Comments: There seems to be something fishy about the future prospects of our natural resources of oil and gas. The indication that first drew my attention to this is the sudden trip by the Prime Minister to the USA persuading the oil experts to try to find more oil and gas here. Prior to that he visited Venezuela to draw up some and signed some sort of agreement for supplies of gas from that country. Recently he again mentioned something about the construction of a long pipe line to supply gas from another far distance area near Venezuela. Prior to all this an expert in the field of these two natural resources predicted way back in 2011 that we will sooner than later suffer from a shortage of gas. And by the looks of the sudden interest and statements by ministers about the shortage of the supply of gas here, he was right. This morning there is another article in the local Newsday newspaper by another politician about our oil and gas industry stating and how we could look forward to MORE gas supplies in the next 12 months and about further drilling by the big oil companies to find more oil here. Now these sudden local appearances of different reports surrounding our oil and gas supplies are very suspicious, especially bearing in mind, the various reports on the Internet by experts in the gas and oil industry about the future of the oil and gas industry in Trinidad.Almost all of these reports clearly predict a rapid depletion of these commodities and the need for quick and thoughtful diversification here in order to maintain a reasonable standard of existence in the future. In one report it mentions the rise in poverty and its association to the decline in the wealth of this nation. Moreover, no one has mentioned the amount of money being paid to the oil moguls for the search for more oil and gas and the laying of another lengthy gas pipeline,which could mean a drain on our already shortage of Treasury funds. We must also bear in mind, that an oil expert has more or less already indicated a few years ago that our oil resources are being depleted at a rapid rate which has been caused by over extraction. The question now remains as to whether we have anymore oil or gas left within our off shore boundaries.
Comments: It is great news that BP has officially announced the new gas finds off the the south of Trinidad. This however,seems a rather quick find bearing in mind that it was only a few weeks ago the Prime Minister consented to the drilling here. Why was this not discovered earlier?. Why was it necessary to draw up another agreement with BP to search for gas that was supposed to be depleted by and expert, and why did the Prime Minister made a recent agreement with the Venezuelan government to supply this country with gas?. Moreover,why did the Prime Minister get involved with an agreement to build a very long pipeline to supply gas here?. Why could he not wait until BP had completed their survey, bearing in mind the speed in which they discovered these new gas fields?. Surely BP would have some idea of how long it would take for them to have some results. One thing that is missing out of the agreement with BP to search for more of our natural resources,and the building of a pipeline is the cost for their services and that of building the pipeline. Bearing in mind we are in a recession and every one has been asked to tighten their belts, could some one reveal the amount of dollars that are being paid to BP for their survey,and drilling,and the cost of building the new pipeline. Something that has been omitted for all the statements made on the BP agreement.Surely this is not a state secret,and should be of interest to our taxpayers.
Comments: Now that the Prime Minister has received the report on Petrotrin's future which shows a decrease in its annual profits and with half of this being paid to it 5000 workers,it is now obvious that the future of this industry is earmarked to get worse, It is therefore advisable that he starts thinking of diversification on a grand scale. He must bear in mind that even with the recent find of more gas, our natural resources is not going to last for much longer. Not only that with the falling prices of gas and oil worldwide this country will find it difficult to maintain its financial stability by relying solely on the income only from oil and gas.Poverty will in the meantime grow at an alarming rate which in the end will only lead to more crime and unrest among our ordinary citizens. It is now exceptionally essential that he put diversification at the top of his list to ensure or survival of this nation, as sooner than later our politicians will have to kiss goodbye to easy money flowing into the Treasury.
Comments: It looks very much like another nail in the coffin of our oil and gas exports now that the Americans have announced that the USA is about to become an exporter of oil and gas which will also lead to a further fall in prices of these commodities. One must also bear in mind that the UK has also been experimenting in drilling into shale to find oil ans gas.which is proving fruitful. I hope our politicians are reading the message quite clearly because it is about time they start a serious program of diversification before its too late.