Speed up search for alternative sources

[Karl]

By Juhel Browne - Wednesday, May 14th 2008

United States Energy Secretary Samuel Bodman says countries that consume and export oil and natural gas such as Trinidad and Tobago need to place more emphasis on alternative energy technologies as global oil prices continue to reach astounding heights. Bodman did so during his feature address at the American Chamber of Commerce of Trinidad and Tobago breakfast meeting held at the Hyatt Regency Hotel, on the Waterfront, in downtown Port of Spain. He was in Trinidad and Tobago on a two-day visit that ended yesterday.

To date, the Patrick Manning administration has not stated whether it has a defined policy for alternative energy technologies such as ethanol produced from corn and sugar cane as a gasoline substitute or wind technology for electricity generation. Bodman said investments in research and development of these technologies was vital as climate change and other factors have increased the need for safe, reliable and clean sources of energy. "I think it's fair to say that we have dropped off in terms of our interest in science engineering. We have gotten a little more complacent than we should be and we're trying to restimulate that and I would recommend the same thing in this country. I think its very important," Bodman said.

After the function, Bodman met with Manning and Energy Minister Conrad Enill at the Diplomatic Centre, St Ann's, to discuss several energy-related matters including the security of this country's Liquefied Natural Gas (LNG) facilities. "The International Energy Agency, the IEA, estimates that the world's primary energy needs will grow by 55 per cent by the year 2030. In just 22 years a 55 per cent increase in energy demand," Bodman said. He further said, "The IEA estimates that $22 trillion of investment will be needed between now and 2030 to meet that expected demand. We also know that this investment must occur around the world in all stages of the energy cycle."

T&T is the largest exporter of LNG to the United States and while Bodman praised this country as a leader in the regional and global energy sector, he told those at the AmCham event that the world's addiction to fossil fuels such as oil and gas must be broken.

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