Part 13
Introduction
Today’s column [Part13] is the final in the present series centring on my re-visit of the Buxton Proposal. For this effort I have directed close attention to updating and tightening the original analysis along with clearing up residual ambiguities. This concluding column begins by directing brief attention to three additional macroeconomic challenges that space did not allow me to address last Sunday.
Overall, for this column series on Guyana’s emerging oil and gas industry, I have taken great pains to stress that the noise and nonsense fake news notion of a global crude oil production system dominated by big oil firms, ended more than half-a-century ago. Starting with the formation of OPEC more than six decades ago, today, state-owned oil firms dominate global crude oil production. And, among the several consequences of this spectacular growth in state-owned operations, one of them has been, as the World Bank[2016] observed, “ a growing clamor for cash transfers to citizens/ households”
