The Energy Chamber has commissioned an independent study to better understand the current value of the energy sector to economy of Trinidad & Tobago, as well as to determine where opportunities exist to increase the value in the future. The Energy Chamber has contracted the respected Washington D.C.-based consulting group, DAI Sustainable Business Group (SBG), to undertake this study and quantify the contribution of the energy sector.
Low hanging fruit’ is a term that is frequently used in the discussion around energy efficiency. In its simplest form, it means that the cheapest way to save money on energy is to use less energy. However, using less energy can sometimes be equated with producing less; this is not what we mean by using less energy — what we really mean is doing the same activities and maintaining the same production while using less energy, thereby becoming more efficient.
The recent “fake oil” allegations at Petrotrin has helped propel public discussion on how efficiently the country monitors its oil and gas production. For better or worse, the issue has generated not only salacious stories in the press but actual interest in the existing checks and balances to monitor production. It is clear that the ramifications of lax monitoring can be crippling. In fact, there are billion dollar ramifications if the country does not correctly quantify its energy production, particularly in this current environment of low global oil and gas prices and declining national production.
Based on some of the comments on social media and some of the ‘talk-radio’ shows, I seem to have upset a lot of people in Trinidad and Tobago by calling for a policy of removing subsidies on electricity.