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Exxon\Mobil must not walk away with TT money

THE EDITOR: It seems that the Government is sending out mixed signals to the population. On one hand we have Diana Seukeran saying government must be 'lean and mean and can no longer be the agency for dependency.'

And on the other we have Patrick Manning allowing a multi-billion dollar corporation to literally walk away with TT$250 million dollars.

The Prime Minister must bear full blame for this confusion and its political fallout. As a geologist he should appreciate the fact that drilling for oil is still 'hit or miss' science, although the introduction of seismic surveying has greatly increased the possibility that oil will be found.

I think the technocrats at the Ministry of Energy were well within their rights to blow the whistle on Manning. As they are in the position to make sure that public funds are spent wisely.

The Prime Minister fails to realise that there is a sanctity of contract. Exxon/Mobil outbid five other companies and paid US$68 million as a signature bonus. If the penalties were too steep, I am of the opinion that their lawyers should have dealt with that problem during the negotiation stage.

The population must not be duped into believing that the waiving of the penalty in exchange for Exxon/Mobil conducting a three-dimensional seismic survey for oil on fields owned by Trinmar, which to my knowledge is not necessary and will bring no tangible return to the people of Trinidad and Tobago at this stage, and investing US$25 million in the conduct of a three-year exploration programme in the Soldado area are just.

At a time when the government is talking about raising water rates, TT$250 could help build schools, roads, bridges, investment in higher education, are just to name a few.

If the Prime Minister allows Exxon/Mobil to walk away from this contract with our money in their pocket what stops him and his government on going back on the promise of social, economic and political development outlined in his manifesto?

COLLIN J PARTAP
London, England

Newsday/TT

Trinidad and Tobago News

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