ECONOMIC DISLOCATIONS COMING

The Foreign Minister of The Bahamas issued a statement last week about the situation in Ukraine. It condemned the Russians for their actions in mashing up a small country without cause.  However, the larger point made was that Vladmir Putin by his wild actions have imperiled a world economy just now trying to recover from Covid.  Now here we go again with a war.  The first shock is the fuel pump.  The world is still trying to ween itself off oil and now the prices of the damn thing are going sky high.  The Saudis point blank told the Prime Minister of The Bahamas when they came calling to ask us to vote for Expo 2030 that they ain’t gonna pump more oil to give relief to the world in the short term.  The Americans said they would release a measly 60 million barrels from their strategic reserves.  The  Opposition FNM said that the PLP had scuttled the hedge which they left in place to protect the power company against losses and high fuel prices  in the future. The government cancelled an unauthorized rise in prices by BPL last week. So all in all we are bracing for another bit of bad news. This makes it all the more important in our view to switch to solar and to do so right away.