Will Guyana's oil wealth bring prosperity or turmoil?
ฝัง
- เผยแพร่เมื่อ 22 พ.ค. 2024
- Following the remarkable discovery of extensive offshore oil fields, Guyana, a small South American nation, is poised to join the ranks of the world's wealthiest countries. However, as this newfound wealth brings hope for prosperity, there are growing apprehensions about the potential negative consequences that accompany it.
Guests:
Arthur Deakin
Director of the Energy Practice at AMI
Melinda Janki
International Lawyer
Tom Sanzillo
Director of Finance for IEEFA
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It's GUY ANA not geeyana
Exactly.. I want to 👊🏼every time she says that
exactly ! she is so dumb
She's doing it on purpose 😂
Annoys me every time I hear it! 🙄
The lawyer should school her about her mispronunciation like she did when calling Guyana a poor country.
Guyana is not a poor country, not only oil ,we have more natural resources, proud to be a Guyanese 🇬🇾
Guyana not a poor Country,😂😂😂,
We all know all the politician are thieves! Doesn't matter who they are. The country cannot progress.
So what? You can be blessed with natural resources. But not all of your natural resources can make you money if it costs more to develop those natural resources than what you will make. For example, if Exxon did not spend billions of its dollars finding and developing Guyana oil fields to make a profit. Then oil money would not have become a source of wealth or income for Guyana. Baxuite and sugar cane are not profitable for Guyana, right now. Another thing, we might not be poor in natural resources in Guyana but we are, definitely, poor in ethical and moral behavior.
@@josephwinslow7613poor in ethical and moral behavior? That’s very harsh!
Up until the past few years, the destruction of Guyana complete because most educated Guyanese had to flee the PNC reign of terror.
While the government is working overtime to develop infrastructure, it’s going to take some time for the country to realize its potential.
It’s just unfortunate that the majority of the people who left in the 70’s onwards are no longer the energetic youngsters they were back then.
Exactly
@@traderboi2662Guyana is a poor racially divided shïthole ..
Why overseas new reporters always saying guyana is a poor country and almost every Guyanese own there own land, home and cars not by credits because we don't use credits cards here. It Ridiculous when most Americans living on credits cards and putting themselves in depth. Life is good in guyana 🇬🇾 it may not be easy but we are making it here by depending on urself not the government.
Speak for yourself sir...I've been in the housing system since 2007 and still don't have a land the Government is very selfish and don't care much about the people..only there friends and family it's very sad😢
THEIR own land. Putting themselves in DEBT. Depending on
OURSELVES. Otherwise, great comment.
imagine such a small country with so much land and so little people everyone cant get a house
If they weren't able to buy a home in Guyana, they were able to buy one in Queens N.Y.
The Indian people in Guyana are the ones that keep that country descent economically
I'M TRINIDADIAN,AND AS YOU KNOW WE HAVE OIL,BUT IT'S AS THOUGH WE DON'T HAVE OIL.I WAS VERY HAPPY FOR GUYANA WHEN I HEARD THEY DISCOVERED OIL,AND IN THE NEAR FUTURE WILL HAVE THEIR OWN REFINERY,AS YOU KNOW IN TRINIDAD THE PNM GOVERNMENT CLOSED DOWN THE ONLY REFINERY WE HAD WHICH WAS PETROTRIN,ALL I ASK GUYANA'S GOVERNMENT TO DO,IS HANDLE YOUR OIL PROFITS CAREFULLY AND MAKE SURE YOUR CITIZENS BENEFIT,AND DON'T END UP LIKE TRINIDAD.
I’m sorry we didn’t know that, but it’s nice (funny) that you think we know that TnT is like china or US some major country that the whole knows.
Amen. Guyana citizens, we have the internet. Do your research and make sure your government don't sell to foreigners. The world is watching and the corporate greed is ready to buy your land. Knowledge is power.
You talking as if we had one oil refinery.
Your prime minister in Trinidad his brain is for decoration and he is a pathological liar from tobago he deliberately destroyed the economy in Trinidad and caused hardship on poor people he has supporters in pnm that cheer and loyally support his poor decisions.
Countries all over the world that have a Refinery usually generate trillions of dollars from selling gas, diesel, kerosene, jet fuel etc.. Trinidad prime minister announced petrotrin refinery is not closing down but that was a lie.
No need to worry Trinidadian benefiting as well, since you guys had oil before us there are skilled Trinidadian workers present in guyana helping us to move foward
It cannot change until the wealth is delivered to the people.
@margaretandrews9061 ... I TOTALLY AGREE WITH YOUR COMMENTARY..!!
margret9061, so you prefer the Biden crime family to rule Guyana, and have a lot of corruption and thousand of homeless people in Guyana just like they have in America, or am I talking nonsense?
Went that happening
The people need to be educated or they will misuse the wealth.
And the people pee it all away ending up right back to square one.
Guyana currently has 11 billion barrels of recoverable oil. plans to produce 1.2 million barrels a day. assuming 365 production days in a year it is enough oil for 25.11 years of production. So I'd invest for more discoveries and spend it wisely... 25 years is not a long time to develop an entire country out of poverty. production revenue does not equal government income. still I truly hope this will be the start to lift the entire nation out of poverty and into peaceful happy lives. greetings from the Netherlands.
It’s Venezuelan territory and this concession to Exxon was not legal
First thing that we need to change in Guyana, is the mental, reckless, unethical and immoral behavior of our people in Guyana. We are not easy people. The depth of immortality, wicked, vicious, corrupt and similar behavior that exists in Guyana will make it very hard for our people to prosper and benefit from this oil wealth. Of course, this is my view and opinion about us, Guyanese people, other Guyanese will have their own views and their own opinions.
It’s honestly sad but true
I totally agree
Well said.
All facts
Really Sad ! Only Few Will Enjoy GUYANA'S wealth !
If America has a hand on this resource then nothing will change
Who else was lining up to explore with their own experience, expertise and investment. You guys are so ungrateful. Everything should be for free .Get the oil , sell it and gave the dollars to guyana
@@cliffm8112 Free oil? Its Guyana resources and if left until a time when oil cracking process aand technology will be more affordable, Guyana wouldnt need any of America's help. Here in Jamaica, even though they claim we have oil and is searching for it, i pray they doesnt find it until the people of Jamaica stabilize the political system. With corrupt government like ours, we wouldnt even benefit one bit, a bunch of goons. Just as how they sold out all our other natural resources.
@@bloedblarre Does it matter who do? Im sure most countries contribute to the overall improvement of processes globally, and buying the Technology will be a trade with money, it still isnt free. Do you know how many discoveries has been made in the Caribbean and around the world but was bought out by first world countries? And when you refuse to sell, they either eliminate you or your discoveries? This isnt a Disney series, its real life where the witches sometimes are the ones portrayed to be good.
Guyana needs to see how Norway handled their oil wealth and follow their playbook.
It’s Venezuelan territory
@@shababrk Nope. If pariah state Venezuela sneezes in an eastward direction they will find themselves in a whole new world of problems.
Development is when your people move towards a place of comfort.
Only to be undone by complacency.
Great reporting. As a Guyanese living abroad I hope they find a solution to benefit the people of Guyana.
All governments in Guyana
Have been corruptt and I hope That this report will mobilize Guyanese people.
We’re dealing with oil corruption in Trinidad 🇹🇹 too for years. Greed is our downfall, all our educators and talent fleeing the Caribbean and the white folks are benefiting from our talents when we should be home building.😩
yes i think the Biden crime family should rule Guyana then you will be happy eh ?
I did a lot of research about that country it's very wealthy and Rich . Guyana deserve every good things that comes to them . And fight back
No you didn’t, it’s Venezuelan territory
@shababrk . No you didn't what? Venezuela destroy everything even their own country. Look what they're doing to America . I the court made the right decision .
10:54 Amen
Man oh man, I’m just hoping for good governance over Guyana and the citizens of Guyana. ❤️❤️❤️❤️
Because of greed only few will benefit in a significant way. Engineers in Guyana are paid less than US$1500 net. The majority of Guyanese are underpaid and overworked in all sectors.
Not true, Engineers are being paid better these days. Bro
@@shampersaud2763 not in all cases Sham, some are, while others are neglected. Almost 60 years since Independence, yet no representation for Engineers in our laws.
@@shampersaud2763Doctors being paid less than that. And engineers getting more? 😂
true
Education should be #1 priority. The outsiders are usually the ones who benefit the most. Dont forget what they did to Africa.
This woman knows what she is talking about and we are seeing it every day. More over theese lawmakers dont care about the people
So Guyana should cease oil production? What’s your take, if you think she is so smart?
Too bad she can’t pronounce Guyana correctly. Makes me twitch when she says it wrong. Ugh 😂😒
Public comment. The attorney is right about everything she say regarding regulations dealing with safety issues against oil companies. Safety is number one priority. Fact
It’s not pronounced “Gui-ana” it’s Guy-ana! How does she not know this?
It is heartwarming to know that these discussions are brought to international forums. There's certainly a woeful concern about oil revenues. If the people of Guyana will become individual beneficiaries of such oil wealth because as it appears, the govt's focal interest at this time is to stablize their political existence by way of focusing on infrastructural developments while its nation still suffers abundantly from poverty. How will that oil wealth translate to the local people, is a matter of grave concern. Hope Mr Ali does well with its managment, not only for its government but become the benefactor to his people before it all implodes.
emjayjadster8705, well you really dont know about Guyana, only countrys that have a better standard of living in south america are Chilie and ,urguary, you belive the crap American news channels put about Guyana, But why do Thousands of Brazilians leave the switzerland of south America and come and live in the poverty stricken country of Guyana? amazon warrior
You mean brought to the internet. Everything is being discussed on the internet. It is 2023. The international world don't really care. They are only concerned about the benefits that can be derived.
Evidence of gross corruption within the government of Guyana, which negotiated a highly questionable contract with Exxon/Hess, began to surface from the beginning of the announcement of the discoveries, and they persist to this day. Oil experts from all around the world have expressed serious concerns about the inequitable contracts between the government of Guyana and the oil companies, and they continue to warn about these huge profits which the oil companies are, and will be, getting from the sale of the oil. Despite all of the promises by the incumbent, the people of Guyana will not share in any of the wealth in our lifetime.
@@TheChaNar its the PREVIOUS gov sighed the contract for 2% in stead of 12% but its only one oil block,but we are getting rich from that, so you dont need to worry Guyana is doing fine and we are the fastest riseing GDP in the world, and no we will not change the contract, but the oil experts what they are concerned about is Guyana progressing, we know the one world Gov tricks. And we love exxon mobile here.
It’s Venezuelan territory first of all
Well stated Mrs Janky. The truth needs to be known.
The Guyanese Government should have had more qualified people to help with the formulation of the contract, they were taken advantage of, the businessmen of these Global companies are extremely ruthless and predatory. However, it would not surprise me if the people who signed that ridiculous contract were secretly paid off to sign it. Hopefully, the Government spend the money on the infrastructure of the country, especially building up defenses against rising sea levels.
Well said.. I assume who sign the initial contact was only looking at the dollar figures. So now you have all the oil experts voiceing their opinions..i.e.. glen lall
Guyanese ppl are always paid off that’s why we’ll never go far.
A certain Winston Jordan of apnu signed the horrible control for a gift of 18million.
Pretty positive that Granger and his henchmen have foreign bank account offshore somewhere with a few billion dollars.
Guyana was NOT protected.
Dam ain't changing nothing. Get over it it's a dun deal
IT IS NOT A LATIN AMERICAN COUNTRY...IT IS A SOUTH AMERICAN COUNTRY; THE ONLY ENGLISH-SPEAKING COUNTRY IN SOUTH AMERICA, WITH 6 NATIONS.. I AM A GUYANESE LIVING IN CANADA. I SINCERELY HOPE GUYANA CAN SUCCEED WITH THIS OIL IN OUR COUNTRY.
This was a very interesting discussion. We hope there will be change that benefits Guyana. The people deserve it.
I think what Guyana need to is to get a team of advisors from the Arab country that has manage oil the best and form a committee with their locals that will oversee a successful management of this resource. They also need to revise the current contract and have more dialogue with all the Guyanese stakeholders on the best way forward and implement tactical policies for long long term success. The population is not huge, hence the government MUST implement EFFECTIVE legislation to take care of its citizens for years to come. Give these people first class educational opportunities, top class healthcare and safety, beautiful infrastructure, eradicate all taxes paid by the citizens, give the people elegant housing, and life changing social infrastructure. Before you know it all the suffering and cries would be a thing of the past.
They should join brics. They already got saudi arabia & uae on board.
I found many assertions by the host and guests to be inaccurate and a poor reflection of the actual conditions in Guyana. Guyana may do things differently but it has governed itself, protected its borders and maintained its sovereignty with abundant civic pride.
This needs to be heard. Thanks for this video. May God help us all.
I totally agree with you.......
Wow! This is mind blowing.
People are just upset EXXONMOBIL and company made another big score giving them earing potential. They made the early leap, invested, made a mutual contract and have nowhere but up to go. Thats a moving and equally paid ship. They're acting like ExxonMobil showed with a hand basket sitting on their butt waiting to haul away resources. They are actually working hard and strategically marketing their investment time, cut/ share.
@@guyanasun4361 well, Exxon did give a 20 million dollar “gift” to APNU to sign the contract!
@@guyanasun4361 .......... Many people do not see what is ahead ,
because they are always looking backward.
Good program I'm 🇬🇾 you need to check-in more often please
Very well said Melinda
Just to noted we do have public review process and the roads are needed. Tom did not do his research
Most countries usually build roads and install electricity and water, before
building houses and factories. Guyana is on the move.
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Trading with an expert is really beneficial this will help you avoid losing your money on the trading market. I also trade you with her and my portfolio has grown tremendously.
A wise person should know that in order to build success, should invest wisely and have proper knowledge or guide in the finance market.
I trade with expert Hilder Ferguson trading services. With her strategies i have been able to recover my lost and still earning.
I'm new at this, how can I reach her?
"Tradewithhilder"
That Guyanese lady is the sharpest person in there.
Imagine a foreign company, Exxon in this case coming to your country and forcing you to change your laws into its advantage. Now Exxon is going to sue corruption as an excuse to win at this game as if what Exxon is doing isn't corruption.
EXXON is talking for the Guyanese in a way that shows that Exxon knows what the Guyanese need better than the Guyanese and the Guyanese leaders themself do. Exxon will use the "non-qualified workforce" in Guyana to disqualify the Guyanese and instead bring in non Guyanese folks as workers. The same old tricks are being done over and over again.
Guyana you are in for a bumpy ride.
she maybe sharp but what she is describing is call the "dutch disease"
We know but the politicians are the ones letting them get away with it
A lot of what she said is objectively false.
3:20 spot on.
Oh what a time to discover oil reserves.
Eye opener.
Excellent piece of reporting that avoids being prejudiced in any way and is objective. 👏👏
Not really! These three are deliberately clueless about oil revenue management fund, infrastructure needs and the fact that up until recently was on the HIPC list. The government has stated massive plans to develop the country but the brain drain of the past 40 years caused by people running from a despotic regime, has created a significant shortage of skilled workers.
Great conversation! The lawyer is a true nationalist.Way to go! I hope the money trickles down to the Guyanese people and improve their standard of living. Corrupt government stagnates countries.
Why isn't there a Guyanese involved in this discussion to give his or her prospective on this situation.
We the people of Guyana knows what we are going true only the rich people family and friends are benefits an not the poor it is very sad to see what poor people are facing in Guyana
Guyana is going to move forward and develop ! Aśe
STOP SAYING IT'S LATIN AMERICA! THEY SPEAK ONLY ENGLISH!!!
That's how news is spread falsely.
its in SOUTH America , but Latin America relates usually to the whole of south america, I bet you you would be happy if she said the west indies and we are not a wetindian nation either
It’s interchangeable!
It is still a part of Latin America so it’s not mis information regardless of what language they speak
Latin America is generally understood to consist of the entire continent of South America in addition to Mexico, Central America, and the islands of the Caribbean.. GUYANA IS IN SOUTH AMERICA. IT'S NOTHING TO DO WITH THE LANGUAGE SPOKEN THERE...
I love all what u say and all is true
Love Guyana 😍
We have to protect our wealth especially the oil. Look what happened to the bauxite. Please all rich guyanese that living abroad
Lets wake up and preserve our wealth.
Guyana is country of predominantly Indian, African, and Amerindian people. I don't understand why we have white people discussing what's going to happen with the oil rather than the people that actually live in the country. I understand that Guyana doesn't have the infrastructure available to harvest this oil themselves and will have to utilize foreign oil companies, but if they can't even be part of the discussion, I foresee Guyana getting robbed of their natural resources just like was done by the British.
With a good leader they will be successfully
Well done Ms Jankie u represented this topic and Guyana excellent, its a shame the powers that be both past and present dont have the country's best interests at heart 😢😢
You are so bold
So long as they can flush out corruption, they will be fine
Public comment. Foreign countries must respect the laws of guyana. Comply with rules and regulations dealing with safety issues and pollution control now and no loopholes. No flairing. No dumping toxic chemicals in the water. Testing the water quality is vital for better environment. Government must test water quality in guyana water near the oil drawing area.
Guyanese should open our eyes. Guyana will benefit from this wealth if we pray and listen to people who has knowledge on what our revenue should be.
I remember the president of Guyana returning mid air because he didnt have invitatation but now he is welcomed everywhere.
How much of the citizens has the government of Guyana sent for training since 2015? How many doctors, lawyers, engineers nurses, teachers, accountants, environmentalists.....
Very well spoken mrs Melinda Janky, I agree with you on all points especially the part that the government should first focus on the wellbeing of people and the strive of the economy will follow accordingly. Right now it’s like all members of the government are CEO’s of the country
People, pray for GUYANA, STOP peddling negative informations in our beloved land...Guyana, is moving forward, and we ought to be grateful. Stop oppress our country, Exxon mobile. Live and let others live......This newsagent is trying to bring down Guyana . We can never trust any other political party, that this current Government. Please go and research more. Go in the country....The Government is transparent....
The people who signed a bad contract are demanding Free money
for themselves and all the inadequates who are too lazy to find a job.
I know BAR-RAT personally as a corrupt person it was 20 years ago.
How can Exxon Mobil build a modern, large, and beautiful office next to a decrepit home? When I last visited this is what broke my heart - there is a vast difference between the haves and have not. Though there is a lot of new construction, they really need to help those who need help with older homes to upgrade/update. Even if you distribute free building materials and paint through grants, that would help a lot.
It’s actually Venezuelan territory and it will be claimed back so don’t worry
Amen
The commentator raises the real questions, all beginning with big 'IF's'. From the very beginning, following the initial discovery of the massive reserves of petroleum, and the continuing revelation of more reserves, there have been constant reports of corruption among politicians and the oil companies involved. These 'rumors' persist to this day, at the heart of which is the questionable contract between Exxon, Hess and the government of Guyana. As an example, Exxon and Hess have been announcing huge profits, most of which can be traced to their take from the lucrative contracts they negotiated with past governments of Guyana and many corrupt representatives of the government.
This is what vex me. Never doubt when it comes 1st world endeavours but for us there are always looming questions. When we see everyday, countries like the US are festered with corruption.
If Guyana have all the other natural resources n the exchange rate is the weakest in the region, a very indebted country, how is oil going to make any difference, one big lopsided contact that only caters for the contractors?
This revenue should be wisely spent. In Trinidad the oil boom dollars of eighty billion in the seventies went like a dose of salts.
When Texaco was in Trinidad that company built housing developments in the southern areas, built schools, playgrounds; sponsored athletic meets and upgraded the economy. Maybe Government could get Exxon to contribute directly social services and infrastructures to the people of Guyana.
I think you all should share share and let peace rain
The law must be abide by all company across the board
God bless our country Guyana land of many waters
As a born Guyanese i love my country .
What i dont like is the mindset of some of the people talk about the discrimination from people who has the same skin color as you.
I was there for 5 summers studying ecology. The only bigotry I saw was from politicians, and it always ramped up during the run up to elections. I did spend most of my time in the bush but I saw far more unity (and intermarriage) wherever I went.
But that’s Venezuelan territory and it will be claimed back
You wish,shababrk...give it up not a blade of grass...
@@shababrkThey’ll sell it to you for 26 billion Venezuelan bolivars, or $35.68. 💀
Good for Guyana .hope you look to Alberta to help you along hw
The oil companies can well afford to abide by national laws and still make a profit, so slamming regulations due to unprofitably is nothing more than justifying greed
It is quite likely that MOST of the oil disappeared Guyana will NEVER come out of the group !
It is a simple matter of timing, oil is on the way out. The oil and gas found in Guyana would/could be extracted over about 50+ years, oil as an energy source will be phased out within 20 years.
For Guyana, oil will NOT change their lot in life.
Why do you experts can't find anything positive to say? Which party do you mean? I came to the conclusion is you people don't know what you are talking about.
Go back to school
You are exactly right. These are people with an agenda to spread misinformation and disinformation about Guyana.
The government has established strong provisions for protecting oil revenue as well as infrastructure and social development.
Let these idiots have their say but I just wished that TRT had done a better job of reporting the real development of the country.
@@atchanasanasee1429 I will
The demons of APNUAFC are behind this all, from those culprits in New York to Exxon Mobile so called analyst and experts...They don't like the PPPC GOVERNMENT, because they want to whole pie for themselves. And APNUAFC can not give account of the 18 million bribes.....Can't you see their trickeries. That young representative of Exxon Mobile, I don't trust him . He sounds misleading and intent to undermine our PPPC GOVERNMENT who said they are always opened to constructive criticism and is ready to talk sensible and fair negoations with them which they don't like..That Mirenda woman thinks she knows it all....
The government say their helping people in this country but a house 🏡 and land is 6 million dollar 💵 that is too expensive for people in this country and alot more things
Bring in people to train the Guyanese to do the work not bring in people to do the work!
You make a valid point too.
It’s still going to take time. Engineers, nurses, technicians, etc are being trained but it doesn’t happen overnight.
It's already happening. Do read a bit more.
I am from suriname 🇸🇷 we also have found olie in are water 💧
Great news. Hope your government does not meet with
too much opposition, like in Guyana.
Malinda is on point thank you
I refuse to continue listening this bias propaganda
Well said miss only one hand full is enjoying the sweet
Maintaining the roads all the times
No pot holes
I think the Guyanese government had already started a Sovereign Fund. It's a good start seeing how othet smaller countries in the area don't
Big up geeana!
Guyana is the riches country in the world but people for outside bully we
I dont know why the US UK and other developed powers feel like they are the only one who can manage money. Guyana was able to manage with little resources all of certain the cant manage when they now have more resources. Also, where are the experts from Guyana to speak to this issue?
Because they're the Super Powers of today's political Agenda!!
So what do you want for the Government to do for us that they are lacking, have you checked over half of the population own their new homes and vehicles. Can you the newsmongers, tell us what you want the Government to do for us besides what they are already doing? What experts, ?? Who do they think they are ? Only seeing the negatives....
Most people in Guyana owned car and home true the bank some can't even afford to pay thay morgue it a policy from Hitler Germany wen he say every German should have a car
Do you have any experience
Nothing will change .
🙌
Ok ooo
Having 3 analyst on and not one of them defending the opposite side. Very interesting indeed.
vote yes but fight tooth and nail to be sure the money is used to develope the nation , not just fill the pockets of the elites.
The circumventing question, where is Guyana's oil final destination? Will it trickle down to domestic growth?
Is the oil going to underground storage in East Texas/Louisiana for reserve on the looming WAR with CHINA.
This must concern lawmakers in the Caribbean community.
Have vendors sell the place of site which is built for citizens to sell there products
It is the government's job to protect all of its people. create jobs in agriculture, etc. and education. etc.
GOOD NIEUWS BUILD GUYANA FOR A BETTER FUTURE
We need solutions not crises.
I agree with the woman from Georgetown. That guy online for exon. He don't want guyana to benefit only exon
Geee anna. Where is that dear?
All these people who negatively commented on Guyana here are very envious of our country. They are also telling lies ,lies and lies......Stop critizing and condemning Guyana, it's time for Guyana to breathe and enjoy the good life like all of you .
The current Government is doing their best to improve the people's lives for betterment and not worst.....Stop cursing our land......Go tell al, other oil rich countries this, get your news there too.
Why is there talk about future contacts when this contract is larger in size compared to the other blocks remained?
It's Indigenous L A N D respect the Indigenous people