…For oil to work for Guyana, say NO to the PPP

SO here we are, one year after the PPP enticed Charrandas Persaud to jump ship and try to bring down the duly-elected government. Both Exxon Mobil and the Government of Guyana have announced the commencement of oil production. The news must gladden the hearts of all Guyanese at home and abroad. As Psalm 30:5 in the bible says, “Weeping may endure for a night, but joy cometh in the morning.”

As a country, we have wept for a long time. Entrapped by poverty and smallness, our options for development have been almost non-existent. Now, with this announcement, Guyana can now look forward to better days. Yes, better days are coming. Cuffy and Acabreh and Damon and the host of freedom fighters must be smiling from their special places among the ancestors. And yes, Burnham, Jagan and Rodney must be so glad that this day has come.

It is the best Christmas gift that Guyanese could receive. Christ came to save the world. The revenues that are expected from oil and gas would snatch Guyana from the clutches of underdevelopment. Make no bones about it, we are on to something that is potentially transformative. The rest of the Guyanese economy will benefit from oil revenues. The Oil and Gas industry is the gateway to economic expansion.

This is what the magazine Foreign Policy wrote about the Guyana situation: “Guyana is a country of about 780,000, and it could produce the same number of barrels of oil per day. At a price of $50 per barrel, that means a total revenue of close to $15 billion per year within the next decade—a staggering sum that other nascent oil nations have struggled to absorb effectively. And those numbers are just from one company—ExxonMobil. Others such as Total and Tullow Oil are actively engaged in the country as well—the latter announced positive results from offshore wells 14,000 feet deep in August. Tullow’s investments may reap up to 200 million barrels in recoverable reserves, though concerns remain about commercial viability given the fields’ high sulphur content. As a result of all this activity, the International Monetary Fund has predicted the country’s economy could grow 86 per cent next year. “That’s 14 times the projected pace of China,” Bloomberg reported.”

The returns are going to be big—far bigger than we earn now. In January alone we are talking about one million barrels. If the price holds at 50 dollars per barrel, we are in business. Many of the elites are warning us about the dreaded “Resource Curse.” That may be an issue. But the Teacher is more concerned about a different curse—the curse of the wrong government. The last government with far less money at their disposal turned Guyana into a kleptocracy. Imagine what would happen if they are put to manage what is coming.

So, the next step is the March 2 election. We must ensure that the PPP does not get back into office. Corruption and oil is a bad combination. And that is what a new PPP government would mean. The money would disappear into the pockets of the rich and the mighty. The criminal State would return. Guyana would become a haven for international bandits. If we want Oil and Gas to work for us , say NO to the PPP.