By Ivelaw Lloyd Griffith – OilNOW
In the first of this two-part series on Guyana’s current flood travails, I offer an analysis of the country’s geography and environmental circumstances against the backdrop of the country as a petro state. The second article will explore the impacts of the flooding, explore strategies for current and future governments to leverage oil revenues, aid recovery efforts, and mitigate future disasters.
Oil Blessings
Mother Nature has been blessing Guyana effusively in recent years, with 19 offshore oil finds between May 2015 and April of this year by a three-member consortium of ExxonMobil, Hess Corporation, and China’s National Offshore Oil Corporation. Continue reading
The David Granger administration, is talking with the Government of The Netherlands, which has signaled intentions to play a key role through the provision of consultancy services.
Guyana: Climate Change impacts could cost oil rich Guyana US$800M – Gov’t Report
— Govt. Report says over 300,000 citizens could be harmed
By Kiana Wilburg – Nov 25, 2021 – Kaieteur News – Since the 1960s, increases in temperature, sea level and extreme rainfall have exposed just how vulnerable Guyana is to climate change. This frightening global phenomenon has resulted in more than US$600M in losses. That figure could however see an alarming spike as two government reports predict that more climate woes of potentially catastrophic proportions lie ahead for the world’s latest oil exploration hotspot.
Some of the homes that were almost submerged during the May-June 2021 flooding.
According to the 2015 Climate Resilience Strategy and Action Plan for Guyana, climate change will no doubt alter the characteristics of hazards Guyana is exposed to (e.g. average annual rainfall) and the nature of variability (e.g. more intense storms, irregular seasonal rainfall), which will hamper the nation’s socio-economic development objectives. Continue reading →
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