Opinions

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

Industry Insight

Inter-generational equity and the rationale for Guyana’s “Sovereign Wealth Fund”

Bobby Gossai, Jr. -
The policy of investing resource revenues in reproducible capital suggests irresistibly that some appropriately defined stock is being maintained intact, and that consumption can be regarded as the "interest" on that stock (Solow 1986). Since the discovery of oil and...
Industry Insight

An oil fund for Guyana – the role of fiscal institutions

Bobby Gossai, Jr. -
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...
Opinions

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

Bobby Gossai, Jr. -
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...
Opinions

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

Bobby Gossai, Jr. -
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...
Opinions

Local Content Policy for Guyana: Maximizing Economic Benefits

Bobby Gossai, Jr. -
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...
Opinions

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

Bobby Gossai, Jr. -
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...
Opinions

Fiscal rules for Guyana’s future oil exporting economy

Bobby Gossai, Jr. -
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...
Opinions

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

Bobby Gossai, Jr. -
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...
Opinions

Letter: Pressing questions for PM Rowley ahead of MoU signing

OilNOW -
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...
Opinions

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

OilNOW -
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...
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Shearwater mobilizes Amazon Warrior for 3D survey offshore Suriname

Norwegian marine geosciences company Shearwater is deploying its Amazon Warrior vessel for a 150-day, 6,042 sq km 3D seismic...

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