Property Matters – the PETROTRIN case

Property Matters – the PETROTRIN case

The impending closure of Petrotrin has virtually captured the major part of our national debate in a swift and serious way. Many commentators seem to have taken strong stances in which their loyalties are displayed and there is a distinct lack of the basic facts.

petrotrin-refinery
Petrotrin refinery at Point-a-Pierre

This is no essay on the oil & gas aspects of the Petrotrin closure as those are areas outside my understanding. In this article, I will examine three of the most serious governance issues now emerging as this seemingly-unstoppable process rolls onward.

The issues I will be delving into are:

  1. the information asymmetry on display here;
  2. the enhanced offer to workers and finally,
  3. the issues arising in relation to Petrotrin’s huge land-holdings.

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