The High Cost of Offshore Oil and Gas

This briefing by the Center for International Environmental Law examines the environmental, climatic, and economic risks associated with offshore oil and gas expansion in the Wider Caribbean, arguing that such activities threaten sustainable ocean-based economies and violate international legal obligations to prevent climate harm.

• The Wider Caribbean is experiencing a new wave of offshore hydrocarbon activity, with Guyana becoming the region's fastest-growing oil producer and Suriname recording major discoveries. Trinidad and Tobago has a long history of production dating back to 1908, focusing on natural gas and related industries like LNG, methanol, and ammonia.
• Offshore oil and gas activities pose severe risks to marine ecosystems, including coral reefs, mangroves, and fisheries. Models indicate that approximately 83 percent of the Caribbean Sea is susceptible to oil spills from shipping routes, and there are an estimated 250 annual oil spills in the Caribbean Sea and Gulf of Mexico.
• Chronic oil pollution has caused documented ecological damage in the region, such as reduced coral cover near refineries in Aruba and adverse impacts on coral physiology in Panama's Bahía Las Minas.
• Climate change increases the vulnerability of offshore infrastructure, while the infrastructure itself contributes to the problem. The IPCC projects that almost all port and harbor facilities in the Wider Caribbean will face future inundation due to sea-level rise, which threatens both the oil and gas sector and the tourism industry.
• The region's economic dependence on fossil fuels creates vulnerability to price shocks and market changes, potentially undermining more sustainable sectors. Tourism is a critical economic driver, contributing over 11.4 percent of the region's total GDP and 2.75 million jobs in 2023, while small-scale fisheries and aquaculture employ nearly 540,000 people across seventeen CRFM member States.
• Economic analysis in Belize suggests that the long-term benefits of protecting the ocean for ecotourism and fisheries outweigh the projected gains from oil extraction.
• There are significant legal and governance gaps in the region. While the Cartagena Convention addresses pollution control, it does not prevent extraction. The document notes that international bodies like ITLOS and the ICJ have established that States are obligated to prevent marine pollution and climate harm, suggesting that failure to protect the climate from GHG emissions from fossil fuels may be an "internationally wrongful act".

APA

Campos, B. (2026). The High Cost of Offshore Oil and Gas. Center for International Environmental Law. https://www.ciel.org/wp-content/uploads/2026/04/High-Cost-of-Offshore-Oil-and-Gas-in-the-Wider-Caribbean.pdf

Chicago

Campos, Bruna. The High Cost of Offshore Oil and Gas. Center for International Environmental Law, 2026. https://www.ciel.org/wp-content/uploads/2026/04/High-Cost-of-Offshore-Oil-and-Gas-in-the-Wider-Caribbean.pdf.

Wikipedia

{{cite report |last1=Campos |first1=Bruna |title=The High Cost of Offshore Oil and Gas |publisher=Center for International Environmental Law |date=April 2026 |url=https://www.ciel.org/wp-content/uploads/2026/04/High-Cost-of-Offshore-Oil-and-Gas-in-the-Wider-Caribbean.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{campos2026high, author = {Campos, Bruna}, title = {{The High Cost of Offshore Oil and Gas}}, institution = {Center for International Environmental Law}, year = {2026}, month = apr, url = {https://www.ciel.org/wp-content/uploads/2026/04/High-Cost-of-Offshore-Oil-and-Gas-in-the-Wider-Caribbean.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }