RICARDO MITCHELL
US President Donald Trump is a disruptive force. Nations are either recoiling from his declarations or bracing for impact.
He has already signed over 54 executive orders in less than a month in office. The previous record was 42, and that was for the first 100 days in the White House.
The Geological Society of TT (GSTT) recently released the fourth episode of Energy Beginnings & Legends (EBL), its YouTube interview series reflecting on TT’s rich oil and gas history, as told by those who helped fashion it.
According to University of TT (UTT) research associate Dr Neal Alleyne, the first local independent oil and gas contractor Dr Krishna Persad, former state company senior manager Carol Telemaque and former energy minister turned international consultant Eric A Williams – geologists must prepare for certain uncertainties.
Job loss is a characteristic of the energy industry and oil is a globally traded commodity.
The boom-and-bust nature of oil and gas can be volatile and speculative, with a lasting impact on the international job market.
[caption id="attachment_1141197" align="alignnone" width="975"] A map highlighting Trinidad-Venezuela cross border gas fields. Map courtesy Petroleum Economist -[/caption]
In energy-dependent economies like TT, partnerships and joint ventures can have fickle foundations in shifting geopolitical landscapes.
The US levies economic penalties and restrictions against countries it deems harmful to its well-being.
Any nation that desires to remain in good standing as an economic trading partner with the US cannot defy these sanctions.
The US government has imposed varying degrees of sanctions against Venezuela for almost 20 years now in response to perceived criminal, corrupt and antidemocratic practices by its authorities. The outcomes of both the Venezuelan and US elections in 2024 were of titanic significance to TT and our gas future.
Minister of Energy Stuart Young spent years finessing the Dragon gas deal and the politics involved are often overlooked.
To even discuss an energy partnership with Venezuela, TT had to ask the US for an exemption from the sanctions imposed and justify its importance to the local economy, regional stability and US interests.
The Democratic-led US had previously temporarily eased sanctions on Venezuelan oil, gas and gold in exchange for the release of political prisoners and fair and free elections. Even then the US refused to acknowledge Nicolas Maduro as the legitimate president of Venezuela.
According to the current White House press secretary, Karoline Leavitt, the February release of six American detainees and Venezuela’s agreement to accept deportees is not an official acknowledgement of Maduro’s government.
Why would this matter to a geologist?
TT has continued to negotiate the Dragon gas deal with a Maduro-led Venezuela. Many nations challenged the election results and have taken a wait-and-see approach.
We cannot afford to do so, considering the decline in gas production and revenues, and
