The race for oil: will Jamaica be the next country to drill and what does that mean for its green pledges?
With early tests suggesting the presence of crude oil, the Caribbean island has begun to debate whether it could justify becoming a producer Jamaica is closer than ever to drilling for oil. Tests on samples from the seabed off the Caribbean island’s south coast earlier this year identified hydrocarbons, which suggest the presence of crude oil below ground. Jamaica imports all its fuel, which costs about $1.5-2bn (£1.1bn-1.5bn) annually, depending on global oil prices. It is a persistent drag on an economy that generated $4.3bn from tourism, its biggest earner, in 2024. Continue reading...
With early tests suggesting the presence of crude oil, the Caribbean island has begun to debate whether it could justify becoming a producer Jamaica is closer than ever to drilling for oil. Tests on samples from the seabed off the Caribbean island’s south coast earlier this year identified hydrocarbons, which suggest the presence of crude oil below ground. Jamaica imports all its fuel, which costs about $1.5-2bn (£1.1bn-1.5bn) annually, depending on global oil prices. It is a persistent drag on an economy that generated $4.3bn from tourism, its biggest earner, in 2024. Continue reading...
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