CARIBBEAN PETROLEUM UPDATE is a monthly Bulletin which highlights petroleum issues affecting or relevant to the Caribbean, international developments that may affect the region’s way of life and movements in oil prices and retail prices for fuel regionally. CONTACT US Caribbean Energy Information System Scientific Research Council Hope Gardens, Kingston 6, Jamaica 1-876-927-1779 (Telephone) 1-876-977-1840 (Fax) [email protected]www.ceis-caribenergy.org continued on page 2/ T he optimal utilization of our energy resources to gener- ate long-term sustainable growth and development of our economies and the creation of a better quality of life for our citizens is dependent on several factors. One of the main factors is the availability of these energy resources. Another important factor is the price at which these resources are acquired and how efficiently they are utilized. This brings us to the question as to whether the Caribbean region is optimally utilizing their energy resources for electricity genera- tion. Electricity can be considered the most vital transformed energy resource within a country since all sectors of the economy relies heavily on the availability of this form of energy. With the exception of Trinidad and Tobago (T&T), all Caribbean countries over the past decades have been battling with some of the highest electricity rates seen in the world. This leads us to ask the question, what makes T&T different from other Car- ibbean nations? The answer is very simple, T&T enjoys the benefits of having 99% of its electricity being gener- ated from Natural Gas and as such they can boast the lowest electricity rates in the Caribbean. Reports from an audit conducted in December 2010 by Houston-based consultant Ryder Scott says natural gas reserves in T&T were 13.4 trillion cubic feet which indicates that there is no short term need for T&T to import fuel for electricity generation. What is Natural Gas? Natural gas as you might already know is considered to be the world’s cleanest burning fuel and it has emerged as the environmentally preferred petroleum fuel of choice. Natural gas is a combustible mixture of hydro- carbon gases with the primary component being meth- ane. Natural gas is often associated with oil deposits and is found in reservoirs far beneath the earth. Typical Composition of Natural Gas Source: www.naturalgas.org Caribbean Energy Information System (CEIS) August 2011 Air view of Atlantic LNG, Trinidad & Tobago Source: www.lngpedia.com Methane CH4 70-90% Ethane C2H6 0-20% Propane C3H8 Butane C4H10 Carbon Dioxide CO2 0-8% Oxygen O2 0-0.2% Nitrogen N2 0-5% Hydrogen sulphide H2S 0-5% Rare gases A, He, Ne, Xe trace To access CEIS website
CARIBBEAN PETROLEUM UPDATE is a monthly Bulletin which highlights petroleum issues affecting or relevant to the Caribbean, international developments that may affect the region’s way of life and movements in oil prices and retail prices for fuel regionally.
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CARIBBEAN PETROLEUM UPDATE is a monthly Bulletin which highlights petroleum issues affecting or relevant to the
Caribbean, international developments that may affect the region’s way of life and movements in oil prices and retail prices for fuel regionally.
CONTACT US
Caribbean Energy Information System Scientific Research Council
Fuel Cost High Range (US$/Kwh) 0.23 0.27 0.30 0.34 0.37 0.41 0.44
POSSIBLE ELECTRICITY FUEL COST WITH VARYING PRICES OF OIL AND NATURAL GAS
Observe speed
Though all vehicles have optimal fuel efficiency at different speeds its good to note that speeds over 60 miles per hour decreases the vehicles gas mile-age drastically.
Extra Weight Removal
Ensure there is no unnecessary weight added to the vehicle. Extra weight in the vehicle can decrease your fuel efficiency while driving.
Idling Too Much
Avoid idling as much as possible. When your idling, your car is not getting you anywhere and is burning gas.
Cruise Control Option
Cruise control can help save gas by keeping your speed of the vehicle constant. When your driving and you let go of the gas and then press the gas (changing speeds) your causing your vehicles rpm to spike unnecessarily. Using this in the city is a stretch considering how often you have to stop for stop signs, traffic lights, pedestrians, etc, but on the highway this tip is the most effective.
Maintenance On Your Vehicle:
Check your air filters to ensure you do not have a clogged air filter. Also keeping your tires properly inflated is one of the most important tips in fuel sav-ing as well as your safety on the road. Also, driving with the windows down also will reduce fuel mileage as wind that goes into the vehicle will create drag.
C A R I B B E A N E N E R G Y I N F O R M A T I O N S Y S T E M ( C E I S )
REGULAR UNLEADED GASOLINE AVERAGE PRICES AT THE PUMP
January - August 2011 Retail prices for refined petroleum products remained relatively high in comparison to prices seen at the beginning of the
year when crude oil prices were approximately US$90/BBL. Of the sixteen countries reviewed at the end of August, retail
prices for regular unleaded gasoline in three Caribbean countries had shown increases when compared to the previous
month while eight countries showed slight declines and the other four remained relatively stable.
NOTE:
*US Gallon = 3.785 L
*Imperial Gallon = 4.546 L
*As at November 1, 2009
MTBE was phased out from all
gasoline blends in Jamaica
and replaced with 10% Etha-
nol.
CHART 1
See prices for other products at See prices for other products at See prices for other products at www.ceiswww.ceiswww.ceis---caribenergy.orgcaribenergy.orgcaribenergy.org ...
Table 2: Regular Unleaded Gasoline Average Retail Price (US$/Litre)
C A R I B B E A N E N E R G Y I N F O R M A T I O N S Y S T E M ( C E I S )
International oil prices over the period June to August
2011, remained above the US$100/BBL mark with the
highest price seen in the first week of August
(US$114). The lowest weekly price seen in August for
the product was US$102.34/BBL - reflected at the end
of the 2nd week. This price was approximately 30%
below the highest price seen during the record oil
price year of 2008. With the exception of first week,
prices seen in August when compared to the other two
months (Jun & Jul) were lower.
With prices remaining above the US$100 mark,
productivity in the Caribbean is on the decline as the
already fragile economies are faced with high energy
cost and the harsh ongoing impact of the global
recession.
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Caribbean Energy Information System (CEIS) primary report of historical annual petroleum energy statistics provided for 18 Caribbean Countries. Included are data on total energy production, consumption, and trade; overviews of petroleum, natural gas, electricity, as well as financial and environmental indicators for over twenty years.
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