Caribseek Trinidad and Tobago News | 'False hope' for more T&T oil - Daily Nation

PORT-OF-SPAIN - The oil and gas that Prime Minister Patrick Manning is staking Trinidad's economic future on has not yet been found, and his campaign assurances of further industrialisation is giving citizens false hope, economist Dr Patrick Watson said on Monday.
Watson said Manning's certainty about finding more hydrocarbon appeared to be "through some divine intervention". Manning told supporters at a campaign meeting in Point Fortin last Friday that talk of the country's oil and gas soon diminishing was not true.
In fact, said Manning, "Neither the oil nor the gas is about to run out in Trinidad and Tobago and since we understand that, we select oil and natural gas as the basis of our industrialisation for the future."
Watson is director of the Sir Arthur Lewis Institute of Social and Economic Studies. Congress of the People political leader Winston Dookeran recently appointed Watson chairman of an economic monitoring unit to determine the state of the Trinidad and Tobago's economy.
The unit has been mandated to examine the issues of public finance, debt, the foreign reserves position and competitiveness.
According to Watson, Manning was giving the country false hope for several reasons. "We are dealing with a person who has a personal belief that, through some divine intervention, oil and gas will be found and I am hoping that he is right because we all stand to benefit from it, but the fact is we should not count on it." (Trinidad Express)
via news.caribseek.com

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