Put
the brakes on new energy projects, Mr PM
The Prime Minister recently
boasted about the efficiency of the Government’s
policy of approving projects with a low reserves-to-production ratio. This
is a new twist to his previous approach where he sought to assure the public
we have adequate reserves for his aluminium smelters, melamine plants and
now ethylene production.
At
that time he attempted to mislead us by counting
the “probable” reserves into the “proven” reserves
which simply cannot be done.
Now mysteriously he has put a hold on announcing
the Rhyder Scott audited report on the reserves
for the period ended January 1. No doubt this report
shows the proven reserves have again fallen as
they did for the period ended January 1, 2004.
But release them he must, and let the people see
for themselves.
As we build up our production level, now totalling
four billion cubic feet per day the rate at which
our gas-producing companies must discover gas is
truly amazing. It will take discoveries of 1.5
trillion cubic feet per year to simply stand still
and, at present, we have only 12 years of gas production
rate left.
A
discovery of one trillion cubic feet is a major
one in anybody’s book. Normally 20 years
supply would be the minimum gas in the bank and
I see no reason why the Government should not go
for 40 years since we are now a mature gas producer,
rather than a start up country struggling to get
an investment started.
Evidently
he is gambling heavily on successful results
in the bp Deep Ibis well. But whatever
this discovers it will be several years before
the reserves are delineated and able to be classified
as “proven.”
In
the meantime, the country’s reserves
will have dwindled by many more years of production
in excess of four billion cubic feet per day as
he approves more projects that pull from the same
supply.
And what do we need these projects for?
Everybody
here has a job and we import labour and expertise
to construct ever more industry.
It’s not as though we were a forgotten backwater
where unemployment was problem.
We are creating jobs for the rest of the world
to our own detriment and the Government earns more
revenue than it can spend responsibly (witness
Tarouba and the Waterfront projects).
The
time is past due for a total moratorium on all
new gas-related projects before the country
is totally ruined. Concentrate on infrastructure
and good maintenance of what you’ve got,
and let us build a successful, efficient country
instead of this wild west rat race.
Reg Potter
Glencoe
Trinidad
Guardian
Thursday 13th July 2006
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©2006 Trinidad Guardian. All Rights Reserved.
