Yesterday Brunei Times carried an article about a study on wind power in Brunei Darussalam. The study was conducted by a Canadian consultancy firm called Powertech Labs Inc. This study was commissioned by Center for Strategic and Policy Studies (CSPS).
According to the article, Powertech Labs Inc had identified 19 potential sites for the development of wind energy, both onshore and offshore, in Brunei Darussalam. Those sites had a potential to produce from 20 to 1,800 Megawatts (MW) of electricity, which is greater than 100% of Brunei's annual generation.
However, according to Powertech Labs Inc, offshore sites are expensive to develop compare to onshore. For offshore it is estimated to cost at B$320 per MW to develop whilst onshore it is estimated to cost at B$120 to B$160 MW.
So what's next? If people have the mentality that government finances are the same as household finances, I am willing to bet my bottom dollar that this study (report) shall be gathering dust somewhere in CSPS library. Why? Because it is being perceived as too expensive and our government can not afford it!
But if people realized that government finances are not the same as household finances, then our country should take up this study and start implementing the ideas. We should be drawing up the budget to procure this technology. As a monetarily sovereign nation, Brunei can afford to develop this technology further. Brunei has the ability and authority to credit any vendor's account whom that can supply, construct and commissioned all the wind turbines either onshore or offshore.
We must realized that Brunei spending is not constrained by how much oil and gas that she can pumps out from the ground and sell. Even Brunei to runs out of oil and gas or all her overseas investments failed, it does not hinder the government ability to spend by a single cent. Brunei can create as much or as little as Brunei dollar she wants.
How does Brunei have the ability to create Brunei dollar? Well, it all started when the world went off the last remaining gold standard in 1971. Since then all world currencies are created without the backing of gold or any other commodities. The same goes for Brunei dollar. It is created without any backing either gold or oil and gas. The only thing that back up today's currency is government faith.
Since we can not runs out of government faith, Brunei can create any amount of money she wants in order to pay any amount of bills that are being presented to her. Thus, Brunei can afford to procure all the wind turbines that are required.
Think about it!!!
