Dear Editor,
Over the past several months, the topic of contract renegotiations in Guyana’s oil sector has once again taken centre stage. The debates and calls for changes have dominated the public discourse, creating a narrative that risks overshadowing the more critical issue – ensuring that Guyanese benefit from the oil revenue we know the country is getting.
While it is understandable that some individuals and groups are advocating for contract renegotiation, it is imperative to consider the broader implications and effectiveness of such an approach. The energy and resources spent on demanding renegotiations could be more productively directed toward empowering Guyanese with the tools and knowledge they need to capitalize on the opportunities presented by the oil industry.
Rather than perpetuating cycles of complaint and discontent, it is time to shift the focus toward education, training, and investment. Equipping Guyanese with the skills required for employment in the oil and gas sector and related industries is a tangible and sustainable strategy for ensuring that the wealth generated from this resource benefits the broader population. Training in programmes like engineering, project management and health and safety, can prepare the workforce to take on high-value roles in the industry.
Moreso, efforts should be made to encourage local entrepreneurship and investment. By fostering a climate where local businesses can thrive and integrate into the oil sector’s supply chain, Guyanese entrepreneurs will certainly have the opportunity to reap the benefits of the industry’s growth. This can include initiatives to support small and medium-sized enterprises (SMEs) in providing goods and services to oil companies or developing infrastructure projects that benefit the sector and local communities.
Importantly, continuous public awareness campaigns play an essential role in educating citizens about the potential benefits of the oil sector and how they can actively participate.
Waiting for a contract renegotiation, which may or may not materialise, risks delaying the progress that could be achieved through proactive and constructive strategies. Those advocating for renegotiations should instead channel their passion into creating programmes, partnerships, and initiatives that uplift and empower their fellow citizens and themselves. Such an approach would undoubtedly prove more effective in securing long-term benefits for the people of Guyana.
The focus must shift from bemoaning the obvious shortcomings of the deal, to teaching and enabling Guyanese to harness the opportunities within their grasp. By prioritizing education, training, and investment, we can ensure that the oil wealth translates into tangible benefits for all.
Regards,
Shelly Singh
