Every Man, Woman and Child in Guyana Must Become Oil-Minded – Column 147 Last week’s part 1 of this mini-series dealt mainly with the court case and subsequent renegotiation of the Churchill Falls Hydro project in the Canadian province of Newfoundland and Labrador. In that case, the Canadian Supreme Court rejected an application for an…
Guyana has struck oil but for the panelists at a discussion on Wednesday there is no reason to celebrate. In fact one panelist argued that there are actually grounds for saying that government acted illegally in signing to such terms. On Wednesday, the Moray House Trust held a panel discussion where economists Collin Constantine and…
All files available at: https://www.gyeiti.org/news/gyeiti-report-fy2020-final
Here is an idea that should be given top priority. Guyana needs to build up an entrepreneurial class. Guyana needs to develop a class of Guyana’s Product Brands. (Currently Guyana has only one such brand -15-year-old rum. Europe and North America cannot get enough of Guyana’s rum). Guyana needs a dozen new export products not…
Is it in Guyana’s best interests to take ‘associated gas’ to generate electricity, as so enthusiastically advocated by Mr Bynoe and Dr Mangal? Quite simply, no. The IMF, the World Bank, the IADB, the European Investment Bank, leading economists (e.g. former World Bank Chief Economists Lord Stern and Joseph Stiglitz,), the Institute for Energy Economics…
I am responding herewith to Mr. Bhagwandin’s letter to the Editor of Stabroek News published October 8, 2022, and entitled `The overall objective of the PSA is to obtain a higher profit share after fully recouping investment costs’. First, I fully agree with other online commentators that there was no need for Mr. Bhagwandin to…
The notion of the STATE sharing the production of oil and gas with companies as part of a commercial enterprise was first developed in Bolivia in the 1950s. Today it is widely used in over 40 countries, so the Government of Guyana cannot claim that the unavailability of international experts to advise it was the…
Parliament’s decision to create—what amounts to—a zero tax clause in the petroleum production agreement keeps power and wealth in the hands of its foreign counterparties and contributes to Guyana’s economic inequality. Additionally, it stagnates the potential for sustainable economic growth here in the local land. While the Stabroek Block Production Sharing Agreement (PSA) should be…
