The CNN World news on 7th June 2008 stated that world scientists have predicted oil will run dry in 40 years. To construct an underwater airport at Argyle knowing that oil will run dry in 40 years is an act of economic and immoral madness by the incompetent ULP regime leadership. The ULP regime has not done an Environmental Impact Assessment or produced a financial analysis to justify the underwater airport.

There is no air access problem to and from SVG. The Canouan airport, which recently re-opened, has a much longer runway that can cater for flights to and from the USA, Europe and the region. There is no financial and economic argument to build the underwater airport at Argyle.

Even though in 40 years oil will run out, in less than 20 years it will be too expensive for flights to a small tourist spot such as St. Vincent. Already in Europe, Ryanair has warned its profits may halve this year because of the global economic slowdown and rising oil prices. In May 2008, the cost of a barrel of crude oil reached a record price of $135 and has remained above $130.

American Airlines (AA) has confirmed that it is considering reducing flights on some Caribbean routes as part of measures to cut soaring costs blamed on high fuel prices. AA will start charging $15 for the first checked-in bag. Chairman and CEO Gerard Arpey said that flights from New York and Miami to unidentified Caribbean destinations are likely to be considered for the chop. He said the airline couldn't afford to keep any routes that aren't profitable.

Caribbean tourism ministers were invited to a special meeting to discuss the impact of possible flight cuts by American and other US carriers. St Lucia's Tourism Minister and Chairman of the Caribbean Tourism Organization, Allen Chastanet, has already warned that the Caribbean region should brace itself for a fall-off in holiday bookings.

All these factors illustrate that air travel in 10 years time (the earliest the proposed underwater airport may be completed) will be too expensive for people to travel to SVG in any significant numbers. SVG lacks the beaches and infrastructure to make it a worthwhile expensive mass tourism destination as oil prices rise.

There would be substantial social and environmental negative impacts for the people of SVG if the short-sighted ULP regime pursues the underwater airport. Already many families have been unnecessarily displaced for this political madness. The SVG Treasury, already practically bankrupt, would not be able to carry further debts expected with the underwater Argyle airport.

SVG Green Party says that the sustainable way forward for SVG is with a knowledge-based economy. Dependence on oil must be reduced in parallel with an increase in university educated Vincentian children. Knowledge-based economic industries are more sustainable, productive and financially secure for Vincentian children. To further this aim, an SVG Green Party government will build a university in SVG and make it free for all Vincentian citizens.

Knowledge is the way forward. The ULP regime is a prime example of what can go wrong when a regime acts without knowledge – economic instability and financial insecurity!