OIL: Will Guyana soon be the richest country in the world? – BBC News

Oil industry workers installing equipment in Guyana
Huge oil reserves in Guyana could change the future of the nation

South America’s second poorest nation is bracing for an oil boom that could catapult it to the top of the continent’s rich list – and beyond. But can Guyana avoid the so-called oil curse and ensure that its newfound riches benefit all Guyanese?

“Many people still do not get how big this is,” then-US Ambassador to Guyana Perry Holloway told a reception in the capital, Georgetown, last November.

“Come 2020, GDP will go up by 300% to 1,000%. This is gigantic. You will be the richest country in the hemisphere and potentially the richest country in the world.”

READ MORE

Post a comment or leave a trackback: Trackback URL.

Comments

  • michael hawkins  On May 9, 2019 at 4:18 am

    That is very good news about my Home land. But please do not think for one moment you are free to do with your oil as you see fit. Big brother will be watching you

    guyaneseonline posted: “By Simon Maybin Assignment, BBC World Service Huge oil reserves in Guyana could change the future of the nation South America’s second poorest nation is bracing for an oil boom that could catapult it to the top of the continent’s rich list – and beyo”

  • wally n  On May 9, 2019 at 10:08 am

    By proportion, quite easy for that to become a reality. There is enough wealth for big brother to take [steal] his larger share and still leave enough for the country to become one of the richest in the world.
    Downside? Guyana will be coerced, led, forced to take the half dead Caribbean in their knapsack, all the while that ungrateful bunch will be stabbing the hell out of the country’s back.
    If the Government just concentrates on the country, do what is necessary and important, first, and what ever crumbs fall off the table, let the Caribbean enjoy, as they did to GUYANA for so many years.
    Piece of cake Guyana

  • Clyde Duncan  On May 9, 2019 at 3:26 pm

    Hi Clyde
    My opinion is that the government in power during the production will be the richest members of parliament in the world and like Nigeria etc., the poor will be fighting for their next meal unless they take matters into their own hands and vote for the best representative and not on racial bias which is what is emerging in the current politics.

    Sad, that the citizens cannot see pass one’s colour when making such an important decision.

    Kennedy

  • wally n  On May 9, 2019 at 5:32 pm

    I believe the problem might be “best representative” if such exists anywhere in the world. The request should be for plans/changes that benefit everyone. Better Hospitals, Better Medical Services, better Infrastructure, Roads, Government Offices, long list exists, the people should set the priorities.
    If Guyanese still want to play “color politics” then they will continue to suffer the consequences. The old saying, you can be taken to the water but…….

  • Trevor  On May 10, 2019 at 9:00 pm

    “Come 2020, GDP will go up by 300% to 1,000%. This is gigantic. You will be the richest country in the hemisphere and potentially the richest country in the world.”

    This Yankee talking from his rectum! ExxonMobil plans to begin 100,000 barrels of oil daily next year. This will only translate into a 50% increase in GDP.

    Qatar is also the richest country in the world with a GDP per capita of US$115,000.

    https://tradingeconomics.com/country-list/gdp-per-capita-ppp

    1,000% increase in GDP per capita would be from US$4,000 to US$40,000. How could Guyana surpass Trinidad GDP per capita in one year of oil production?

    This would mean that Guyana will have to export 1.5 million barrels of oil daily via ExxonMobil at current Brent oil prices. Do you think the Arabs will be happy of the oversupply of oil?

    AmeriKKKa also bombs up countries, destroys their economies through sanctions and other international war crimes.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: