THE EDITOR: Oil refineries are making nearly five times as much money as they did a year ago, recent data show. Just look at the article published in the BBC News of June 10, 'Refineries cash in as petrol prices soar,' by business reporter Ben King.
A lack of capacity to refine petrol and diesel from crude oil has helped to increase fuel prices to record levels, and increased profits for refineries worldwide.
Petrol prices are at an all-time high but poor Trinidad and Tobago no longer has a refinery. The worldwide lack of refining capability has contributed to high fuel prices in many countries, including TT, and now we see why it was so important to keep Petrotrin up and running.
Now we see the real business acumen of our Prime Minister and his energy technocrats. We would have been making a killing if our esteemed Prime Minister did not close down the refinery. Not to mention that we would have had a steady stream of foreign exchange that is so desperately needed now.
The impact of the closure of Petrotrin to the economy, the employees and their families were devastating. It has had a domino effect across the country, putting thousands of families on the breadline, as well as hundreds of contractors and service companies that depended on work from Petrotrin. Now we are seeing the real cost of that closure.
We have experienced one of our highest unemployment rates since the 1980s recession upon the closure of Petrotrin. Unemployment ranged from highly skilled to unskilled including geologists, engineers, accountants, health, safety, security and environment professionals, lawyers, operators, technicians, mechanics, pipe fitters, labourers, janitors, etc.
GDP continues to spiral downwards as production power is reduced and import bills get constantly higher. Forex has been affected tremendously and we do not seem to be able to find a light at the end of the dark clouds.
The unfortunate truth is everything is extremely hard now financially for the working class and our prospects look dim. The Prime Minister and his energy team made some unintelligent and selfish decisions that have now come back to bite us in our behinds.
How can the TT economy find a way to sustain itself if there is no energy plan? If there is no refinery? And if there is no new natural gas finds in the near future? The price of fuel is so high at the moment that the average citizen cannot afford to pay for it.
The Government has made it clear that it cannot afford to pay increased wages to workers, and prices of basic food items, basic necessities are rising daily because of fuel prices. We are seeing the unions begging for decent wage increases through public sector negotiations. They have to face the reality that every citizen faces now - we just can't afford to pay for it.
We have reached the lowest point - loss of hope and utter despair in our leadership. Prime Minister Rowley's vision and direction have surely taken us to the brink of failure.
NEIL GOSINE
via e-mail
The post Bad Petrotrin decision co
