Mr. Jagdeo’s oil revenue “maximisation”, global politics and domestic strife

Vice President Jagdeo recently added some clarity regarding the long-term vision of the PPP/C administration. This clarification came at the Offshore Technology Conference in Houston, Texas. The first vision pertains to the immediate maximising of oil revenues because of the uncertain prospects for fossil fuel in the coming three decades. The second vision has to do with renewable energy forming part of the national energy mix.

The Low Carbon Development Strategy (LCDS) was invoked in order to justify the second long-term vision. The long vision implies a fairly large hydropower station, most likely Amaila, is the objective. More granular renewable energy sources do not seem to be in the works. By granular, I mean providing incentives for families and businesses to convert rooftops into solar panels for own use and selling the surplus. However, the latter approach need not be inconsistent with a grander plan such as Amaila. They all require legislation and the upgrading of the grid system.