Why the smelter makes no sense Letter of the Day Monday, August 24th 2009 Trinidad Express Newspaper Do those entrusted to steer an even path in our development have the capacity to make sound judgements?
If someone was the beneficiary of an unearned fortune, would it be wise to put it in the hands of someone who knows nothing of finance or who has had no experience in earning an income or even working in a parlour? Some of us may recall the lavish expenditure with borrowed money in the 70s which led to the IMF intervention. When we borrow money on speculative future earnings we are repeating our history. The public should be aware that the Budget does not finance all these mega projects and we are in hock for years to come. The smelter plant is one project that will be the downfall of our nation. Firstly there are smelter plants closures all over the world. In Suriname where there is bauxite and hydro power in abundance, the plant was closed after five years of operation because it was uneconomical. In China, Iceland and several countries with massive land space plants have closed. In Jamaica two of the five bauxite mines have been shut down. Smelter plants require an abundance of wate
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