Wednesday, February 8, 2023

Opinions

An oil fund for Guyana – the role of fiscal institutions

Guyana has been blessed with an abundance of energy resources. For the next 40 years our economy will become a major producer of oil and gas. Hydrocarbons development is at the heart of Guyana’s future prosperity and a cornerstone...

Structural approach to maximizing Local Content Development: national benefits for an emerging petroleum-producing country

Initial efforts on local content have already contributed to the emerging oil sector transformation in Guyana. This can be seen from the first set of investment activities that are currently occurring with the establishment of new business frontiers, since...

Value-addition and human capital creation for economic growth: key elements of Local Content Policies

Local Content Policies (LPCs) are part of a broader category of policies known as Productive Development Policies (PDPs) or Industrial Policies (IPs), which, in the most expansive definition, include all government interventions, measures or programmes that aim to increase...

Local Content Policy for Guyana: Maximizing Economic Benefits

Increasing hydrocarbons finds offshore Guyana will offer significant opportunities to the country to fast track economic development and ensure that public welfare improvements are delivered to the citizens. One approach to doing so which should be adopted is to...

Guyana’s optimal policy – progressive taxation of petroleum and mineral resources

A commonly held view first introduced by the Dutch Disease literature is that resource price increases and more of the resource discoveries lead to higher government spending, an increase in the relative price of non-tradable goods and a loss...

Fiscal rules for Guyana’s future oil exporting economy

Commodity exporters such as Guyana should adopt procyclical fiscal policies that exacerbate macroeconomic volatility. Increasingly, empirical evidence suggests that the mismanagement of the commodity revenues may be a primary culprit behind the volatility in commodity exporting countries (Snudden 2016). Oil...

The financial sector and business cycle linkages in the emerging Guyanese oil economy

The recent oil price fluctuation has created concerns for many oil-exporting countries and particularly for the Organization of the Petroleum Exporting Countries (OPEC) members. For Gulf countries, hydrocarbon exports represent more than half of total exports. Oil revenues account...

Letter: Pressing questions for PM Rowley ahead of MoU signing

Dear Honourable Prime Minister, Welcome to Guyana! I note your newly-birthed excitement to visit Guyana and to partake in our oil and gas ‘prosperity.’ As someone, who still believes in the potential of the CARICOM project, it is always comforting when...

Letter-to-the-Editor: Times article an insult to Guyanese; SWF not in limbo

Dear Editor, We note with disappointment the article in the New York Times by Clifford Krauss entitled “The $20 Billion Question.” We do not wish to address the laughably simplistic and selective description of our country as a land where...

Suriname Dry Holes: “Do not despair!” – Elephant Man, Rob Strong

The following is an extract from a previous article I contributed to for OilNOW in November 2017.  “Canadian oil and gas consultant Rob Strong is adamant that much more oil will be found in the Guyana-Suriname Basin, in keeping with...

Latest News

BP extends Stena IceMAX contract for drilling in Gulf of Mexico

BP has extended its contract for utilisation of the mobile offshore drilling unit (MODU) Stena IceMAX, Stena Drilling said...