Opinions

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

Opinions

Contemplations on the way forward for the emerging energy market of Guyana

Bobby Gossai, Jr. -
The institutional background and regulatory framework for Guyana will evolve in the post-first-oil period, and various policy changes must be instituted beyond 2020. The rationale of an effective energy policy lies in the identification of underlying market failures and...
Opinions

OPINION: TIGI columns on oil block investigation misleading

OilNOW -
The two recent columns by TIGI published in Stabroek News have featured attention-grabbing headlines. But after unpacking the lengthy sections of legal jargon and quotations I still struggle to see any clear-cut case of illegal activity being made. I will...
News

Guyanese energy market outlook and the new philosophy

Bobby Gossai, Jr. -
The laissez-faire economic philosophy and the increasing dissatisfaction with the performance of public enterprises can lead to the explicit attempt to opt for a market solution which will abandon the main features of the current “energy policy”. Hence, there...
Opinions

Competitiveness of the local energy market to maximise welfare

Bobby Gossai, Jr. -
Guyana’s energy sector includes the largest monopolies in the economy – in electricity and gas. The oil industry will be dominated by a few very large firms. The existence and apparent inevitability of monopoly have proved a motive for...
Opinions

Guyana’s energy policy and the role of the state

Bobby Gossai, Jr. -
Guyana is in the midst of an energy revolution. The economic landscape, developments in technology, evolving business models and consumer behaviour are changing at an unprecedented rate, creating more opportunities than ever for the local industries. The national grid...
Opinions

Designing energy subsidy reform strategy for emerging economies

Bobby Gossai, Jr. -
Many countries have incorporated specific measures into their subsidy reform strategies to overcome the barriers of energy improvement. Country reform experiences suggests the following key elements can increase the likelihood of successful subsidy reform: A comprehensive reform plan; A...
Opinions

Reforming local energy subsidy and competitiveness

Bobby Gossai, Jr. -
Energy subsidies are pervasive and impose substantial fiscal and economic costs in most countries. On a – pre-tax basis, subsidies for petroleum products, electricity and natural gas are high, when compared to Gross Domestic Product (GDP) and total government...
Opinions

Letter-to-the-Editor: Guyana needs to change political culture to reap full benefits from oil

OilNOW -
Over the past few days I have attended the Offshore Technology Conference (OTC) in Houston, Texas with its expansive display by hundreds of companies and countries including Guyana as well as conference sessions and collateral events. Guyana is well...
Opinions

Macroeconomic effects of oil price volatility and the implications of energy subsidy reforms

Bobby Gossai, Jr. -
Sharp increases in the price of oil and other energy products are referred to as classical examples of negative supply shocks (Hamilton 2005). Increases in the price of oil lead to increases in the cost of production, which in...
Opinions

Management of resource income spending for Guyana

Bobby Gossai, Jr. -
Countries making resource discoveries often find themselves facing a number of important and difficult decisions. One such decision regards whether to set up a sovereign wealth fund – or more generally, determining a time profile for the usage of...
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