Bharrat Jagdeo
It is the view of Opposition Leader, Bharrat Jagdeo, that news of an 86 percent economic growth for Guyana after the first year of oil production is not painting the whole picture for the Guyanese public.
During a press conference at his Church Street office on November 7, Jagdeo said, “I’ve seen another set of so-called positive news which says the gross domestic product (GDP) of Guyana will increase by 86 percent next year and within, say five years, we can triple the size of our economy… That sounds really good… [But] does it mean it’s all great news for Guyana?” Continue reading
Guyana is on the cusp of moving from its Third World status – by Adam Harris
The fastest development in the history of the oil sector anywhere will take place in Guyana. From the accidental discovery of Guyana’s oil resource to first oil has taken a mere five years.
Generally, it would take years. But Guyana’s oil is not like some others. It is ‘sweet’ and would therefore not need
much refining. It is also light making it among the priciest on the world market. That is why so many companies are rushing here.
Last week I spoke of how Exxon came to find oil. By a whisker that exploration company found oil and avoided leaving Guyana with knowledge that it had oil. A simple decision to drill a second well instead of the first gave Guyana the leg to move from a Third World country. Continue reading →
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