Sep 1, 2004
Trinidad is using its oil and gas wealth wisely to build an advanced society. Will it be able to forge crucial international partnerships in time?
Trinidad's Prime Minister Patrick Manning wants to lift his country out of poverty and become a fully developed state by the end of the next decade. The country's substantial - but dwindling - reserves of oil and gas are the key to this. "One of our mandates is to develop our people and our country and we want to achieve a standard of living that is equivalent to a developed country by 2020," says Eric Williams, minister for energy and energy industries.
However, the country is literally running out of time and energy. "Crude oil reserves, at an estimated 990 million barrels, are expected to last only another decade unless new reserves are found," according to the Energy Information Administration at the US Department of Energy in Washington. And how can Trinidad maintain its lucrative 77% share of US liquid natural gas (LNG) imports and still have enough gas left...
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