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Caribbean climate insurance 2026: CCRIF SPC, parametric scaling, and the sovereign innovation frontier
Hurricane Beryl triggered the largest single payout in the history of the Caribbean Catastrophe Risk Insurance Facility, USD 87.6 million across four members in July 2024. The region now sits at the leading edge of sovereign climate finance: parametric covers, climate resilient debt clauses, resilience bonds, and the Loss and Damage Fund are converging into a working architecture that creditors, donors, and insurers will copy across small island states.
Caribbean sovereigns face a structural insurance gap. Insurance penetration averages roughly 1.5 percent of GDP against 6 percent in advanced economies, tourism contributes about a third of regional GDP at USD 41 billion in 2024 receipts, and the 2024 Atlantic season delivered Hurricane Beryl, the earliest Category 5 on record, with regio...
Trinidad and Venezuela 2026: the Dragon license, Atlantic LNG idle trains, and Caribbean gas arbitrage
Atlantic LNG runs at 9.0 mtpa against 14.8 mtpa nameplate, Train 1 has been idle since end 2020, and the four cross border fields with Venezuela are the only unsanctioned upside. The Dragon, Cocuina, and Manakin Cocuina licenses, OFAC General License 41 and 41A, and the disputed July 2024 Maduro reelection together set the gas balance for the eastern Caribbean through 2028.
Trinidad and Tobago's gas economy is contracting in slow motion. Marketed gas production peaked near 4.0 billion cubic feet per day in 2010 and ran at 2.55 Bcf/d in 2024, a 36 percent drawdown that has stranded one of the four Atlantic LNG trains since end 2020 and capped national LNG output at 9.0 million tonnes per annum against a 14.8 ...