Rowley vs. Alcoa
Alcoa gets a special mention in the “Dotish Talk” column today. Not specifically because of anything they said, but because of Keith Rowley’s blabberings.
In the red corner, Keith Rowley, Government Minister. Minister of Housing, but refreshing qualified to support any Government initiative. In the blue corner, faceless corporate giants, Alcoa. You be the judge.
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Vs. |  |
| Dr. Keith Rowley | Alcoa | |
| “Today we listen to those who talk about diversifying the economy, the coming of an aluminium smelter is a signal to that, because an aluminium industry is the creation of a completely new aspect of our economic develpoment.” | “In February 2006, Alcoa signed an agreement in principle with the government of Trinidad and Tobago to build and operate a modern, low-emission aluminium smelter in the south-west of the country, based on energy derived from Trinidad and Tobago’s vast natural gas resources.” |
Is anyone else confused? I’m sure when “they” talk about diversifying the economy, they’re talking about diversifying away from oil and natural gas. Alcoa wouldn’t be here if it weren’t for our natural gas, and well, the Government’s stupidity. They even said it on their website. Their coming here is based on energy derived from Trinidad and Tobago’s vast natural gas resources. How much clearer could it be? However on page 9 of today’s Guardian, Rowley is telling the house that the smelter is an attempt to diversify our economy.
Alcoa’s entrance would require T&TEC to double its output and since our natural gas reserves are estimated to last about 17 years, bringing Alcoa here is a back door method to ensuring that in a few years’ time, we’ll have to diversify.
So who do I believe? The Government minister or Alcoa? I’ll take my chances with Alcoa on this one.
7 Responses to “Rowley vs. Alcoa”
By Anonymous on Aug 30, 2006 | Reply
the correlation implied by Alcoa’s statements are only part of the story for it is the global market determines the TRUE correlation between the aluminum industry and the natural gas industry. from this perspective this is genuine diversification.
By Mani on Aug 30, 2006 | Reply
Well I would disagree with you. If it weren’t for our natural gas Alcoa wouldn’t be here. It’s true we are getting into the aluminium business, but it’s still based almost entierly on gas.
What happens tomorrow if the oil and gas disappears? Will Alcoa stick around? I doubt it. They did say afterall it was “based” on the energy derived. So how can we as a country really be diversifying if we depend on it for these secondary industries?
True diversification will come only when we can create money-making opportunities that won’t thrive or fizzle due to the availability or price of oil and gas.
By Chris on Aug 30, 2006 | Reply
Not a comment in relevance to the post, but just wanted to say keep up the great job with the content you provide. As a TnT national outside (tooo long) of TnT, it’s nice to see people using the net to be heard, and discuss important issues.
Regards
Chris
By Anonymous on Aug 30, 2006 | Reply
manicou, not sure if i understand your response. is t&t’s natural gas resources going somewhere? from my understanding of aluminum smelting, natural gas is a factor of production.
By Mani on Aug 30, 2006 | Reply
Chris Well thanks a lot man. I really appreciate it. I really had expats in mind when I started this blog, having lived away myself.
Well I hope, you’ll come back.
Anonymous - Is it going somewhere? Well natural gas isn’t exactly a renewable resource. It’s estimated that T&T natural gas reserves (at current extraction rates) will last about 17 years. So in that respect yes, I guess it is going somewhere.
Yes natural gas is a part of aluminium smelting. However my concern is how much we are going to be compensated for it. The suspicion is that it’s not nearly as much as if we sell it on the open market. By the way, do you know that neither the Government nor Alcoa will tell us how much they (Alcoa) is paying for this gas? Secondly I have concerns about the polution Alcoa will unleash on us. Especially as Alcoa is building the smelter on an aquifer.
Thanks for stopping by!
By Hottie Hottie on Sep 4, 2006 | Reply
Apparently you guys don’t understand ‘Rowleyspeak’. The diversification of the economy that he’s talking about refers (guardedly) to the fact that the government is creating new sectors of the economy that its members can fleece from and accept bribes for.
By Mani on Sep 5, 2006 | Reply
Damn it! I forgot. So they are actually only diversifying corruption methods. right,right. lol