Opinions

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

Opinions

Guyana hopes oil will bring wealth – not corruption and crisis

OilNOW -
Speaking in an article published in The Conversation, visiting Assistant Professor of Politics and International Studies at US-based Centre College, Jennapher Lunde Seefeldt, says when Guyana begins producing oil by 2020, its Gross Domestic Product is expected to increase...
Opinions

Allowing resource revenues to be good for the emerging Guyanese economy

Bobby Gossai, Jr. -
There is economic logic in the argument that resource revenues can improve a country’s growth prospects, potentially unleashing a trend towards higher levels of income, savings and investment. Resource-curse studies have tended to focus on negative outcomes and to...
Opinions

Challenges to an extractives-led growth agenda for Guyana

OilNOW -
In the exploitation of many depletable resources, two separate investment activities can be distinguished that must take place if production is to continue in an orderly fashion: exploration and development. It is well accepted in economic theory that land...
Opinions

Creating a more resilient Guyanese economy to overcome the challenges of the Resource Curse

Bobby Gossai, Jr. -
The theory of a ‘curse of natural resources’ can be traced back to the 1970s. The subsequent two decades saw the emergence of a significant body of research proposing a link between resource production, economic underperformance and various socio-political...
Opinions

Maximising Guyana’s potential as an emerging resource-driven economy

Bobby Gossai, Jr. -
As an emerging resource-driven economy and one with a particularly low average income, Guyana must use its resources sectors as a platform for broader economic development, which could transform its growth prospects. However, as with other similar countries, Guyana...
Opinions

Ensuring Guyana’s petroleum resources are a blessing and not a curse

Bobby Gossai, Jr. -
Whether the natural resources of a country will be a blessing or a curse, depends on various factors. The recent oil discoveries of Guyana can induce an appreciation of the real exchange rate, deindustrialisation and bad growth prospects, and...
Opinions

Commercial choices and developmental linkages for Guyana’s promising oil economy

Bobby Gossai, Jr. -
Government preferences should take into account wider factors than those considered by private investors. This is because governments are concerned with the linkages between petroleum production and the rest of the economy. Also, governments are or should be responsible...
Opinions

Towards a depletion policy for Guyana’s petroleum resources

Bobby Gossai, Jr. -
The main aim of any country with petroleum resources is to achieve a self-sufficient level of oil production as quickly as possible. The analysis of resource management yields general guidelines, but very little in the way of practical concrete...
Industry Insight

Policy issues to consider for a Guyanese oil fund

OilNOW -
Economic theory suggests that there are a number of advantages arising from the establishment of an oil fund. These include the opportunity to create sustainable wealth, facilitate economic development over the long-term, enhance economic stability and ensure that the...
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...
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By Alana Nadir The energy industry was marked safe from sweeping tariffs announced this week by U.S. President Donald...

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