By Stephen Kangal
March 22, 2017
All Caribbean peoples living at home and in the diaspora will exult with their mainland Guyanese counterparts over the successful 100,000 bpd discoveries of oil by Exxon Mobil off-shore of Guyana. The sub-regional oil balance will be tilted in favour of Guyana. T&T’s 100-year exploitation of oil and the current sub-regional supply monopoly is in steady decline. It was only aggravated by the Petro-Caribe initiative of former Venezuelan President Chavez targeted on Caricom countries former markets of Petrotrin totaling 60,000 bpd.
Continue reading ‘Guyana on the Brink of an Oil Bonanza’
By Raffique Shah
November 30, 2014
In the current oil prices turmoil that has sparked much speculation, rumours of doom and gloom, and seeming indifference on the part of Government, the few in the country who know and understand what’s happening at the global level owe it to the nation to let their voices be heard.
We cannot believe the politicians. Over the past few months, as the price of West Texas Intermediate (WTI) crude slipped from US$105 a barrel in June to below US$70 a barrel last week, Finance Minister Larry Howai and Energy Minister Kevin Ramnarine were singing, “Don’t worry, be happy!”
Continue reading ‘Politics and oil—a deadly cocktail’