AFTER nine years in power, it is incredible to see Minister of Energy Stuart Young attributing the National Gas Company’s (NGC) $1.3 billion loss in 2023 to decisions made by the United National Congress (UNC) in 2013.
This claim is absurd and a blatant attempt to deflect accountability for the PNM government’s mismanagement of this state enterprise.
Suggesting that a loss in 2023 is rooted in decisions made a decade ago is completely and utter rubbish. Suppose the decisions of 2013 are still impacting the company in such a catastrophic way. In that case, the PNM administration must also answer why these alleged issues were not addressed, corrected, or mitigated during their nine years in office.
If the PNM is going to blame the UNC for the NGC’s financial performance, they must also explain how the company’s profitability during 2016, 2017, 2018, 2019, 2021, and 2022 was not similarly affected and that profitability should be accredited to the UNC.
The singling out of 2023 and casting blame on the UNC is not only hypocritical but undermines any rationale of governance under the PNM.
The truth is, that the PNM has had complete control of the Ministry of Energy, the NGC, and its operations since 2015. Minister Young and his appointed board have had the power and opportunity to restructure, reorganise, and develop policies to guide the company to profitability for nine years. If there were any consequences of the 2013 decisions, then the PNM should have addressed them long before now. Moreover, the NGC’s profits during the years mentioned are clear evidence that the company has been able to be profitable regardless of any alleged challenges from the UNC era. So why, then, has it suddenly come up now? Are elections in the air?
The loss in 2023 must be examined thoroughly. Was it poor investment decisions, failures in risk management, or a lack of proper planning? Is the loss a result of global economic conditions, or bad management of internal inefficiencies that were ignored under the current administration? These are the questions that citizens must ask not political finger-pointing.
The narrative that the UNC is to blame for every misstep of this government has grown tired and flimsy. It is not the opposition’s role to manage the affairs of the NGC; that responsibility lies on the chest of the Minister of Energy and the PNM-appointed board. The PNM cannot pull the wool over your eyes and when to claim credit for success and when to blame the UNC for their obvious failures.
Governance of a country and governance of the energy sector is not a game of “all fours” where you get to choose which or what failures are due to your opposition. To date, this government deflection of their failures has become tiresome to hear. They need to accept that they are the failures in this country and under their Government we are here. All of which is because this Government has failed to do their job in nine years.
Facts will always be more powerful than fiction. The facts show that Minister Young has been responsible for the lowest oil production in 50 years. The facts show that Minister Young has been responsible for the lowest gas production in over a decade. The facts show that this government has been responsible for the most plant closures in our history.
With a track record that has shown failure after failure, crisis after crisis, closure in the energy sector from the travesty of Petrotrin, numerous failed bid rounds to the collapse of Niquan, no right-thinking citizen can accept that the NGC’s failings are due to the UNC. It is simply yet another blunder of this government.
Still Blaming UNC, Now for NGC Losses
AFTER nine years in power, it is incredible to see Minister of Energy Stuart Young attributing the National Gas Company’s (NGC) $1.3 billion loss in 2023 to decisions made by the United National Congress (UNC) in 2013.
This claim is absurd and a blatant attempt to deflect accountability for the PNM government’s mismanagement of this state enterprise.
Suggesting that a loss in 2023 is rooted in decisions made a decade ago is completely and utter rubbish. Suppose the decisions of 2013 are still impacting the company in such a catastrophic way. In that case, the PNM administration must also answer why these alleged issues were not addressed, corrected, or mitigated during their nine years in office.
If the PNM is going to blame the UNC for the NGC’s financial performance, they must also explain how the company’s profitability during 2016, 2017, 2018, 2019, 2021, and 2022 was not similarly affected and that profitability should be accredited to the UNC.
The singling out of 2023 and casting blame on the UNC is not only hypocritical but undermines any rationale of governance under the PNM.
The truth is, that the PNM has had complete control of the Ministry of Energy, the NGC, and its operations since 2015. Minister Young and his appointed board have had the power and opportunity to restructure, reorganise, and develop policies to guide the company to profitability for nine years. If there were any consequences of the 2013 decisions, then the PNM should have addressed them long before now. Moreover, the NGC’s profits during the years mentioned are clear evidence that the company has been able to be profitable regardless of any alleged challenges from the UNC era. So why, then, has it suddenly come up now? Are elections in the air?
The loss in 2023 must be examined thoroughly. Was it poor investment decisions, failures in risk management, or a lack of proper planning? Is the loss a result of global economic conditions, or bad management of internal inefficiencies that were ignored under the current administration? These are the questions that citizens must ask not political finger-pointing.
The narrative that the UNC is to blame for every misstep of this government has grown tired and flimsy. It is not the opposition’s role to manage the affairs of the NGC; that responsibility lies on the chest of the Minister of Energy and the PNM-appointed board. The PNM cannot pull the wool over your eyes and when to claim credit for success and when to blame the UNC for their obvious failures.
Governance of a country and governance of the energy sector is not a game of “all fours” where you get to choose which or what failures are due to your opposition. To date, this government deflection of their failures has become tiresome to hear. They need to accept that they are the failures in this country and under their Government we are here. All of which is because this Government has failed to do their job in nine years.
Facts will always be more powerful than fiction. The facts show that Minister Young has been responsible for the lowest oil production in 50 years. The facts show that Minister Young has been responsible for the lowest gas production in over a decade. The facts show that this government has been responsible for the most plant closures in our history.
With a track record that has shown failure after failure, crisis after crisis, closure in the energy sector from the travesty of Petrotrin, numerous failed bid rounds to the collapse of Niquan, no right-thinking citizen can accept that the NGC’s failings are due to the UNC. It is simply yet another blunder of this government.