Diversification! Oil prices falling!

[pugboy]

Could be a real wake up call if continues for next 6months.

Unfortunately, sweet t&t has not experienced a true hard times unlike the rest of the world.
We dont know the real meaning of tighten belt.

[Allergic2BunnyEars]

I find it funny men actually want to suffer.

[pugboy]

We truly spoilt in this country though,

Where in the world do you find a country with
25% or less taxation
Free school all the way to university
Free social programmes, cepep, urp
Cheap fuel, electricity, alcohol
Free health

[frazzyboy]

Yet we are considered a third world county

[pugboy]

We are, we behave like animals

[Allergic2BunnyEars]

Pugboy best you leave if you don't enjoy those things yes.

[jm3]

Yes we have some good stuff but tell me who can afford to buy a house in Trinidad these days?
what is the average salary now?
It's madness that homes are not accessible to even the middle class of people

[janfar]

No no... lets all live in the fantasy world. The government can borrow more money for we to enjoy.

[pugboy]

My parents been in business since late seventies,
Only people who have been in business in the early eighties can really relate to true hard times.

[Redman]

I find it funny men actually want to suffer.

It's not a or b.

We can contract without going into a apocalyptic scenario.

A recession isn't necessarily terrible.

[Allergic2BunnyEars]

I find it funny men actually want to suffer.

It's not a or b.

We can contract without going into a apocalyptic scenario.

A recession isn't necessarily terrible.

I agree but watch the posts above. Men be looking forward to an apocalypse just for the supposed lessons learnt.

[White CZ4A]

I find it funny men actually want to suffer.

It's not a or b.

We can contract without going into a apocalyptic scenario.

A recession isn't necessarily terrible.

I agree but watch the posts above. Men be looking forward to an apocalypse just for the supposed lessons learnt.

You're dissecting my post too much . Perhaps suffer was the wrong choice of word.
Basically what I am saying is that with all the money Trinidad has, we don't experience a better quality of life.
We still are and will continue to remain third world as long as the money is flowing.

I truly believe that a drop in oil prices would help us to stand stronger, re-evaluate ourselves, and hopefully this time, we don't let history repeat itself.
People think that making money is everything. What good is it if we have all the money in the world, but we live in a country where:
- your child gets bullied or stabbed at school.
-You have to be wary of every single place I am(regardless or day or night) for fear of being robbed and subsequently killed.
-to add to the points above. I know that the perpetrators wouldn't be caught or dealt with in either case.
-to add to it again..the ambulance and police would get there too long after to be of any use.
-simple social services such as getting a renewal of your passport is an issue and takes 4-6 weeks. In my own home country!
-you don't know if you could trust the police.
-for every one gun off the street, another 10 comes in. All the state of the art CG vessels mean squat, if the officers in charge turn a blind eye.
-the people that are doing the robbing ...most ARE employed. They just want more and more. Enough is never enough.


Long story short, we have a culture problem that I believe was caused by money. No one cares about each other. It's all about greed.
There are good people no doubt...but I have to think about us as a whole.

[Allergic2BunnyEars]

Ok. Fair enough but I don't think those issues will be tackled if we enter economic strife. Might make those things worse imo. I suspect economic strife will put more focus on money via diversification and cuts to social programs without tackling things like efficiency for the most part.

[Mudboy]

Oil soars over 10 percent, biggest gain in six years as shorts scramble
NEW YORK | BY BARANI KRISHNAN AND JONATHAN LEFF

An oil well pump jack is seen at an oil field supply yard near Denver, Colorado February 2, 2015. REUTERS/Rick Wilking
An oil well pump jack is seen at an oil field supply yard near Denver, Colorado February 2, 2015.
REUTERS/RICK WILKING



Oil rocketed more than 10 percent higher on Thursday, posting its biggest one-day rally in over six years as recovering equity markets and news of diminished crude supplies set off a short-covering scramble by bearish traders.

Snapping back from a deep two-month slump that knocked U.S. crude to 6-1/2 year lows below $40 this week, oil climbed as world stock markets rose on hopes Chinese government measures to stimulate the economy would pay off, while the dollar strengthened as risk aversion eased.

The rally was aided by news of a force majeure on Nigerian oil exports declared by Shell (RDSa.L) and private data indicating more drawdowns in crude this week at Cushing, Oklahoma, traders said. A big upward revision in second quarter U.S. economic growth helped.

Front month Brent crude LCOc1 for October more than reversed a week's worth of losses, rising $4.42 to settle at $47.56 a barrel, marking a 10.25 percent rise. Gains accelerated toward the close, locking in the biggest one-day jump since late 2008, when prices were bouncing back after the financial crisis. The contract traded on Monday at a March 2009 low of $42.23.

"Whenever you have a short-covering rally in a bear market they’re always violent. I wouldn't be surprised to see it continue another day or two," said Tariq Zahir, managing member at Tyche Capital Advisors in Laurel Hollow, New York. As buying pressure eases, prices may test new lows, he added.

That proved somewhat true in Thursday's post-settlement trade, when oil came off its highs, tracking a volatile U.S. stock market prior to Wall Street's close. Brent briefly gave back more than $1 from its settlement price before recouping all of it later.

U.S. crude CLc1 settled up $3.96, or 10.3 percent, at $42.56 per barrel, its biggest one-day percent gain since March 2009. It had hit a February 2009 low of $37.75 on Monday.

There were signs that Thursday's rally, while extreme, may not be long-lasting, traders said. Inter-month spreads, often a good indicator of physical market conditions, weakened on the day, while turnover was high but not extreme. Front-month Brent crude traded just over 315,000 lots, the most since early July but a quarter less than early February highs.

Even notionally bullish news came with a bearish context.

Shell declared force majeure on Bonny Light crude oil exports on Thursday following the shutdown of a 180,000 barrel per day (bpd) pipeline. But the disruption may have a limited impact on the market with some 10 million barrels of September-loading Bonny Light still unsold.

[jm3]

Just soared today I bought in at 43 last night banking on 50 today but it friggin dipped into my stop loss while I was asleep before it climbed so all now I would be up $750usd for the day instead I'm down 100

[Allergic2BunnyEars]

Awwwww

[DVSTT]

Well it gone back to $39

Cause - God iz ah Trini!

I love it. I want it to continue down. Trinidad needs to suffer a bit. Too much greed and corruption in this place.
We need a dose of reality urgently.

Real outa timing talk here man ....just because you don't depend on it. This low oil price sending alot of people out of jobs worldwide.

In one way or the other I do depend on it. High oil and gas prices means a higher budget. In turn more construction.
Without construction I have no income.
Out of timing? Doubtful. Just being real.

We'll feel it next election.

[src1983]

Ok. Fair enough but I don't think those issues will be tackled if we enter economic strife. Might make those things worse imo. I suspect economic strife will put more focus on money via diversification and cuts to social programs without tackling things like efficiency for the most part.

The economy runs in cycles, Peak > Recession > Depression > Recovery.

Trinidad has yet to enter the recession and the longer it takes the harder it will be. By artificially manipulating the cycle the government is increasing debt and giving false wealth to the people. This is bad for persons who do not know how the economy works and may end up shooting themselves in the foot when they future plan (House/car purchase etc)

A recession is not a bad thing its like a correction where the economy contracts and adjusts itself to the real position. If a person who has been prudent and wise with his finances he will not have to worry if a recession comes. A person with huge debt on the other hand will have to worry.

[Dizzy28]

In global news the oil prices have affected one of our more stable neighbours with Canada officially announcing they are in a recession.

http://www.thestar.com/business/2015/09 ... ition.html

[Miktay]

I find it funny men actually want to suffer.

It's not a or b.

We can contract without going into a apocalyptic scenario.

A recession isn't necessarily terrible.

I agree but watch the posts above. Men be looking forward to an apocalypse just for the supposed lessons learnt.

You're dissecting my post too much . Perhaps suffer was the wrong choice of word.
Basically what I am saying is that with all the money Trinidad has, we don't experience a better quality of life.
We still are and will continue to remain third world as long as the money is flowing.

I truly believe that a drop in oil prices would help us to stand stronger, re-evaluate ourselves, and hopefully this time, we don't let history repeat itself.
People think that making money is everything. What good is it if we have all the money in the world, but we live in a country where:
- your child gets bullied or stabbed at school.
-You have to be wary of every single place I am(regardless or day or night) for fear of being robbed and subsequently killed.
-to add to the points above. I know that the perpetrators wouldn't be caught or dealt with in either case.
-to add to it again..the ambulance and police would get there too long after to be of any use.
-simple social services such as getting a renewal of your passport is an issue and takes 4-6 weeks. In my own home country!
-you don't know if you could trust the police.
-for every one gun off the street, another 10 comes in. All the state of the art CG vessels mean squat, if the officers in charge turn a blind eye.
-the people that are doing the robbing ...most ARE employed. They just want more and more. Enough is never enough.


Long story short, we have a culture problem that I believe was caused by money. No one cares about each other. It's all about greed.
There are good people no doubt...but I have to think about us as a whole.

What is 'third world'?

[Miktay]

^ But what has the PP done to diversify the income stream over the past 5 years?

Sport tourism

Cycling swimming tennis Motorsport

Green economy model house CNG

Health tourism children's hospitals oncology centre

Plans for Marinas in Trinidad and Tobago

Aviation school

Nursing school

Doctor school

Agriculture

Ship docking and repair facility plans




Please come out from under that PNM rock u have been hiding

In the short term none of these things can replace the fossil fuel revenues that are the main GDP driver in T&T.

Maybe someday. But not today.

So were stuck with a fossil fuel economy for the foreseeable future. Whether we like it or not.

For better or worse.

[bluesclues]

I find it funny men actually want to suffer.

It's not a or b.

We can contract without going into a apocalyptic scenario.

A recession isn't necessarily terrible.

I agree but watch the posts above. Men be looking forward to an apocalypse just for the supposed lessons learnt.

You're dissecting my post too much . Perhaps suffer was the wrong choice of word.
Basically what I am saying is that with all the money Trinidad has, we don't experience a better quality of life.
We still are and will continue to remain third world as long as the money is flowing.

I truly believe that a drop in oil prices would help us to stand stronger, re-evaluate ourselves, and hopefully this time, we don't let history repeat itself.
People think that making money is everything. What good is it if we have all the money in the world, but we live in a country where:
- your child gets bullied or stabbed at school.
-You have to be wary of every single place I am(regardless or day or night) for fear of being robbed and subsequently killed.
-to add to the points above. I know that the perpetrators wouldn't be caught or dealt with in either case.
-to add to it again..the ambulance and police would get there too long after to be of any use.
-simple social services such as getting a renewal of your passport is an issue and takes 4-6 weeks. In my own home country!
-you don't know if you could trust the police.
-for every one gun off the street, another 10 comes in. All the state of the art CG vessels mean squat, if the officers in charge turn a blind eye.
-the people that are doing the robbing ...most ARE employed. They just want more and more. Enough is never enough.


Long story short, we have a culture problem that I believe was caused by money. No one cares about each other. It's all about greed.
There are good people no doubt...but I have to think about us as a whole.

What is 'third world'?

3rd planet away from the sun

[Val]

It is a needed wake-up call, I just hope that people actually heed it.
Way too dependent on oil money at the moment.

[shaneelal]

PTSC takes back pay loan
"$57 million has been borrowed from Republic Bank to settle outstanding payments to bus workers."

http://www.guardian.co.tt/news/2015-09- ... k-pay-loan


Republic Bank to lend T&TEC $1.8 billion
"* US$600 million will fund back pay to public servants, teachers and other Government workers."

http://news.co.tt/public_html/article.p ... 4153314364


Hope the gov't knows what they are doing.

[src1983]

The cost of funding Mega Projects on recurring income meant for recurring expenses.

Its like buying fancy clothes, then borrowing to buy Food.

[Trinispougla]

This country has no money. last week the treasury had borrow money from the central bank to give to public servants. We're in for a very rough year. Trinidad is experiencing the 'benefits' of free market capitalism. We are too small to influence the market and like Chile with it's minerals(e.g cooper), we will have to ride the wave until the price goes up. Saudi Arabia are not going to cut back on production. The can continue brinkmanship for a while because they have the world's two largest oil fields and they are exploiting them. Oil we can safely say will never go up above $100 dollars per barrel, Opec wants to settle at 80, but that would be some time from now. Fiscal prudence and diversification are essential now. Also, we don't know the effect of Iran on the market as yet. Saudi Arabia's stabilization fund is a virtually bottomless pit so they can survive relatively unscathed.

[jm3]

People really gotta do the right thing this election

[Val]

We just need to focus more on tourism, we have such unexplored potential with that. But trinis need to come off their high horses before we can be good hosts.

[White CZ4A]

We need a culture change. Only way that will happen is when we appreciate what we have and the only way that will happen is when it gets taken away from us. Greed is going to be the end of this country.

[Lance]

We need a culture change. Only way that will happen is when we appreciate what we have and the only way that will happen is when it gets taken away from us. Greed is going to be the end of this country.

You are right. I've realize that it is impossible for Trinidadians to understand these things ex-ante. We need to experience the consequences to know of the consequences.