The Alliance for Change (AFC) has noted the ongoing challenges being experienced in our neighboring island of Tobago due to the devastating effects of an oil spill. Media reports indicate that the source of the oil spill is a capsized barge reportedly heading for Guyana.
Despite the fact Trinidad and Tobago has been an oil producing country for over a century and having had to deal with several major oil spills in the past, the country is still struggling to contain this recent oil spill. This unfortunate event should be an additional wake up call for Guyana.
Currently, Guyana is producing three times the daily volume of oil against that of our sister country at its peak, thus resulting in an increased risk, it is time that Guyana puts in place a comprehensive oil spill plan backed by provision of adequate resources and equipment, as well as ensure that the operators in all our oil blocks have in place full and unlimited liability coverage.
The Tobago oil spill has now spread to neighboring countries of Grenada and Venezuela. Having in place unlimited liability coverage, not only covers the costs associated with the immediate oil cleanup efforts, but will also include the short, medium, and long costs associated with the damage to these countries tourism and fishing sectors.
The AFC will be monitoring the effects of this oil spill, including the final cleanup costs, and other associated claims.
This will be a suitable comparison for the adequacy of the current US$2B, claimed to be in place – noting that this event, only represents an oil spill of less than 30 thousand barrels!
