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American energy economist Francisco Monaldi believes that the US Government’s latest moves which revoked the licences to explore and develop the gas fields within Venezuelan borders is a “major blow” for T&T’s energy sector.
Monaldi lectures in energy economics at Rice University in the United States and is often quoted in the international media and oil and gas journals where he shares his views on the international energy industry.
“It is a bad day and bad news for the T&T’s gas industry. I was surprised by the revocation of the licences because I assume that in the short term, it did not provide any revenue to the Venezuelan regime and e fact that it was a very important agreement for T&T. Also, I assumed they would not revoke the licences right now and wait until they expired and would also wait within the next year to decide. This shows that the US Secretary of State Marco Rubio’s drive towards maximum pressure left nothing standing,” he told the Business Guardian.
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