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Confronting the Energy Security Dilemma of the Caribbean

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Confronting the Energy Security Dilemma of the Caribbean ( confronting-energy-security-dilemma-caribbean )

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tions, The University of West Indies, it is intended to provide a more realistic frame- work for assessing competitiveness in the manufacturing and particularly services sector. Also, Dr. Mohammed suggests that central to the Model is the attainment of Platform Competitiveness; National Competitiveness (Platform 1) and International Competitiveness (Platform 2). Platform 1, pertains to the national level, includes 6 key factors- 1) Domestic demand; 2) Entrepreneurs; 3) Government; 4) Factor Conditions; 5) Business environment; 6) Related industries. This Platform Model improves on Porter’s Diamond, and enhances the framework of the core arguments, making the former more applicable to the Caribbean context. The Platform Model has included the role of entrepreneurs and government, which are both essential to sustainable economic development among Caribbean nations. Also, the model implies that national competitiveness is a prerequisite for interna- tional competitiveness and that the 6 determinants of Platform 1 influence both lev- els of competitiveness. Platform 2 builds on the foundation set by the determinants of the national level. The progression from national to international competitiveness utilizes; 1) Service customisation; 2) Alliances, Partnerships or Foreign Direct Investment (FDI); 3) International Accreditation/ Certification; 4) Service Quality. The purpose of these models and theories is to outline the framework and deter- minants essential for economic growth and national prosperity. In this, application will pertain to the energy sector of some Caribbean countries, to demonstrate how the state has been making a concerted effort to increase and improve research and investment in renewable and alternative energies, albeit for the primary purpose of achieving energy security. Essentially, Jamaica, Barbados, Guyana, Dominica, and St. Kitts and Nevis have realized that, since energy vulnerability must be reduced, or where possible eliminated, the best way to achieve this is to exploit the cheapest and most abundant natural resources at their disposal. It is important to underscore the potential within Caribbean countries to have a monopoly, albeit perhaps tempo- rary, in the world market in the realm of renewable energies. In this regard, some countries have already made substantial progress in developing hydro power, geo- thermal, wind and solar power resources, to the extent that export of this energy is conceivable in the near future. ENERGY SECURITY OF THE CARIBBEAN 109

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