Saturday, November 18, 2006

Last in the race and happy about it

Everytime I see the oil companies touting the local building of production platforms my heart sinks because we are being misled into thinking that this is a world leading development. The fact is that in the Keppel Yard in Singapore has been producing jackup and semi-submersible rigs four and five at a time for years. How can a country who was way behind Trinidad and Tobago at the time of Independence (both in 1962) leap so far in front of us. We had the resources, the education system, the inferstructure, the geographic location but what happened?
Trinidad is still stuck in the development plan laid out by Dr Williams and the present government has not moved forward. Build large industrialised estates and that will solve the problem!
The fact is that we now see countries such as Qatar with the 3rd largest gas reserves in the world moving away from the heavy industry to light industry and high tech as a means of sustainable development.
I am sorry to say but Trinidad and Tobago is far behind its contemporaries from 30 and 40 years ago and when we experience the next oil shock it could mean the end of our way of life. That may seem far away but oil prices have been falling daily on the international market and that is for winter delivery.