Introduction At the conclusion of last week’s column, I had indicated the intention to wrap up in today’s column my discussion concerning the institutional architecture and governance in preparation for Guyana’s coming gas and oil industry.
Introduction Last week’s column advanced the view that Guyana’s membership of the Extractive Industries Transparency Initiative (EITI) is a crucial plank in the institutional governance architecture being designed for managing its impending oil and gas extraction industry.
Introduction Today’s article brings to a conclusion the three-part series of columns that have been reviewing Guyana’s proposed membership of the Extractive Industries Transparency Initiative (EITI).
Today’s column continues the discussion of Guyana’s long declared policy option of seeking membership of the Extractive Industries Transparency Initiative (EITI) as a cornerstone of its approach to governance of the fast approaching time of oil and gas production and export.
Introduction Last Sunday’s column completed my presentation of ten lessons which I have argued the Guyanese authorities can profitably learn from a studied appraisal of worldwide experiences with oil-based sovereign wealth funds (SWFs) over the past six decades.
This week I propose to conclude for the time being, my portrayal of lessons that can be learnt from worldwide experiences with SWFs over the past six decades.
Today’s column continues the presentation of lessons Guyana can learn from global experiences with oil and gas-based SWFs.
Today’s column attempts to draw lessons from global experiences with Sovereign Wealth Funds (SWFs), operating in the oil and natural gas sector.
Following last week’s discussion of Sovereign Wealth Funds (SWF) as a mechanism for avoiding and/or controlling the triad of crises typically associated with booms in oil and gas export revenues, I describe below the Government of Guyana’s declared intention with regards to its own SWF.
Introduction In last week’s column I had advanced the opinion that there were three policy priorities seemingly driving government’s approach to the development of the oil and gas sector.
Introduction There has been a veritable spate of commercial oil and gas discoveries since the 2000s.
From early colonial times, Guyana’s commodity potential has attracted external investments. And this attraction has remained easily the leading indicator of both Guyana’s growth and development performance as well as its prospects.
Introduction Under Section 31 of the Petroleum Act, official notification was given last month, by ExxonMobil and its partners (Nexen Energy and Hess Corporation), to the Government of Guyana confirming the find (discovery) of commercial quantities of oil and gas in the Stabroek Block.
Introduction Today’s column concludes the discussion on fiscal break-even prices for crude oil, introduced three weeks ago on November 13.
Introduction Today’s column furthers the discussion of the fiscal break-even price for crude oil.
Introduction In this ongoing series discussion of Guyana’s prospect during its coming time of oil and gas production and export (that is circa 2025), I had introduced in last week’s column the notion of the break-even price.
Today’s column continues consideration of the likely cost-price relation that might be anticipated during Guyana’s coming time of oil and gas production and export.
Introduction: Cost-Price Relation Two weeks ago (October 23), this column had introduced as part of the continuing discussion of “Guyana in the coming time of oil and gas production and export”, the notion of the “cost-price relation” that could emerge after production starts.
Introduction Today’s column addresses price, in the cost-price relation that Guyana’s oil and gas ‘discovery’ will likely encounter, after it comes on stream 5-7 years from today.
Introduction Today’s column addresses the “cost-price relation”, likely to emerge as Guyana transforms its oil and gas “discovery” into an industrial success.
Introduction Last week’s column provided additional data on the first of four features of Guyana’s recent oil and gas discovery; that is, its physical/geological configuration.
Introduction Today’s column is primarily aimed at amplifying those references, which were made last week to the dynamic features of Guyana’s ‘potentially massive’ oil and natural gas discovery.
In today’s column I introduce the second topic in the series appraising Guyana’s economy in the coming time of oil and gas production and export.
Introduction Based on the medium and long-term outlook of the world’s energy market, today’s column introduces two further policy lessons to guide Guyana’s planning for future oil and gas production and export.
The question I respond to in today’s column is: Does the prevailing world energy outlook offer useful policy lessons for Guyana’s benefit, in anticipation of its oil and gas production coming on stream in the early 2020s?
Introduction Last’s week column identified several key trends on the demand side of the global energy market.
Introduction Today I begin to address the third and final sub-sector in this long-running series of columns on the extractive industries sector of Guyana.
Introduction Today’s column concludes my discussion of Guyana’s extractive forest sub-sector. I shall return later to the issue of its governance, when I attempt a more general assessment of governance in Guyana’s extractive industries sector, as a whole.
Introduction Today’s column comes at the point where I am left only to discuss the export performance of the extractive forest sub-sector over the last decade (2006-2015).
Introduction Today’s column closes the discussion we are having on production of timber and non-timber products in Guyana’s extractive forest sector over the past decade (2006-2015).
Introduction As I have opined before, the microeconomic information supplied in last Sunday’s column, depicting employment levels within the extractive forest sub-sector, generally conforms to what might have been anticipated, given the weak, erratic, and declining economic returns exhibited by the sub-sector, when analyzed from a macroeconomic/national accounts perspective, for the decade 2006-2015.
Introduction Today’s column focuses on economic data for the forest sector, other than those derived from Guyana’s National Accounts, which have been already introduced.
Regrettable underperformance Readers would have no doubt readily gleaned from the subject matter which was addressed in last Sunday’s column, whether it was a boon for Guyana or a regrettable loss as I had represented it, for a country of its size, vulnerability, and poverty, which was also exceptionally well endowed with forest resources, to be seemingly boastful of its historically comparative low deforestation rate.
Introduction My recent columns have argued that, despite a relatively rich forest resource endowment, and relatedly a very high standing in the world of forests, Guyana has had historically one of the world’s lowest deforestation rates.
Dilemma Last week’s column revealed what is perhaps a crucial dilemma facing Guyana’s forests.
On-going series The recent media release by ExxonMobil to the effect that the findings of its second offshore well (Liza 2) appear to confirm the substantial size of Guyana’s potential oil and gas reserve, presents me with a welcome opportunity to remind readers that my recent columns on Guyana’s extractive forest sub-sector are directly linked to an ongoing series dedicated to evaluate Guyana’s future as an intensive natural resources extraction-dependent economy, in the coming time of large-scale oil and gas production and export.
Erratic Last week’s column highlighted what I consider to be a most distinctive feature of the extractive forest sub-sector’s performance in Guyana’s economy, during the past decade.
Introduction At present, several prominent geographers and forest analysts give strong support to the forest transition hypothesis, which I have been evaluating in recent weeks.
Hypothesized relationship A pressing question that arises from last week’s brief introduction to the forest transition hypothesis is whether it offers useful guidance as regards future trends in Guyana’s extractive forest sector.
Introduction Today’s column reflects on a well-known hypothesis (forest transition theory), developed in research on the dynamics of forests in human societies.
Economic growth and net forest loss This week’s column continues with the exploration of the relationship between, on the one hand, Guyana’s population and real national income growth, and, on the other, its rate of net forest loss/deforestation, over similar long-term periods, (that is roughly from the early 1960s to the early 2000s).
Introduction Last week’s column identified ten leading considerations which are responsible for the high standing of Guyana in the world of forests.
Introduction Last week I indicated that, for a small nation, Guyana has exhibited exemplary ambition in the development of its responses to worldwide environmental challenges, in the face of global warming and climate change.
Resolute action Between Earth Day 2016 and Earth Day 2017, 55 national instruments of ratification will have to be submitted to the Paris Agreement before it comes into operation.
Earth Day 2016 Signing ceremony As indicated last week, Guyana, together with 174 other nations, have all reportedly signed on to the Paris Agreement, finally negotiated last December (2015).
The “price of carbon” proxy Last week’s column introduced estimates of the carbon stock in Guyana’s forests.
McKinsey Report: LCDS Last week’s column addressed aspects of Guyana’s “high forest cover – low deforestation status”.
The MDGs and the Forest agenda Last week’s column addressed the burning question: “Is the global community driving the domestic agenda for Guyana’s forests?” My response to that was in the affirmative.
Although in my ongoing presentation of these articles on Guyana’s forests it has not been so far singled out for attention, it should be clear from last week’s contribution that the international forest agenda is directly driving much of the agenda items framing Guyana’s forests and land use policies, as the country goes forward.
Method March 21 was International Day of the Forest, 2016. Its thematic focus was “to shine a spotlight on the connections between forests, water systems, and sustainable development”.