Oil on decline

THE EDITOR: Who are we to blame for the demise of Petrotrin? The two M's, Patrick & Jones? I will not go down to that level.

We need to accept that oil is a dying industry. Our future is not good no matter how we look at it. The rise of renewable energy will rapidly make oil obsolete.

As oil gets more expensive there is more incentive to use alternative,cheaper forms of energy. We in TT must prepare for a world after fossil fuels.

Higher prices for oil and gas will drive investment in efficiency and demand reduction and also substitution so they may actually promote "Structural Demand Destruction."

You may want to read that again.

The global oil industry is in denial and holding on for dear life to a number of fatal delusions. We in TT believe oil price decline is transitory and oil consumption will grow despite present economic stagnation. We believe that oil will never be displaced.

We are only prolonging the fossil fuel agony in TT. Oil simply cannot compete with new energy technologies be you PNM or UNC.

AV RAMPERSAD, PRINCES TOWN