribe oil subsidies many countries have come to rely on, are not sustainable, energy experts said Thursday, urgently calling on Caribbean governments to explore cheaper, reliable fuel alternatives such as natural gas.
“If natural gas can play a role.. than why not?” said Christian Gischler, senior energy specialist at the Inter-American Development Bank. “But every country must decide what is best for them.”
The call comes as analysts increasingly speculate that Petrocaribe will not last given Venezuela’s ongoing financial turmoil, and as shale gas increasingly becomes a source for natural gas.