Today’s column explores the proposed gas-to-shore project. Off the bat, I must declare that converting the present heavy fuel power plants to natural gas makes sense. Indeed, in June 2015, I wrote a column, then under Development Watch, arguing for the transition from high-polluting heavy fuel to less-polluting natural gas power plants. However, the same article called for natural gas plants, home-supplied solar units, medium-scale solar farms, sugar-based bagasse plants, and perhaps wind turbines supplying power to integrated smart grids.
I have always preferred a portfolio energy approach instead of the single silver-bullet approach. An integrated portfolio approach will also generate more immediate employment outside of the oil sector. However, moving towards the portfolio approach will require thinking about a comprehensive energy-based industrial policy framework beyond the fad of oil-related local content.