Washington---8 Sept. 2006---The Republic of Trinidad and Tobago, in collaboration with the Caribbean-Central American Action, the Inter-American Development Bank, the United Nations Development Program and the U.S. Department of Energy, will co-host the Energy and the Competitiveness of the Caribbean Forum from September 7th through the 8th at the Hilton Trinidad and Conference Center in Port of Spain, Trinidad and Tobago.

Although Trinidad and Tobago is fortunate to possess adequate reserves of fossil fuels to ensure future wealth and a high standard of living for our citizens, we remain mindful of our obligation to explore those resources in a manner that ensures the sustainable development of our nation in a manner that does not adversely impact on our environment, Minister of Energy and Energy Industries, Senator Dr. the Honourable Lenny Saith said. “Our decision to host this critical debate is a testament to our commitment to the creation of energy security in the region. We look forward to the serious discussions that will help harmonize our energy policies and allow our economies to further flourish and our citizens to prosper.”

The energy forum will bring together policymakers and private sector leaders to discuss critical energy issues, including ways to reduce the region’s dependence on non-renewable sources of energy and mitigate the effects of high energy costs by reducing fossil fuel consumption and developing effective sustainable energy plans.

"The sustained increase in fossil fuel prices is forcing societies around the world to rethink their most basic assumptions about energy supply, consumption and conservation,” said IDB President Luis Alberto Moreno. “For the Caribbean, this new reality brings real challenges, but also tantalizing opportunities."

The two day conference will include discussions between policy makers and the private sector on innovative ways to address the region’s energy challenges, with a particular focus on improving energy efficiency and deploying energy conservation technologies. In addition, an energy security discussion will address oil pricing, taxation, fuel standards, and transportation. On the second day of the conference, participants will discuss renewable energy and the current public policy environment, improving technology deployment, and facilitating finance and investment.

Confirmed participants to the forum include the, Hon. Nelson Oduber, Prime Minister of Aruba, Hon. Luis Alberto Moreno, President of the Inter-American Development Bank, Joao Jose de Nora Souto, Brazilian Secretary for Oil, Natural Gas and Renewable Energy, Karen Harbert, Assistant Secretary for Policy and International Affairs, U.S. Department of Energy, and trade and energy ministers from participating Caribbean countries, as well as representatives from the private sector and non-governmental organizations.

The event is open to credentialed members of the media.

Source: IADB.org