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122 INTERNATIONAL PUBLIC POLICY REVIEW tries to contribute 20 percent. The difference in cost will be funded by public money. With all this, tax incentives will be offered for the use of ecologically sound fuel and for the installation of plants generation electricity with renewable energy sources. The plan puts the emphasis on renewable energy sources such as wind (raising the 13,000 MW target for the capacity of wind-powered electricity plants set by the pre- vious government, to 20,155 MW), solar energy, biofuels and hydroelectricity (Eu- roresidentes ). There is a new dimension to energy and energy security in the current international energy economy. There is an increasing number of nations that are investing in re- search and infrastructure to keep abreast with the technological advancements of the energy sector. The concept of energy security is no longer farfetched. This sector creates jobs and also ensures survival in a rapidly mutating global community. Ac- cording to the president of the Spanish government, José Luis Rodríguez Zapatero, we are currently facing a third economic revolution, a revolution which, after the industrial and technological revolutions, will consist of the transition from an econ- omy dependant on carbon to an economy based on renewable energy. According to a study about renewable energy by the Reference Centre of the Union Institute of Work, Environment and Health (ISTAS), this energy provides work for 188, 682 people in Spain, and 89,000 of those directly. The renewable energy sector is growing in Spain and according to official data in the last four years, the produc- tion of renewable energy has increased by 50% (Sanchez ). Trinidad and Tobago In Trinidad and Tobago, “the petroleum industry is central to the economy” (As- sociation of Caribbean States 2008:35). In 2004, the country’s GDP totalled some $12,210.8 million, and a growth rate of 6.5%. Energy security relates to the preser- vation and maintenance of energy consumption patterns and markets. The nature of energy security is to ensure economic competitiveness and, furthermore, sustain- able economic survival. In the case of...Trinidad and Tobago, which is self sufficient in both oil and gas, it re- fers to its ability to be able to sell refined petroleum products to a long-established Caribbean market. One-third of the 160,000 b/d output of its state-owned Petrotrin refinery is gradually being pushed out of that market and being replaced by supplies from Venezuela, under an arrangement called PetroCaribe. Venezuela now has pref- erential supply deals with 17 Caribbean and Central American states for supplying petroleum products and, in a few cases, crude, in response to their need for “energy security” on the supply side of the world in the face of record high oil prices... (Cal- lahan 2009:58). This is linked to an essential element: the price of the manufactured commodity. Whether or not export markets are secure and supply is constant, this does not guar- antee stability in price of the product. In 2007, the Ryder Scott report assessed thePDF Image | Confronting the Energy Security Dilemma of the Caribbean
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