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Double trouble for T&T energy sector

Energy economist Gregory McGuire says the Trinidad and Tobago economy is facing a double jeopardy. This, he said, is precipitated by the fall in oil prices from US$110 a barrel in June to US$65 on Friday. The imminent danger posed by a sustained decline in oil prices was compounded last week by the news that a leak in the National Gas Company’s 56-inch pipeline aggravating an already tight gas supply situation and interrupting electricity generation at Trinidad Generation Unlimited. McGuire noted that “while these developments are completely unrelated, their joint impact on the economy could be devastating.”