Diversification! Oil prices falling!

[bluesclues]

The problem with our work ethics is that there is no repercussions for poor workmanship.

They need to setup a system which supports and promotes hard diligent workers and removes the poor ethics.

We all go meet that one screw up pan sufferer in the government offices ever so often. The ones who think they're untouchable. Even if we complain it falls on deaf ears. From time a person enters the country on business, the immigration officers sitting in the corner room and only 2 outside, the girls in duty free chatting about the Kardashians, the bags late cuz them fellas in the back talking bout the big bamsee gyul who wukkin rituals, the custom officers look like they have been working for 48hrs and the piece of paper you just handed them weighs a ton.

there is always repurcussions. its just that employees can dance around finality indefinitely whilst still finding a way to not give you what you want. thats exactly what i said is like a dog chasing its tail. setting up repurcussions only fuels the war. few employees you can threaten with firing etc and they will shape up because they cant get another wukk. but if u see no response from an employee after all the chettenin, then that employee resolved to go to war with you. you already lose. you either have to pay them a money to get them to leave, or pay them a money to get them to stay. youd have to be seriously falling short in your consideration of your employees for them to reach that level tho. the last job i worked in was like that. in 3 departments every man jack was shafting the boss. taking whole day to do one job that could be done in 1hr and thing. all because of the boss' inconsiderate nature and then trying to use forcible policies to get ppl to fall back in line. all that happened as a result was that the most skilled and talented employees, leave for better or more accomodating opportunities. and all he does remain with are the dregs who cant find work anywhere else, lazy and slow.

thats why i said you have to make people want to improve their productivity for themselves. a human is not something u can just build a box around and think it safely trapped. it does climb out.

the statement on supporting and promoting hard/smart and diligent workers is your best suggestion here. it is easy in a structure devised for this purpose to include incentive schemes that motivate workers to output more by the end of each day. also, they have to know how their output is measured so that they can target themselves.

[EmilioA]

It seems to me from the brief time I spent in the working world that the poor work ethic is institutionalized.

To try and change it now only results in the unions digging in and claiming victimization and that they will not be treated the same way that "private" enterprise treats its workers.

On the other side private enterprise treats they workers , especially manual workers, like dogs.

A solution to better work ethic ? Do like Norway and lock up all the oil and gas revenue in a fund that the Govt cannot touch. It will force the rest of the economy to grow and there will be less money to thief.

[The_Honourable]

The Cocoa Plantations, a once relied upon industry to stimulate the economy, seems to be depleting slowly. This, according to Parliamentary Secretary for the Ministry of Agriculture, Land and Fisheries, Mr. Avinash Singh. He says the industry must be revamped as it has the potential to be one of the drivers to diversify the economy. Mr. Singh spoke at the launch of a Cocoa and Chocolate Exhibition at the UWI St. Augustine Campus on World Cocoa and Chocolate Day 2015 on Thursday. Mahalia Joseph has more in this report.

[silent_riot]

How many times do we hear the same things, but they never materialise?
Oh, that's right, people actually believe politicians.

[nervewrecker]

How many times do we hear the same things, but they never materialise?
Oh, that's right, people actually believe politicians.

Politicians don't lie!
The easter bunny and tooth fairy are all real mister. Take your time!

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[Allergic2BunnyEars]

It's not necessarily that they lie but I do think they make certain things sound too easy.

Diversification is NOT as simple as some say it is. If you look at other nations with oil and gas in many cases they suffer the same curse. Rent seeking off the natural resource. Easy money so to speak. People set up businesses to support the markets created from the natural resource and other sectors like manufacturing get left by the wayside. Then when resource prices fluctuate (inevitably) the other sources of income just not as developed or competitive on short notice.

Everyone looking to the government for diversification but what has the private sector done? Private sector plays it safe as well. It's natural.

[Lance]

It's not necessarily that they lie but I do think they make certain things sound too easy.

Diversification is NOT as simple as some say it is. If you look at other nations with oil and gas in many cases they suffer the same curse. Rent seeking off the natural resource. Easy money so to speak. People set up businesses to support the markets created from the natural resource and other sectors like manufacturing get left by the wayside. Then when resource prices fluctuate (inevitably) the other sources of income just not as developed or competitive on short notice.

Everyone looking to the government for diversification but what has the private sector done? Private sector plays it safe as well. It's natural.

This is a complex issue.

The private sector will divert investment into the areas which they see as having the highest return. Sustainable, efficient, ethical or otherwise.

The rent seeking you speak off is not the mainstream definition that equates it to profit seeking (which assumes some efficient allocation of factor inputs).

The rent seeking in oil producing economies is basically a commitment of resources to facilitate the artificial transfer of rents. This has huge social costs and is one of the main reasons why oil producing nations have such dismal economic development.

However, it is usually the weak institutional framework and poor policy commitment within these underdeveloped countries that facilitate such rent seeking behavior

[Allergic2BunnyEars]

It's not necessarily that they lie but I do think they make certain things sound too easy.

Diversification is NOT as simple as some say it is. If you look at other nations with oil and gas in many cases they suffer the same curse. Rent seeking off the natural resource. Easy money so to speak. People set up businesses to support the markets created from the natural resource and other sectors like manufacturing get left by the wayside. Then when resource prices fluctuate (inevitably) the other sources of income just not as developed or competitive on short notice.

Everyone looking to the government for diversification but what has the private sector done? Private sector plays it safe as well. It's natural.

This is a complex issue.

The private sector will divert investment into the areas which they see as having the highest return. Sustainable, efficient, ethical or otherwise.

The rent seeking you speak off is not the mainstream definition that equates it to profit seeking (which assumes some efficient allocation of factor inputs).

The rent seeking in oil producing economies is basically a commitment of resources to facilitate the artificial transfer of rents. This has huge social costs and is one of the main reasons why oil producing nations have such dismal economic development.

However, it is usually the weak institutional framework and poor policy commitment within these underdeveloped countries that facilitate such rent seeking behavior

My post wasn't clear enough I guess but I meant that definition in both senses. Either way it isn't beneficial in the long term.

[Numb3r4]

It seems to me from the brief time I spent in the working world that the poor work ethic is institutionalized.

To try and change it now only results in the unions digging in and claiming victimization and that they will not be treated the same way that "private" enterprise treats its workers.

On the other side private enterprise treats they workers , especially manual workers, like dogs.

A solution to better work ethic ? Do like Norway and lock up all the oil and gas revenue in a fund that the Govt cannot touch. It will force the rest of the economy to grow and there will be less money to thief.

Agreed...but Norway is an incredibly educated country where many people live within their means and are generally quite productive.

[daas]

Meanwhile in Tobago...hotels suffering from water shortages. Tourists doing the standpipe jig smh

[bluesclues]

Meanwhile in Tobago...hotels suffering from water shortages. Tourists doing the standpipe jig smh

that should make them feel like a true trini. we hadda learn how to sell we culture how france learn to sell toejam as expensive wine.

[jm3]

Meanwhile in Tobago...hotels suffering from water shortages. Tourists doing the standpipe jig smh

that should make them feel like a true trini. we hadda learn how to sell we culture how france learn to sell toejam as expensive wine.

Lol

[Numb3r4]

^^ Still...things were like that since August.

[zoom rader]

Now is the time to invest in oil.
Companies like, Trini oil, Range resources and LGO are at the lowest share price. Virtually costing pennies
Only a matter of time before oil climbs to $80 and share prices raises.

[Redman]

buy NBR.

[zoom rader]

Meanwhile Trini Oil has just sold assets and paid off its debt with cash in the bank.

I told ppl to buy in at 3pence months ago and today it's up to agv 10 pence. 3 X investment and set to raise to 20 p by year end. London stock market AIM busy with Trini oil and the oil forums. Well done to those that hold shares in Trini Oil. Next will be Range Resources Ltd.

See below.


Loan Update
Wed, 21st Oct 2015 07:00
RNS Number : 8943C
Trinity Exploration & Production
21 October 2015
 
Trinity Exploration & Production Plc

(the "Company" or "Trinity"; AIM:TRIN)

 

Loan Update

 

 

21st Oober 2015

 

Trinity, an independent E&P company focused on Trinidad and Tobago, today announces that the Company has agreed a further extension to the moratorium on principal repayments, relating to Trinity's outstanding debt balance of US$13.0 million with its lender, until the 23rd of October 2015. Discussions are ongoing with the lender for a further extension of its credit facilities and management expect for there to be continued support, particularly following the announcement of the sale of substantially all of Trinity's onshore assets for US$20.8 million.    

 

Recent progress evidences the value of Trinity's portfolio through the strategic review and FSP and as part of this Trinity retains a regular dialogue with its lender and creditors.

 

 

 

 

[Numb3r4]

Meanwhile in Tobago...hotels suffering from water shortages. Tourists doing the standpipe jig smh

Right now the water shortage is the least of their problems.

[Numb3r4]

What about tourism in Tobago?

[zoom rader]

Bajans coming for their Oil in trin

Bajan Hydrocarbons is evaluating the acquisition of mature producing assets, lying in near shore waters offshore Trinidad, with a combined OOIP in excess of 500MMbbls and high netback barrels. The assets have been producing for a number of years and the current Operator considers that with a combination of infill drilling, workovers and EOR programmes (steam flood and CO2 injection) the reservoirs should be able to deliver additional production, substantially extending field life.

To assist with its entry into Trinidad & Tobago, Bajan Hydrocarbons has signed an agreement with a local technical partner that has considerable experience of operating low-cost drilling & production and of implementing EOR schemes, in particular CO2 injection programmes

www.bajanhydrocarbons.com/

[bluesclues]

awaits news of tobago reefs destroyed by oil spill.

[zoom rader]

Looks like PNM conspiring with Bajan oil to come in trini. ATM open for Bajan oil to enjoy trin tax concessions

[metalgear2095]

Investt yet to get a new board. Pnm doesn't really care about diversification

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[Dizzy28]

Investt yet to get a new board. Pnm doesn't really care about diversification

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I think it's that they don't care about InvesTT

[zoom rader]

Investt yet to get a new board. Pnm doesn't really care about diversification

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I think it's that they don't care about InvesTT

You have to be careful with this government as certain groups wants a monopoly over the available investments. The last government allowed everyone to participate in investments now its just a certain group.

[EmilioA]

Investt yet to get a new board. Pnm doesn't really care about diversification

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I think it's that they don't care about InvesTT

You have to be careful with this government as certain groups wants a monopoly over the available investments. The last government allowed everyone to participate in investments now its just a certain group.

Like the valuable box drain investment.

[EFFECTIC DESIGNS]

Like the valuable box drain investment.

Soon as PNM win the contractor who was building the box drain next to my land here in Piarco simply pack up shop and buss out. So we have a whole long drain completed and an area dig like a small pound with water settle and not going anywhere just collecting up like a pound.

The people in the area reported this to Tunapuna/Piarco corporation but I keep quiet because I does use it to water my crops like cucumbers etc

But I would like to know since contractor get he money to fix this drain isn't he obligated to finish the project? be it UNC or PNM its still tax payers money he pocket?

[zoom rader]

OK this is real deal with oil prices.

The Saudis have failed to curtail the ever expanding Shale explorers and producers. They thought that they could squeeze them of out business.
But the US has the two largest Shale production in the world. One being Eagle Ford in Texas and the other is dubbed the Oiliest place in the world which is Alaska.
Alaska was kept secret for over 60 years and now it massive in Shale oil.
The Saudis have failed cause the big oil companies not affected when it comes to exploring. The big companies just wait till small time explorers prove up shale and conventional fields and then they buy them out.
Explorers are not producers and they are not affected by any oil price, this is where Saudis failed big time. Explorers normally get funding via the stock market in penny shares, where big money is being made one day your at 1cent a share and when a field is proven it's $1 a share.
The Saudis have helped shale producers find very cost saving ways of extracting unconventional oil. Saudis trying a last ditch effort to dry up shale but it's backing firing fast and Saudis taking a huge loss that cannot be sustained. I believe this is the last try before they have no choice to cut production.
In short the US is not affected.

If this government smart they would grant more explorers licences to prove up new fields. Even Guyana now has 2Billion in reservations. Barbados has now began exploring . Trin is been left in the dark it's only a matter of time before the crowds flock to Guyana and Barbados.

Oil will be back up soon. Let's hope this Govt does not squander it like they did in the past

[Numb3r4]

Don't forget the Bakken shale.

Still though it doesn't mean thst we must neglect our production technology. You mentioned that producers have found ways of exploring amd drilling cheaper this is true, however they should take the time to invest in cheaper long term production technologies and strategies for maintaining the reservoir.

We in Trinidad not only have to explore and drill more but also use better more progressive methods when it comes to production.

[zoom rader]

Don't forget the Bakken shale.

Still though it doesn't mean thst we must neglect our production technology. You mentioned that producers have found ways of exploring amd drilling cheaper this is true, however they should take the time to invest in cheaper long term production technologies and strategies for maintaining the reservoir.

We in Trinidad not only have to explore and drill more but also use better more progressive methods when it comes to production.

I welcome any move by this government to allow more small scale explores tobe granted licences to prove fields. Small scale explorers tend to operate on limited funds and they make every penny count and are quicker to find oil. Big companies have the funds but are lazy to find oil and they normally waste money taking forever to prove-up a fields.

[nervewrecker]

Last I heard range resources bought 19 new rigs.


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