Opinions

The views expressed here are solely those of the author in their private capacity and do not represent the views of OilNOW.

Opinions

Responses to oil price volatility for Guyana’s emerging oil economy

Bobby Gossai, Jr. -
The occurrence of certain events is probable in the precarious economic environment created by Oil Price Volatility (OPV); inflation and unemployment are both likely to increase, while investment, stock market returns, consumer demand, and industrial production are likely to...
Opinions

Impact of oil price shock on Guyana’s macroeconomic activities

Bobby Gossai, Jr. -
Crude oil is an important source of energy and used in domestic as well as transport and industrial sector widely. This is the reason it is considered as the crucial and important factor of economic development of the country....
Opinions

The potential economic effects of a global pandemic on the Guyanese economy

Bobby Gossai, Jr. -
The global economic activity will be more strongly affected by a pandemic with high infection rates rather than high virulence rates, all else being equal. At the regional level, regions with a higher degree of economic integration with the...
Opinions

Market arrangements for Guyana’s gas supply framework

Bobby Gossai, Jr. -
In a market-oriented framework, it is partly up to customers themselves to determine what degree of security they want – for example, they can install back-up systems, they can physically contract for gas and/or become actual or virtual storage...
Opinions

Measuring and valuing Guyana’s potential for gas security of supply

Bobby Gossai, Jr. -
Energy is a vital part of every aspect of modern life in Guyana and for our continued economic prosperity. There is at present no universally accepted definition of security of supply and how this should be measured. Factors such...
Opinions

Factors to consider for a gas generation strategy for Guyana

Bobby Gossai, Jr. -
Natural gas generating capacity will form an integral part of Guyana’s future energy generation mix and it will be a reliable and flexible source of electricity. Using gas as a fuel in the power stations will provide a significant...
Opinions

The importance of transparency for Guyana’s petroleum management

Bobby Gossai, Jr. -
Institutional mechanisms that could be implemented through a Natural Resource Fund (NRF) covers those that aim to promote transparency and the dissemination of information. It bears emphasizing that the mechanisms that have been discussed for dividing power are also,...
Opinions

Separation of powers to govern Guyana’s political economy

Bobby Gossai, Jr. -
A reliance on rules is vulnerable to the possibility that policymakers have incentives to break them. In states where the costs of breaking rules are low, therefore, other mechanisms are needed to change policymakers' incentives. An alternative to (or reinforcement...
Opinions

Oil was sick even before coronavirus hit

OilNOW -
(Bloomberg Opinion) -- Oil succumbed to the coronavirus this week because its immune system was compromised already. Amid headlines about quarantined Chinese cities and dozens of potential cases showing up in the U.S., Brent crude closed on Friday at $60...
Opinions

Institutional mechanisms for Guyana’s natural resources wealth management

Bobby Gossai, Jr. -
Rules One possible solution to the problem of overspending is to remove the government's discretion over how natural resource wealth is spent. Most Natural Resource Funds (NRFs) are set up with conditions on how and when money can be withdrawn...
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