FIT to benefit oligarchs only

Two recent newsworthy events should serve to refocus the current orientation of our power sector—and the enslaved consumers.

1. The recent award by our energy hierarchy of the so-called feed-in tariff (FIT)—all tariffs to our oligarchs—which would presumably be based on the pre-year 2015 prices. (Note, we are of the impression that our energy authorities have this preoccupation to make the country a hub for sustainable energy development—at consumers’ expense!)
2. The recent worldwide glut in the oil market and the resulting drop in prices from the $120-per-barrel range to $50-per-barrel range.

The vaunted “no-brainer” advantages of the renewables—from the perspectives of economies and stability—are challenged, and only the environmental issues need to be debated.

—ALFREDO V. ASUNCION, avasuncion@hotmail.com

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TAGS: oil prices, oligarchs

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