DISCOVERY OF OIL will change the world view on Guyana and lift the image as a country that is no longer seen as poor but is fast moving from potential to prosperity.
Meanwhile, in Trinidad: GREED and CORRUPTION mashing up the SOCA YARD (ah steal that line from DAVID RUDDER)!!! And we are going to have to IMPORT OIL at MARKET VALUE.
Rowley make AH SECRET GAMBLE with Venezuela -- if that BACKFIRE ... everything get monkey up and ALL FALL DOWN!!!
When TTO, the fuel of the British and American war effort, began refining oil in 1910, environmental protections were almost nonexistent. As far as the production technology at that time could have taken all that you wanted out of the ground. It had a high level of sulphur content,...financially it didn't matter, comparative cost washed out the economic and financial value benefit to the Anglo American agenda of winning the war, using our pitch and oil.
Fast forward to 1985, Texaco decided to get out of the refinery business in this Republic having closed their refineries at Curacao and Aruba,...for the reason that from a business standpoint, their comparative cost of refining the oil, relative to global averages, did not make it profitable for the company to continue as such,...especially given at the time PM George Chambers was not in the business of looking to buy any refinery at oil hovering at 9 USD a barrel...Low and behold, TEXACO say ayo-pancho....leaving with 185 Million TTD and 10 months of supply products to the Chambers administration, neophytes themselves in the refinery business..
The Point is we have been importing oil for years, decades and infinitum it seems, to blend with our high sulphur content crude, to refine it, make products and sell those products in the open market; Why??; because our crude as it stands at 4 USD < benchmark comparatively because we get next to nothing to the point of the crude having to be dumped, because nobody outside of TTO is buying crude with high sulphur content. Environmentally, and comparatively, it would be difficult to find a market for local crude when Petrotrin is shut down....
We might live in a different world now..Reality is that is the same players, doing the business of hoodwinking at cyber speed.
Funny thing is though, the Ultra Low Sulphurization Plant for Diesel at PETROTRIN is 90℅ complete.. One wonders who will benefit from the largesse of that patrimonial investment...but alas Thackway Driver aka Max of the Energy Chamber holds his tongue.,....
What is shocking to me is that KAMLA does NOT UNDERSTAND the POLITICAL ECONOMICS of SHUTTING DOWN the REFINERY. That is such an EASY READ!!!