THE importance of cheap reliable energy as an economic driver was underscored Thursday by Canadian High Commissioner to Guyana, Dr. Nicole Giles, while addressing the Georgetown Chamber of Commerce and Industry’s Award and Dinner at the Pegasus Hotel.“The potential for renewable resources is going fast around the world,” Dr. Giles said. She bolstered her argument by quoting a recently released five-year report published by the International Energy Agency, which projects that renewable energy will edge out natural gas as the biggest source of electricity by the Fall of 2016.
It’s a projection Dr Giles finds is nothing short of a remarkable development, given that just a few years ago, the cost of renewable technology was prohibitive.
Noting that the cost of renewable technology, particularly solar and wind, has fallen dramatically, Dr Giles said, “Renewable energy presents a huge opportunity for Guyana to begin diversifying its natural energy supply to create more molecules and less fossil fuel.”
With one of Canada’s greatest economic advantages, and the key to its prosperity being its natural resources, Dr Giles said things back home have gotten so that energy now accounts for a sizeable and quality share of Canada’s Gross Domestic Product.
“Canada has abundant energy resources of all kinds; Canada is the third largest producer of natural gas and hard electric power in the world. We are the world’s sixth largest producer of oil,” she said.
Dr. Giles also noted the employment benefits that the country has gained because of its ventures with energy resources. She said that directly or indirectly Canada’s energy sector accounts for hundreds of thousands of jobs for Canadians in every sector of the economy including in the skilled trades, manufacturing, clerical jobs, ICT, marketing and financial sector.
She however advised about maintaining a balance between energy consumption and the sustainable management of environmental resources. She noted that Canada is a global energy leader in maintaining social responsibility with regards to environmental protection.

Noting the benefit of development in the energy sector, Dr. Giles said that developing countries such as Guyana cannot afford to look the other way.
The PPP/C Government has been pursuing renewable energy in the form of the Amaila Falls Hydro project, but budgetary allocations for this project became a victim of the opposition’s scissors. (GINA)