In a recent letter, Ramesh Gampat explained in plain English why it is a ‘fantasy’ to say that Guyanese are rich because of oil. After removing oil from economic calculations, Dr. Gampat showed that ‘Of the 33 countries in the Americas for which data are available, there were 17 countries with per capita income larger…
The following is a commentary on Dr Bisram’s letter, `Even with a ‘yes’ referendum it would be difficult to convince ExxonMobil to come to the (re)negotiating table’ (SN Nov 9th). He writes: “The idea of a referendum is endorsed as it empowers the public”. No sir, it is to empower the government to do something….
Reference is made to my letter published in Kaieteur News on October 22, 2024 and captioned ‘Measuring oil profits in Liza One’. In response, Mr. Dominic Gaskin in his letter published in Stabroek News on Oct. 23, 2024 disagreed with some of the points I made in my letter, as identified above. Permit me, Editor,…
OGGN – Oil and Gas Governance Network (www.oggn.org/about) – does not agree with the letter ‘Exxon disappointed with KN headline’ in KN, October 22, 2024. Vice President Phil Rietema of EMGL wrote ‘… our ability to optimize all aspects of our Guyana operations to drive greater efficiencies and ensure we continue to deliver projects on time and…
On Friday, October 18th, Professor Janette Bulkan published a letter in the Stabroek News titled, `These wild presidential and DPI exaggerations, minus verifiable sources, ought to seriously be fact-checked by Stabroek News’. In the letter, the professor questioned how there could be 18,000 Guyanese working on the offshore oil rigs, as stated by President Irfaan…
With your permission, permit me to explain how total revenue, total cost, and profits are identified in the Guyana oil business, and in particular Liza One. In this regard, knowing the selling price (P) and the average total cost (ATC) of a barrel of oil signals the first decision point of any investment. The average…
Does His Excellency the President Mohamed Irfaan Ali live in an alternative universe? ‘We now have 18,000 Guyanese working on the offshore oil rig.’ See the DPI notice from October 14, 2024; https://dpi.gov.gy/local-content-raked-in-over-us2-billion-in-businesses-to-date-president-ali/ . There are 3 functioning FPSOs, each with a working crew of 150-160 according to the EIAs, of whom fewer than half will be…
Recently, Ambassador Samuel Hinds reminded Guyanese of the notion that ‘A bird in the hand is worth more than two in the bush’. I contend that this statement is only true when one does not have ownership of both the bird and the bush; and therefore, one has to manage both bird and bush and other…
I refer to a letter captioned, ‘Let’s feel good about what we are getting from our oil’ written by His Excellency Samuel Hinds, Ambassador, Former Prime Minister, and Former Acting Preisident of the Cooperative Republic of Guyana. In that letter, it is stated… ‘If we have troubles absorbing the US $4.4 billion according to some…
Knowledge is what we want. Schools are successful when they eventually show students how to acquire knowledge themselves. Knowledge is not merely information, though it is made up of information. It is not my intention to write a treatise on the processing and logics of turning information into knowledge by means of intelligence, but to…
