Opposition says Energy Sector on unsteady ground

Home*Cover Story*Government

Opposition says Energy Sector on unsteady ground

OPPOSITION MP David Lee says that the energy sector is on unsteady ground. Addressing the United National Congress (UNC) Monday night virtual report meeting Lee compared the energy sector to a man who built his house on sand, placing its fate on high energy prices without any sustainable work, policy or vision.

Lee warned that the minute the high oil and gas prices linked to the war between Russia and Ukraine decreases, the entire economy and TT’s revenue stream will crumble as there are no incentives to sustain competitive production.

He said not a single dollar in increased energy revenue was due to any policy or plan by this government, but as a result of the European war.

Government’s strategies to boost production has failed he said, pointing to the failure of to attract international players to the deep and shallow water bids or the promised Dragon Gas.