With an estimated 10 billion barrels of recoverable oil, Guyana now faces the challenge of striking the right balance between environmental preservation and economic growth, according to Commonwealth Secretary-General (SG) Patricia Scotland.
“…the lucrative mining of bauxite and gold as well as the recent discovery of oil, which has propelled the country (Guyana) to become one of the fastest growing economies on the planet, still presents a common dilemma for developing nations. This is the balancing act of delivering a healthy economy, social cohesion and equality, while protecting the environment and fighting climate change fuelled by the burning of fossil fuels,” Baroness Scotland said in an op-ed published exclusively in the last Sunday Stabroek.
Her reference to social cohesion and equality will be seen as important in the context of the country’s burgeoning oil revenues.
