Introduction
Last week’s column addressed the central dilemma facing Guyana’s continued prosperity and perhaps survival as the region’s fastest emerging Petrostate. That dilemma is, what is the probable shelf life for the continued profitable exportation of crude oil to global markets. A determination of this dilemma is required in order to establish credible performance comparators as of now and after the imminent public auctions of future oil blocks
In the last column I had introduced two proxy indicators for determining such a time frame. These were 1] the United Nations 2050 target for tackling global climate change and environmental transition; and 2] the US, EIA study of long run global primary energy consumption which forecasts a similar 2050-time frame for the shelf life of petroleum as the world’s leading primary energy source.
