Page added on May 6, 2006
Palm trees conjure an enduring image of the South Pacific, providing shade on a white sandy beach as the water gently laps the shore and coconuts for cocktails garnished with small brightly colored paper umbrellas.
But many impoverished Pacific island nations are also looking to coconuts to combat soaring world oil prices and cut severe balance of payment deficits by using coconut oil to make biofuel.
..Papua New Guinea, Fiji, the Solomon Islands, Samoa, Vanuatu, the Federated States of Micronesia, Tonga, Kiribati, the Marshall Islands, the Cook Islands and Palau spend more than US$800 million a year on fuel imports, SOPAC says.
In half of those countries fuel imports account for more than a quarter of total imports.
“Given the expected continuing rise in fuel prices and the increasing demand for energy supplies, without any indigenous fuel substitutes, Pacific island countries’ balance of payments can be expected to further deteriorate,” the SOPAC report says.
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