Even as we hope that the drop in world oil prices will stimulate economic growth in Jamaica, we strenuously urge the Government not to lose sight of the fact that it must continue its push to diversify the country’s energy sources.

Our continued focus on this issue has its foundation in previous experiences. We recall quite well that when oil prices spiralled in the 1970s, there was a lot of talk here about harnessing solar, wind and hydro energy.

However, when oil prices started going down, we relaxed and continued our heavy dependence on fuel.

Between 2008 and 2012 when world oil prices soared again, climbing to as high as US$147 a barrel, we again witnessed the Governments knee-jerk reaction, as the global economy suffered another huge body blow.

As we have argued in this space before, it is not that Jamaica lacks ideas on more economical sources of energy than oil. This and previous governments have floated the use of either coal, ethanol, solar, hydro, wind, natural gas, or a combination of a few of those.

Early last year, we encouraged the Government to give serious thought to the Leucaena project, which was established in response to the energy crisis of the late 1970s.

The Leucaena plant, which is referred to in some parts of the world as the miracle tree and in Jamaica as wild tamarind, has been used to produce energy as well as animal feed. Had we stuck with that project, rather than pull back when oil prices dropped, our annual oil importation bill would be much less than the more than US$2 billion it is today.

Jamaica can’t continue spending that amount of money on energy if we intend to encourage and attract more investment,  local and foreign.

We hold that significant reductions in energy costs will cause investors to give Jamaica a second look.

For even though we are now seeing a drop in oil prices, and  as we noted in this space yesterday,  the outlook for 2015 is that prices will ease further, we all know that all it takes is just one geopolitical event for oil prices to spiral again.

Of course, recent developments in the industry, specifically the increase in oil and gas output in the United States, are likely to counter any attempt to move the price of energy up.

However, we should not get complacent. Continuing our heavy dependence on oil for energy will keep us at the mercy of the oil-exporting countries.

To be fair, the Jamaican Government has done some amount of work on alternative energy solutions for the country. However, the Administration needs to do more, and do so much more quickly.

Although Energy Minister Phillip Paulwell’s many missteps have kept him out of the fray, we could do with the energy and enthusiasm he brought to the process.