Introduction
Last week’s column concluded my consideration of the first of four modelled drivers [that is, Guyana’s oil and gas resources and reserves] and their related metrics, as displayed in the analytical framework I am using here [see January 28, 2023 column.] Today’s column centres on what I have earlier termed as Guyana ‘s oil opportunity.
By this I refer to the modelled time window remaining for Guyana to continue its profitable crude oil exportation to world markets. I have urged on several previous occasions that this window’s timeline lasts up to the decade of the 2050s. In turn, my conviction of this, rests largely on two projected variables.
These are, firstly, the United Nations modelled target date for a successful global climate transition away from carbon emitting fuels. And, secondly, the US Energy Information Administration’s (EIA) modeled projection of primary energy use going forward.
