Tell us about gas prices
It is somewhat puzzling to follow the post-budget debate in Trinidad and Tobago. Specific reference is made to the nature of official responses to commentaries on the likely impact of the current global crises (financial and economic) on the future well being of citizens.
The country's 2008/2009 budget was predicated on an oil price of US$70 per barrel. I do not recall at any time-perhaps it was in the fine print-a reference gas price being identified or highlighted in the budget presentation or the ensuing debate. And yet many official spokespersons have been repeatedly lecturing us on the point that T&T is a gas, and not an oil, economy. The implication is that we should not be worried about declining oil prices.
My question is, given that we are a gas economy, why was the 2008/2009 budget not predicated on a stated gas price? Perhaps it was. If so what gas price was used and how is this price holding up during the current economic turmoil? And why aren't we using the price of gas as the trigger for mandatory contributions to the Heritage and Stabilisation Fund?
I am confident that it is possible to obtain some clarity about this seeming conundrum.
A Confused Citizen
via email
Wednesday, October 29th 2008 / Trinidad Express
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