THE 1973 Yom Kippur war that triggered the energy crisis of the 1970s and plunged the world’s economies in dire economic straits for many years set in train new thinking about alternative energy sources. The OPEC countries withheld vital oil supplies particularly from Western countries as a result of many of them refused to pressure Israel to disengage from Arab territories. Economies were severely affected, especially those that imported oil. Japan s oil bill increased by some $20B, as prices rocketed with demand. Who can forget the vivid images in TIME and NEWSWEEK magazines of vehicles in never ending lines at petrol stations throughout the United States? It was this situation that explains mainly why the traditional big fuel guzzling American car went out of existence and began to be replaced by the new make of smaller fuel efficient cars.
Smaller economies such as Guyana embarked on sweeping measures with a view of surviving this energy crunch. The grim reality took hold that the world runs on oil as it sill does. It was sometime after this global crisis that it was announced that Guyana was embarking on its hydro building attempt at Moco Moco. But for a multiplicity of reasons this grand project did not fructify. It was aborted.
Many countries ranging from developed economies to developing ones are today pursuing development of alternative energy plans in their quest for energy security.  This was one of President Obama’s campaign platforms, as he stressed that America needs to garner alternate energy sources, Well America still has huge oil deposits, but certainly Obama has in mind the increasing volatile Middle East that supplies most of America’s energy needs. But he has also stressed the need for a more efficient alternative, citing the plans to develop nuclear energy for such purposes.
Neighbouring giant Brazil has been a leader in the quest for alternative energy sources, in the form of ethanol production. India and a number of Asian countries are also in the search for renewable energy sources as well, also in the form of ethanol production. Even Venezuela, wth its vast oil resources has the giant Guri Dam hydro project, which has been of tremendous benefit to that nation, despite its current power outages due to low level of water supply as a result of the prolonged El Nino phenomena. Guyana not to be left out  has just announced that it will be embarking on its own alternative energy source with the soon to commence  Amaila Falls Hydro Project. This project which is  indeed transformational in nature and scope will change this nation’s economy. Firstly, billions of dollars will be saved from the purchase of fuel. These sums can be used for further development projects such as developing our science and technology capabilities, and perhaps further hinterland development. Secondly, power outages will become an occurrence of the past. It will also result in lower energy charges for consumers, generally, and encourage greater manufacturing production. Thirdly, with a reliable and readily available power supply investment portfolios will increase. Fourthly, the coming into realization of a national project of this magnitude will undoubtedly be opening up a very significant swathe of area for national development. It is envisaged that there will be a spread of investment projects, as investors may move further into the hinterland with its limitless opportunities for eco tourism and the hospitality industry in general… Exciting times are indeed ahead for this country.
Finally, a project of this kind synchronises with this country’s well known Low Carbon Development Strategy, as it means that development will take place with fewer risks to our environment.  This is what one can say is wise use of Guyana’s abundant water supply. It is only natural that such a project happens. Once again the government is delivering on its promise of meaningful development.