Lawrence Duprey, of CL Financial, faced the nation with the news that TT would soon be the country with the largest Methanol plant in the world — all media hype. One should bear in mind, that this is the same Lawrence Duprey of “Dollarisation” fame, who favoured linking the TT dollar with the US dollar. Had we gone that route, we would have found ourselves on a roller-coaster ride, now that, the US economy is in a downward spiral. Conversely, the TT dollar is now stronger than the US dollar.

The good news is that TT does not need a Methanol plant of such mammoth proportion.

What do we stand to benefit from having the largest Methanol plant in the world, on our shores? Are we a major gas producer? I doubt it.

We are plagued with a work force, well known for its bad work ethics and are habitually saddled with Governments with the proclivity to react rather than act.

Even if the convergence of conglomerates in search of ventures in TT confuses us, we should be aware of our world image which is that of “Lilliputians.” Foreign businessmen visiting our shores, view themselves as Gullivers, visiting Lilliput. (TT) Ask the residents of Mayaro/Guyaguayare, about the benefits derived from the presence of BP and its exploration of the gas and oil in the area. The people of Couva shared a similar fate.

With the infusion of Point Lisas into the community, there was no marked socio economic improvement in their lives, except for an unprecedented transformation, in the character of the neighbourhood — an abundance of air-pollution. Point Fortin cannot be left out with the acquisition of ALNG, a $2 billion dollar enterprise with projected (conservative) revenue of $20 billion in 10 years.

The ALNG, is yet to put its money where its mouth is with regards to the development of Point Fortin, ALNG like its counterparts Point Lisas and BP, “cry havoc” on Point Fortin in the form of forced dislocation and relocations, an under utilised work force, air pollution and mass-destruction of our beaches. We are still waiting; with bated breath for the ALNG to deliver the largesse.

We need another major enterprise in TT as we need a hole in our heads. What good would it do to our already faltering economy?

It will trigger the overheating of the economy, consequently, leading to escalated inflation.

What will this grandiose methanol plant be able to do in the scheme of things that the existing conglomerates have not been able to accomplish?

I have set out to highlight a few of the “made to order” ventures, with the potential to generate enormous revenue for TT, that are constantly being overlooked. Some are under utilised while others are neglected completely. Let’s begin with Fisheries.

We pollute our waters with hazardous chemical waste, with help from many foreign countries that use our oceans as dumps for toxic waste which is done with loose-abandon.

The marine-life that survives the onslaught is being encroached by neighbouring Venezuela and fishermen as far afield as Japan.

The latter continue to do damage to our marine life, with their giant high tech trawlers, with the capability to scrape the sea-beds, rendering them inadequate to provide the natural habitat required for the spawning of the surviving fish eggs. If this is not an indication of total disregard for the conservation of our natural resources; what is?

Secondly, the Pitch Lake, the most lucrative piece of real estate anywhere in the world, is one of the natural wonders of the world.

This is illustrious status, when taking into account, that there are only seven natural wonders of the world. Despite its renown, the Pitch Lake has been left to languish in obscurity, in its primitive natural state with no enhancement to attract or engage the interest of tourists, a major tourist attraction.

The Asphalt that is extracted from the Pitch Lake is said to be of the highest quality of Asphalt anywhere in the world. Just ask the people of Europe in general and that of Germany in particular. We continue to squabble over whether to divest the Pitch Lake, or allow it to remain as a monstrosity, surrounded by bushes and trees and consequently, used for the grazing of goats and cows.

As we speak the Pitch Lake’s potentials as a lightning rod to spur our faltering tourism in TT and its high quality Asphalt, one of the best in the world, continue to be ignored. Governments come and go in TT but the Pitch Lake remains the same.

TT has a stranglehold on skewed priorities. A case in point. We are contemplating running gas-pipe lines to Central America and islands in the region yet the nationals of TT are still salivating for pipe-borne domestic gas, in their homes. CL Financial, the energy sector powerhouse, has recently acquired one of Scotland’s independent whisky distillers for a sizeable sum.

I must admit to having problems balancing my cheque-book, so it is not for me to pass on advice to a savvy businessman as Lawrence Duprey.

Just from a practical point-of-view, pipe-borne gas to every home in TT, is far less speculative than the acquisition of a World Brands distillery and the largest Methanol plant in the world.

After all is said and done Mr Duprey- this is just from a TT perspective.

ULRIC GUY
Point Fortin