1. As @cwrioclaro writes, “It is hard work and requires a lot of thought and analysis to make changes to the fiscal terms for the energy sector.”
https://twitter.com/GuardianTT/status/1534848680230014978
2. But the Finance Minister, @ImbertColm, obtained a Master’s Degree, in Oil and Gas Law, with Distinction, with a specialisation in Fiscal Regimes and Oil Taxation from the University of Aberdeen in 2016. finance.gov.tt/our-people/min…
3. Incidentally, the University of Aberdeen has this to say about #Trinidad’s #oilandgas fiscal regime. 
4. @ImbertColm has been promising a new fiscal regime that will encourage investment & stop the decline in production/reserves since his 1st budget in Oct 2015. He’s failed to deliver on either, with the consequence that there’s been no economic growth. finance.gov.tt/wp-content/upl…
5. In his 2nd budget in Sep 2016, @ImbertColm explained that, for free, the IMF had provided advice on changes to the fiscal system that would both promote investment and ensure that the government received a substantial share of the subsequent profits. finance.gov.tt/wp-content/upl…
6. Having had almost seven years, a Master’s Degree in Fiscal Regimes and Oil Taxation, and free advice from the IMF, you’d think that the revised fiscal scheme would be in place by now.
7. In his 1st budget, @ImbertColm warned that there would be limited economic growth if energy production didn’t increase and committed himself to increasing it by reforming the fiscal system to incentivise investment. He didn’t, production has fallen and there’s been no growth.
8. The failure to reform has been an economic disaster for #TrinidadandTobago. And still the government dithers. ab-76.blogspot.com/2022/06/broken…
@threadreaderapp unroll
• • •
Missing some Tweet in this thread? You can try to
force a refresh
