The race for oil: will Jamaica be the next country to drill and what does that mean for its green pledges?
Summary
Jamaica has found signs of oil under the seabed off its south coast and is closer to starting oil drilling. The government is cautiously hopeful but also faces concerns about how oil extraction fits with its climate goals and recent hurricane damage.Key Facts
- Tests found hydrocarbons beneath Jamaica’s southern seabed, indicating possible crude oil.
- Jamaica currently imports all its fuel, which costs about $1.5 to $2 billion each year.
- United Oil & Gas, a UK company, has the exclusive right to explore the Walton-Morant basin near Jamaica.
- No commercial oil production has happened yet, but surface oil seeps have been observed before.
- Oil production could take until the mid-2030s even if drilling starts soon.
- Jamaica’s energy minister expressed cautious optimism about the potential discovery.
- Environmental groups and some officials worry drilling conflicts with climate change goals and recent hurricane damage.
- Jamaica signed the Paris climate agreement in 2017 and has called for a treaty to reduce fossil fuel use globally.
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