Wrap-up, ‘Noise & Nonsense’ or ‘Signaling’ that Guyana’s windfall oil finds can halt persistent poverty

Introduction

Today’s column closes off my re-visit of the Buxton Proposal, which I started in Q3 2023. Initially, it was my aim for this wrap-up column to highlight several contingent considerations, not readily amenable to prediction or planning that are like trade-offs, inherent to a truly sweeping recommendation like a Universal Basic Income, UBI, social protection mechanism, along with an updating of the targeted UBI annual sum of US $5000 per household.

At this juncture however, the local social and print media are taken-up with the scandals, betrayals and sell-outs linked to the surprise sale to US oil major, Chevron, of Hess holdings in the Exxon Mobil and partners grouping, the Lead Contractor for the Stabroek Block. Not surprisingly therefore, the local social and print media are absorbed with behind the scenes intrigues and maneuvers involving Guyana’s oil and gas. Indeed, this is what drives the noise and nonsense, mis- and dis-information, as well as animates its thriving.