Introduction
Because of its centrality to the query — as to whether projected oil revenues are likely to be large enough and sufficiently stable to finance successfully income transfers of the magnitude and stability required to alleviate substantially income poverty in Guyana — I need to explore more fully the workings of Government Take under the ruling PSA.
The above has been complicated by the relentless mis-specifications of the term Government Take in the local social and print media. In earlier contributions, I sought to make it clear that Government Take is a fiscal metric and therefore needs to be defined to avoid ambiguity. It is used as a metric for: 1) assessing government/company oil contracts, and 2) comparing these projects within and between countries. This is a supremely complex exercise.
