On Friday last the New York Times published “The $20 Billion Question for Guyana.” It was a lengthy review of Guyana and the impact that the oil discovery by Exxon and its partners in offshore Guyana is likely to have. Two recent articles by the Wall Street Journal and Foreign Affairs, of world-wide reputation, like […]
Category Archives: Petroleum
DEMOCRACY AND JUSTICE PREVAIL NOW FOR THE THIRD PARTY
During the lifetimes of Cheddi Jagan and Janet Jagan, the PPP twice, unanimously, decided to support a two-term presidential limit. A PPP delegation in 1995/6 proposed to the Parliamentary Select Committee on Constitutional Reform that the constitution should be amended to provide for a two-term presidential limit. In 1999/2000, the same representation was made by […]
500,000 Barrels A Day.
With the production of 500,000 barrels a day for 300 days a year at US$40 a barrel, the annual income would be US$6 billion. The cost of production of oil varies widely, depending on whether it is onshore or offshore and if offshore, how far away and how deep. To give some idea North Sea […]
ENDING THE POLITICS OF ETHNO-POLITICAL DOMINATION
The spectacular discoveries of oil in offshore Guyana, with promises of a glowing future, must be tempered with what that future really means and with the realities of today. It appears that Guyana stands to receive $US300 million a year for the first five years after production commences and a little over that sum for […]
WHAT DO RISING POLITICAL TENSIONS MEAN?
Political tensions in Guyana took a turn for the worst over the past two weeks. This has resulted from the appointment by President Granger of former Justice James Patterson as Chairman of the Elections Commission. Claiming that the third set of names contained no one who was fit and proper as required by the Constitution, […]