One Response

  1. Ben Graham
    Ben Graham February 25, 2012 at 8:22 pm

    Thanks for this interesting blog and discussion paper. A resurgence in oil prices will probably wreak havoc again on many of the small island economies, sad to say.

    The 2008 fuel crisis was a real wake up call for the Marshalls, as you mention. The silver lining on that cloud was that it forced leaders to focus more attention on reforms. The major electric utility was already developing a reform plan when the crisis hit, forcing it to fast-track the process (it was aleady insolvent prior to the crisis!). The crisis also resulted in RMI developing its first comprehensive national energy policy and action plan, which emphasizes energy efficiency, renewables, and other initiatives. Australia, ADB, and other partners responded with good support. Since 2008 we’ve seen a wide range of energy projects and initiatives get moving.

    But…. much more could have been done to strengthen the country’s resilience, both in terms of its energy security and its fiscal position. As they say, history repeats itself… because we don’t always learn our lesson the first time around!

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