Since October 2006, after analyzing the National Budget, the Movement for National Development (MND), drew to the attention of the national community the issue of falling energy reserves in the country.

The proven reserves have actually fallen over the past 2 years, not increased, and it is no longer acceptable for the Government to bank on ‘probable’ and ‘possible’ reserves, as is their policy as articulated by the Prime Minister himself. We also find it more than strange that the actual numbers relating to energy reserves; usually published early in each year is yet to be published for 2006 although the year is ending in just a few days!

The recently announced abject failure of the Government to attract more than one bid from the international energy companies to drill the deep water well fields, clearly demonstrates that not only is this government out of touch with its own people, but with the International energy companies too. It is this incompetence at all levels, which defines the state of government in Trinidad and Tobago today. It should not be possible for a Minster of Energy to continue holding his position after such a fiasco.

We again note the failure of the government to successfully attract the attention of the international energy companies to develop its oil exploration capability, and yet we see the Barbados government, as a newcomer able to attract the international oil companies! What does that say for us? 

Not only does this latest fiasco point to a delusory government, increasingly out of touch with the real world, but also to their fanciful ideas about smelter development or unplanned industrial development in the country.

We understand that the first proposed smelter will require electricity equivalent to half the country’s current use, depending on heavily subsidized natural gas for its generation. Where exactly is such gas actually coming from? Ideas of further smelters become even more stupid!

The required gas can only be from one or two sources. Either we have additional energy coming on stream, which we intend to sell at below market prices or the government intends to divert natural gas from existing, more lucrative contracts, to the smelter plants.

Neither scenario works in our interest.

We are also sure that the international energy companies, who actually sell their gas currently at international market prices, will not accept a lower price for smelter electrical generation.

The government is again fooling the country about the use of these probable reserves; the Movement for National Development (MND), is well aware that the government’s policy is to continue to carry the country down a slippery (oily) slope, as its dependency on energy windfall monies is being frittered away for no sustainable purpose, with reducing prospects of replenishment.

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