GUYANA’S FUTURE AS AN OIL PRODUCER by Ralph Ramkarran

With oil reserves estimated at 450 million barrels and gas reserves at 10 trillion cubic feet, Trinidad’s per capita income is about US$18,500, among the highest in the Americas. If Guyana’s production is in the vicinity of 500,000 barrels a day, as it should be, at a value of about US$80 per barrel, to which the price should eventually rise in five years, this will bring in US14.6 billion of which Guyana’s take at the usual 40 percent will be US$5.5 billion a year. Guyana’s per capita will move to about US$14,000 in the early 2020s. The Guyanese people are blissfully unaware of this potential income and what it would mean. The Government has given no indication.
RALPH RAMKARRAN

Is there a politician that can manage that kind of money

Following its discovery of immense quantities of oil offshore Guyana, ExxonMobil’s local subsidiary, Esso Exploration and Production Guyana Limited (EEPGL) has applied to the Environmental Protection Agency (EPA) for permission to begin development of production facilities here.
In an ad in the Guyana Times yesterday, the EPA informed that EEPGL has submitted an application for environmental authorisation to undertake Phase 1 of development of production facilities for petroleum production