Tag Archives: petroleum

GUYANA: The Trinidad Connection and Guyana’s Local Content Act – by Ralph Ramkarran

 April 2, 2022- The Trinidad Connection

A robust debate has been triggered by Guyana’s Local Content Act (the Act) between Guyanese and Trinidad and Tobago business organisations, businesspeople and involving some Guyanese public officials. The debate has had little input from ordinary Guyanese citizens. For example, there has been few, if any, letters in the press from Guyanese expressing outrage against Trinidadians for any reason.

However, while the debate is limited to Trinidad’s business practices, trade policies and importance to Guyana as a Caricom member, there is a strong undercurrent in Guyana of resentment against what is believed to be Trinidad’s historically unflattering view of Guyanese due, it has always been believed, to Trinidad’s sense of its own superiority by virtue of its oil wealth as against Guyana’s relative poverty.            

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GUYANA: The Bright Century Beckons: But What’s In It For Me, And When? – By Ralph Ramkarran

– By Ralph Ramkarran – February 19, 2022 Conversation Tree Blog

The spectacular possibilities that await Guyana were revealed at the recently concluded Oil & Gas conference. Government spokespersons, led by President Irfaan Ali, Prime Minister Mark Phillips and Vice President Bharrat Jagdeo, and other officials, revealed plans, set out priorities and declared objectives. The head of Exxon talked about the possibilities of the oil industry and its growing potential. Not only will production increase but discoveries will multiply. The official estimate of reserves is 10 billion barrels, the unofficial 13. Guyanese can begin to think realistically of a potential of 20 billion and hope for 30 billion.

This was a conference to encourage investment and investors were represented. But the Heads of Government who attended – from Barbados, Suriname and Ghana – spoke about the interests of the Guyanese people. Even though Guyanese leaders did so as well, it was clear that uppermost in the minds of conference participants was investment opportunities, and not wages and working conditions for the jobs that would be created.           Continue reading

Guyana: Why Has the Economy Been In Shackles Since Colonial Times – By Ralph Ramkarran

 CONVERSATION TREE BLOG –   – 

Guyana’s is and has always been a primary producer. During its years of Independence, although there was some economic growth, Guyana was unable to significantly diversify its economy by, firstly, adding value to what it produced and, secondly, advancing the process of industrialisation.

Apart from political instability and consequential factors, the absence of an adequate and cheap supply of electricity was the major obstacle inhibiting such development. For a decade and a half beginning in 1957, Guyana saw the construction of a bauxite smelter as a way of triggering and, thereafter, advancing industrial development. Both parties struggled mightily to access foreign aid for projects to increase the supply of electricity. From Tiger Hill to Mazaruni, both failed.      Continue reading

Guyana Elections 2015: APNU+AFC promises to set up Special Fund for natural resources

Opposition coalition promises to set up Special Fund for natural resources

Sunday, 10 May 2015 01:01 – Written by  Denis Scott Chabrol – Demerara Waves

A section of the APNU+AFC's attendees at the coalition's rally.

A section of the APNU+AFC’s attendees at the coalition’s rally.. … Click to Enlarge

Just days after authorities announced that Exxon-Mobil, an American oil giant has found hydrocarbons offshore Guyana but was yet to determine if it was in commercial quantities, the leader of the opposition coalition, David Granger announced that if he wins next Monday’s General Elections government would stash away some of the earnings from the natural resources sector for future generations.

“I am talking about putting the profits coming out of gold and diamonds, coming out of timber and coming out of petroleum and any other mineral discovered in this country but the profits will go into a Sovereign Wealth Fund to benefit future generations,” Granger told a mammoth gathering at a rally held  at the Square of the Revolution by A Partnership for National Unity+ Alliance For Change (APNU+ AFC)Continue reading

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