Introduction
My two previous columns had addressed taking stock of 1] the ruling resource price on offer to investors for Guyana’s oil exploration and development blocks [that is the Average Effective Tax Rate, AETR, or Government Take ratio, or share of net revenue flows yielded by the ruling [Stabroek block, PSA] and 2] predictions of Guyana’s supply of recoverable petroleum resources expressed in barrels of oil equivalent, boe [which differs from mine at 28 to 30 million boe;], that is Exxon’s 11 plus billion boe; and the Government of Guyana’s, 24 billion boe].
Because the purpose of the stock-taking exercise is to afford comparison between the outcomes of the pre and post public auctions of Guyana’s oil blocks outcomes, it is required that I consider here the time horizon for ready sales of carbon emitting crude oil, in the face of the unsustainable damage being created by climate change. Today’s column takes up the challenge.
