Columns

CRUDE [UN]REFINERY

Sunday, August 12, 2018

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With the speed of an oil slick talk about Petrojam remains on the track of topical discussions. Sticking to The Agenda this week, former group managing director of the Petroleum Corporation of Jamaica between 1979 and 1989 Bill Saunders says the structure put in place when he served as the first managing director of Petrojam had built-in checks and balances that would safeguard against a decline into scandal. He suggests that the tinkering with the model in the 1990s opened the doors to the present state of affairs. Saunders says the situation has so stymied the State oil refinery that the world economy has grown so far beyond the Government intervention model that privatisation may well be the only solution.

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