Opinions

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

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 Most Natural Resource Funds (NRFs) are set up with conditions on how and when money can be withdrawn...
Opinions

Challenges to prudent policies for Guyana’s political economy

Bobby Gossai, Jr. -
Transparency                                       The public observes aggregate government expenditure but does not know the precise origin of such funds. Citizens are, on average, correct...
Opinions

Spending and political support from Guyana’s natural resources revenues

Bobby Gossai, Jr. -
There is an important fact that must be addressed for new oil-producing states such as Guyana: The government's spending decisions can affect the incumbent's likelihood of remaining in power. As the incumbent foresees these consequences, they will modify their...
Opinions

Guyana’s political economy incentives against wealth accumulation

OilNOW -
It is imperative to highlight the political economy incentives that may face politicians in countries, such as Guyana, with accumulated revenues – whether or not these revenues are formally a "fund." To set up institutional solutions to make it...
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‘Big uncertainty’ over US oil output in 2020 will be critically important to oil prices – analysts

OilNOW -
The question of how much crude U.S. producers may be able to add in 2020 could be pivotal for oil prices this year, analysts told CNBC, while warning of the potential for “vicious corrections” in the coming months. Speaking to...
Opinions

1-Year Later: Advice for the Guyanese Nation on the event of first oil

OilNOW -
The following op-ed was first published on December 23, 2019. One year later, the advice from Trinidad and Tobago's former Energy Minister Kevin Ramnarine remains pertinent. By Kevin Ramnarine - OilNOW  Guyana is at the dawn of a new economic era...
Opinions

The political economy of Guyana’s natural resource funds

Bobby Gossai, Jr. -
The economic case for natural resource funds is surprisingly weak. There is, however, an important political rationale for resource funds. The importance of natural resource funds (NRFs) lies in the effects that they have on the incentives facing political...
Opinions

Public governance and integrity for Guyana’s oil wealth

Bobby Gossai, Jr. -
Matters such as public governance and integrity may be already addressed by existing legislation; if not, they should be addressed in the oil revenue management law or in ancillary regulation. At a minimum, the basic principles of public governance...
Opinions

Where is Guyana seeing the benefits of oil production?

Bobby Gossai, Jr. -
By Bobby Gossai Jr. Bobby Gossai, Jr. recently completed his MSc (Econ) in Petroleum, Energy Economics and Finance from the University of Aberdeen. Mr. Gossai, Jr.’s professional experiences include being the head of the Guyana Oil and Gas Association and...
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SBM Offshore targets 25% female participation in training programs

SBM Offshore Guyana is working to boost female participation in its training programs, aiming for a 25% representation, its...

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