The Global North would find it difficult to disregard the opinions of countries in CARICOM, Latin America, and Africa if they spoke together on matters concerning the oil industry.
During the Guyana Energy Conference and Supply Chain Expo, which took place at the Marriott Hotel from February 19 to 22, the strength of this kind of cooperative force was recently demonstrated.
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In his remarks on the second day of the conference, Minister Young stated that the necessity for nations to attain energy security has become more pressing due to the geopolitical ramifications and market disruptions brought about by Russia’s invasion of Ukraine in February 2022. Additionally, according to Minister Young, it clarified the expectations of the Global North for the response to climate change from CARIOM countries—Latin America and Africa. According to him, certain countries are under pressure from the Global North to limit the use of their natural resources, so as not to exacerbate climate change and the ensuing natural disasters. Young, however, believed that this expectation of CARICOM, Latin America, and African countries was unjust given those “wealthy and developed nations” of the Global North have unrestricted freedom to exploit their resources and those of other countries to further their economic development.
Young also emphasized the fact that, since their gas supply from Russia was cut off, nations all over Europe started up coal plants to generate electricity during the Russia-Ukraine war. According to the Minister of energy, coal is among the worst sources of carbon that adds to the problem of climate change. “But what it shows is that once there is a crisis, this will once again be the reaction of certain wealthy, developed countries in the world,” the minister noted.
According to Young, CARICOM, Latin America, and Africa must work together to make sure that these countries are held accountable and forced to act in the global interest, and “be a voice that cannot be ignored.”
“I want to utilize the opportunity here this morning where we are just days away from the CARICOM meeting on Monday (February 26, 2024) to bring this sense of responsibility to us and for us to start working more collaboratively, working as one loud voice because if we do so, we can, and I am convinced, contribute to the decisions that are being made around the world that directly affect us,” said Minister Young.
He continued, “What we need is an equal voice and an equal seat at those tables of decision-making.” This trilateral group, according to Young, has the ability to spearhead the effort on energy security because of Guyana’s expanding hydrocarbon resource pool, the significant barrels that have been unlocked in Suriname, and Trinidad and Tobago’s century-long experience in the sector.
“We hold the opportunity right here in our hands to influence this energy security conversation taking place across the world,” noted Young. The politician from T&T emphasized that even though CARICOM, Africa, and all of Latin America collectively contribute less than three percent of global emissions, they nevertheless bear the brunt of the consequences, emphasizing how important it is that this group step up to the plate and advance the conversation about the power of collaboration. Minister Young restated his plea for unity while hinting that there is something fundamentally wrong with this equation.
