Arnold McIntyre, Ahmed El-Ashram, Marcio Ronci, Julien Reynaud, Ms. Natasha X Che, Ke Wang, Mr. Sebastian Acevedo Mejia, and Mr. Mark Scott Lutz
High energy costs contribute to dampening Caribbean competitiveness and potential growth.
This paper overviews power sector challenges and takes stock of national and regional
strategies to address them. It presents recommendations to move the energy agenda forward
based on analyses of macro-aspects of energy reform. These include: i) quantitative
assessment of the impact of energy costs on growth and competitiveness; ii) evaluation of
gains from implementing announced renewable energy and energy efficiency targets; and
iii) analysis of the impact of energy investments on debt sustainability. The paper argues for
a bigger role for the private sector in energy reform and discusses prerequisites for good
This Selected Issues paper and Statistical Appendix reviews developments in the energy sector of the Republic of Trinidad and Tobago during 1997–99, and assesses the outlook for energy-related industries. The paper highlights that in 1998, the decline of mature fields was exacerbated by the low price of oil experienced during the year, which made exploitation of some fields uneconomic. The paper examines the fiscal sustainability of energy resources. It also analyzes trade liberalization that has been an integral part of Trinidad and Tobago’s efforts to restructure its economy for sustained growth.