Nothing strange about making financial adjustments
Dear Editor:
I spent the last few months in 2014 observing the declining price of oil. It reduced from over 100$ a barrel to just under 60$ to date. How significant is that to our economy? Do we simply consume what is being painted as a doom and gloom for our economy or do we try to put everything into perspective?
We are not an oil economy. Our main income generator comes from the natural gas sector. In fact our hydrocarbon revenue is derived in the following split, 85% natural gas and 15% oil. The budgeted price for gas was 2.75$ per MM/BTU. The average price of natural gas for the past two years has been sustained over 3.00$ per MM/BTU. Whilst we do gain revenue from oil and it has been reduced, it is important to understand the overall dynamics of our income streams.
Let’s move into the mind frame of a developed society. In order to achieve this, it will mean that we must be able to take that reality of the status of our economy for what it really is and make the required financial adjustments to suit. Even in our daily lives we must do this as individuals.
Let’s not pretend that these adjustments are the end of the world. Reduction in finances is a global problem and not for Trinidad and Tobago alone.
Margaret John
via email