Tuesday, December 16, 2008

Thirsting for Stability!

"The global economy is in its worst! I don't see how our tourism market share for the island will have us remain profitable as most businesses if not all are geared towards tourism in general!", stated a friend of mine who expressed himself openly. This friend is a CPA and MBA and I look to him for advise as he looks at the overall picture and analyzes them religiously.

As with the rest of the world facing tough economic times, the recession, it is no wonder that we all thirst for stability once again. Take for example our island, Saipan. During the CUC fiasco power outages, we complained, we huffed and puffed, we gave the bad look, the bad public statements, but none attended the forums that would enable the community to be powerful enough to make that change. However, getting back to the point, we had no power for days on intervals, "load shedding" in better terms. During that time, frustration, anger, hatred and everything else that you could muster to criticize the CUC was stated, spoken off and publicized.

Then when the power came back, fuel rates remained high, no one conserved power as the utilities was once again a convenience. Only when the power bills started coming out, we saw yet another tantrum on the rise. Funny that I use this to explain the global economic condition, but I assure its all on the basis of how we think and apply to each circumstance. The power we were so used to recieving is like the economy that poured in from the consumer when things were great. With a cut in consumer support from great economies, its like our power being cut off, when the global recession decides to revamp itself in time through global leadership making the drastic changes to adapt to our everchanging economical status, we too will experience the greatness of economic recovery at a convenience. Today however, despite the recession, people still are spending but on what these days? I am sure on necessities only? Yet, consumer products remain high, jobs in the Commonwelath is scarce, if you have one, keep it and perform to maintain it. We are in for the worst of economic hardship, can we ask for bail out?

I am pleased to hear the US Congress has authorized CIP funds for the CUC generator repairs, but now I am inclined to ask about the "Fuel Farm" idea that will stabilize fuel prices. Based on the economic study from the University of Georgia (if I recall correctly) on the CUC fuel rate implementation.  They are now saying that we 
must defer from the fluctuation of fuel based on the barrel selling price, which we all know jumps sporadically.  They say base it on the average and run it for a period of 6 months at a time, now I feel that the fuel farms are more needed with this attempt to stabilize fuel pricing.

As of last night, pirce for gas is at $2.97 at the pumps, wow, it is nice to see my $20.00 go a long way in the car, whew! What a relief!

2 comments:

1nce A Week Writer said...

From what I know briefly, maybe fill me in later, I guess the fuel farm isn't adequate enough to convince other suppliers that we can store fuel yet. Its possible that the gov. hasn't found funding for this type of project. Does mobil own those tanks for the fuel farm or is it by the government?

Road-Block Blogger said...

Ai Adai brother... There could be a million reasons why the fuel farm idea was thrown out, disposed off, etc. The problem is we do not have an alternative means to protect consumers on the islands from global fuel hike rates. Given our remoteness in the Pacific, something would be at least a turn of events for the people who are constantly suffering.

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Just a simple man who loves and cares for his family. Personal views with life in general, business and challenges in the Commonwealth of the Northern Mariana Islands. Sharing what we have through publications BISON Relations push out for everyone to keep abreast of what's happening in our beloved island home, Saipan.