Archive for April, 2008

Jamaica’s Demand for Gas Steady.

Thursday, April 24th, 2008

There has been no reduction in demand for Gasoline in Jamaica despite rising Oil Prices. Words to that effect were uttered by a Mrs. Ruth Potopsingh of the Petroleum Corporation of Jamaica(PCJ). I heard this while listening to Power 106 FM’s Independent Talk program on Monday, January 14, 2008.

Interesting the problem seems to be the same in Barbados where the gentleman from the island ,speaking on the same program, even hinted that there was possibly and increase in demand there. At some point, demand will have slacken off. Oil Prices at this point and it sustained consumption is likely to have serious effects on the economies of Caribbean Countries.

What is needed is a serious conservation push by the authorities. In Jamaica, that message is slowly coming out. The problem in Jamaica is that on one hand , the motor vehicle is seen as a status symbol more than utility, while on the other, the poor public transport system, despite its improvement, still remains inadequate.

For now, the demand for Gasoline remands inelastic but for how long?

Oil Prices now Cross the $115 mark

Thursday, April 17th, 2008

This week the price of Oil has crossed new marks. Earlier in the week it cross the USD$113 and the USD $114 mark and yesterday it push past the the $115 mark. Many Analyst continue to predict that the Price of Oil could reach as high as $150 while a few project $200.

One thing for sure the world is in a crisis. Not only has the prices of Oil risen to new heights but prices of food and other commodities have done the same. Since September of last year the price of wheat, corn, soya, corn, rice on the world market has risen by as much as 40 according to world bank reports. The price of Gold and other commodities have also hit record marks.

Jamaicans and the world have many things to ponder and rightly so. Many ask where are the answers to these. For some it is wrapped up in the economics of demand and supply, others point to speculators while others in the Christian’s circles point to the fact that these are end-times and the answers are in the Bible.

Green Hills and Ford Focus’ 35 MPG Car

Thursday, April 3rd, 2008

The afternoon showers have returned and the hills in Kingston are once again looking green and nice.  We hope that this is the beginning of a green revolution of sorts. The voices of energy conservation are once being heard. A Blog on a Jamaican newspaper’s website  even mentions that a housing development, coming to the hills overlooking the city of Kingston, that will have built-in renewable energy features. The houses will get a portion of their energy needs provided by on-site wind turbines and solar panels.

It was interesting, as a I watched cable television last night, to see Ford advertising its 2008 Focus. Apart from the usual gadgets and features, an integral selling point was the fact that it provided 35 miles per gallon(MPG).   The Ford ‘35MPG’ Focus is a nice looking four-door sedan and seems as if it would be fun to drive. With gas prices in the USA and Jamaica at an all time high,  it would indeed make a good choice for wise energy-conscious buyer.

The message has gotten home in the USA, when will it get home here in Jamaica. One radio commentator mentioned that in the USA SUV sales are on the decline while the opposite is true hear. I believe that soon or later SUV sales will trend down here.