Guatemala's president announced a plan to reduce the country's dependence on foreign oil. The initiative will depend instead on foreign investment, somewhere in the US$2 billion range. President Alvaro Colom said the investment would buy the generation of more than 920 megawatts of electricity, and would permit a medium-term revamp of the country's energy mix. At present, 46% of the electricity in Guatemala comes from bunker fuel, the heavy residue at the bottom of the barrel, after gasoline and diesel have been distilled away. But even this stuff has been subject to enormous increases in price.
NotiCen writers. "Guatemala veers toward the traditional in its quest for energy independence." (2008). http://digitalrepository.unm.edu/la_energy_notien/141