Even as Guyana becomes increasingly preoccupied with the 2020 timetable for the commencement of oil and gas recovery, the ongoing efforts of Trinidad and Tobago to diversify its economy away from the fossil fuel ought to be an object lesson for the new kid on the block as far as the fossil fuel sector is concerned.
The word out of Port of Spain last weekend is that the American Chamber of Commerce (AMCHAM TT) is concerned over the economy’s continued heavy dependence on oil and gas for revenues and continues to advocate a diligent diversification effort that focuses on other sectors that can help support its economy.
AMCHAM TT is quoted in its 2017/2018 budget submission as saying that “It is necessary that targets, timelines and responsible agencies be established to ensure that diversification is done by sectors and in such a way that we can flag and do corrective interventions when necessary.”