Beautiful Virgin Islands

Saturday, Jul 26, 2025

The price increases are coming!

The price increases are coming!

In or around 1776, Paul Revere was cited as saying “The British are coming, the British are coming!!” There are some disputes as to if it was him or someone else who said it. Yet, the undeniable fact is that the British, under Cornwallis, did come. It took a while, but those same British had to sail themselves back to "Jolly ole Englande" to face the wrath of King George.

In more recent times, the minute the war broke out between Vladimir V. Putin and sanity, the world as we knew it economically, changed.

With Russia being the world's second-largest producer of crude oil, global oil prices have jumped from $65 per barrel in 2021 to $100 in mid-March, 2022.

Well, Ukraine is far away?

Correct.

Won’t affect anything to do with Bermuda and the rest of the region?

Incorrect.

This latest military and humanitarian crisis will most definitely affect us all economically in both the short and long run.

Here is a quote from [British] Virgin Islands Minister of Transportation, Works and Utilities Honourable Kye M. Rymer (R5).

"This is not going to be something that I or anybody here in the BVI will be able to control, that is going to be difficult…"

Here is what we can expect:

*  Increase in the cost of producing electricity, as our electric cal power plants rely on imported refined oil.

*  increase in the cost of fueling up our vehicles, as they all rely on imported fuel oils as well

*  Cooking gas will go up

*  Airline tickets will go up.

*  The foods and goods we import will go up, as the ships bringing them have to use the same type of oil that our power plants operate on.

So, to borrow a line from the 1770s, “The increases are coming, the increases are coming!!"

Forward thinking


Fortunately, there is somewhat of a “silver lining” to this man-made catastrophe.

*  Just recently we saw the arrival of new electric buses that will produce zero emissions and require zero fuel in order to operate

*  The Saturn Solar farm down east is now operational and capable of producing up to 6 Megawatts or 6 per cent of our peak demands during the time that the sun is up

*  Legislation in Bermuda was recently changed by Deputy Premier Honourable Walter H. Roban to allow for those entities that wish to try out different forms of renewable energy such as solar and wave technology

Like everywhere else in the world, we are reliant on the by-products of fossil fuels in order to maintain the standards of living that we have become accustomed to over the last 100 years.

*  Refrigeration

*  AC units

*  Internet

*  Mass transportation

*  Tourism arrivals

Essentially, there is no escaping using fossil fuels in one form or another.

It is clear that events both near and far, can adversely affect our economies. As a region, we must continue to implement slow but steady increases to our energy supply mixes.

Legislation in Bermuda was recently changed by Deputy Premier Honourable Walter H. Roban to allow for those entities that wish to try out different forms of renewable energy such as solar and wave technology.


[British] Virgin Islands Minister of Transportation, Works and Utilities Honourable Kye M. Rymer  has said no one in the Virgin Islands would be able to control the price increases caused by the military crisis between Russia and Ukraine.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
×