Guyana: Will its oil boom benefit the people? | The Stream
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- Опубликовано: 29 июл 2018
- Oil companies have identified massive offshore reserves in Guyana, one of South America's poorest nations. New estimates last week report that more than 4 billion barrels of oil could be extracted from a region known as the Stabroek block, where ExxonMobil expects to start pumping crude from in 2020. The country is poised to become a major energy supplier, but not everyone is optimistic about the potential for oil revenue to benefit Guyanese citizens.
So what can Guyana do to avoid becoming another poor, yet resource-rich nation?
On this episode of The Stream, we speak with:
Christopher Ram
Lawyer and newspaper columnist
chrisram.net
Jan Mangal
Former petroleum advisor, President David A. Granger
linkedin.com
Lisa Sachs @CCSI_Columbia
Director, Columbia Center on Sustainable Investment
ccsi.columbia.edu
Imran Khan @imrankhangy
Press Secretary, Prime Minister Moses Nagamootoo
dpi.gov.gy 
Развлечения
More constructive public debates of this nature are in order.. excellent job Stream!
Thanks for watching! Very glad we could host this discussion.
Viva Palestina ("Long live Palestine")
Supenaam Guyana could never develop from only oral this government mr. David Granger has condemned the sugar industry and the rice industry only depending on one resources when that one resource finish what will happen to Guyana you think that oil is going to develop Guyana it's not going to give our Guyanese people jobs this Administration is so racial it doesn't like in in-person uuuuuuu
What can we expect from mr. David Ranger nothing this Administration is punishing Our Guyana ExxonMobil is only in Guyana for the oil and to take our Oil Away we will not benefit anything from the soil Exxon Mobil is only a company that could gain from us and we could not gain anything from Exxon this Administration mr. David Grainger he does not like our Indian kind Mr. Barge aglio is the only person that could control and run this country smoothly and can control the oil sector
OIL will make Guyana POORER not RICHER: ruclips.net/video/YRUM4yd0_Kk/видео.html
How Guyanese people suppose to get jobs and we inexperience in the field? That's why from now the Government needs to invest in its human resources.
History have shown time and time again...the Ministers will enrich themselves...Classic example ... Nigeria... Brazil... too many to list....
all third world countries!
OIL will make Guyana POORER not RICHER: ruclips.net/video/YRUM4yd0_Kk/видео.html
@@caribbaviator7058 Brazil is third world in 2019? :/
Nigeria is a tribal nation . Brazil is a racial nation. Not the same.
What about Saudi Arabia, Qatar, Oman, the UAE, Bahrain and Kuwait?
Excellent discussion. It is well known that Guyana is sadly suffering from 'brain drane': Their highly skilled and educated individuals have left the land of many waters in droves with no desire to return permanently. The coalition are trying their best under the circumstances but what is quite apparent and this valid point was made during this excellent discussion, they should definitely adopt and learn from East Timor. Secondly, I got the distinct impression during my recent travels, that many of the population believe that Guyana will transform overnight for the better, which it will not. There will be a trickle down effect that will take time and reserves need to be maximised before this Midas effect can be experienced. Lastly, due to the corruption, which is becoming excessively out of control, foreign investors will only utilise this territory as a fleeting base and as a consequence, the neighboring islands will benefit the most (I.e using their territories as a permanent base and fly domestically in and out of Guyana only when necessary). Inevitably and in order to avoid the corruption, plus also in the long term, it will work out to be a cheaper option for them. Alas, the properties being currently built in preparation for the foreign investors long term letting will initially feel the untoward negative effects of this. I am rooting for the coalition government to turn this around and make the decisions for Guyana and it's people plus implement legislation that will ward off any long term negative outcomes for the various committees, the environment and their citizens. I just hope that the country's vulnerability will not become their downfall. I could go on and on, as I experienced and observed so much but please, with compassion, integrity and wisdom, make Guyana great again!!
MsAmakura They moving overseas to scam people.
TAKE VENASWALA-4 XAMPLE CORUPTION..DESTROYED THER INTERIST/RATES ON MONEYS OWED TO THE WORLD INVESTMENT BANKS,,,THUS ' THIS FIND ENTERS THE MARKIT ,AS AH PAWN IN THE WORLD OF OIL PLAYERS HWEVER,,,,,,,,,,,,DONT FUCK IT UP......GIVE TH PPL OF GUIANA THE MONETERY ACCOUNTING ,IN EDUCATION/WEATHER PROOF INDUSTRILAL MANUFACTION' FOR FUTHER...WORLD TRADE,,,URE OIL WOHNY LAST 4 EVER,,,,10 YRS..? SO MAKE IT GREAT FOR URE COUNTRY MANS /FAMILYS
Let's not generalise. Not 'all' are moving overseas to undercut people.
OIL will make Guyana POORER not RICHER: ruclips.net/video/YRUM4yd0_Kk/видео.html
I would love to interview you.
Great discussion and very eye opening.
Que bien saber algo de Guyana, gracias por la informacion.
Guyana will do very well and we will succeed and the country will prosper.. we as Guyanese are very fast learners
ACBN why so
Ok and now...oil discovery.. need I say more
OIL will make Guyana POORER not RICHER: ruclips.net/video/YRUM4yd0_Kk/видео.html
Nothing will change
New generation...Rise Up...Stand Up...for your rights!! 👍🏼👍🏼💖
I am so excited to go to Guyana to see my brothers Mikey and Larry 👏👍🤗🧚♀️
guyana is suffering from brain drain terribly
Just watching this video gave me a headache, Men always wants to be fighting for power anyway they can get it....that's why nothing ever gets solved.
This is where we always go wrong as a people, we built all civilization the world as ever seen . With good leadership we will be ok.
The statement that "there were NO negotiations to arrive at this contract" is a pretty interesting statement.
With the 2.3 million subs you have i hope it helps to bring awareness. i really like what the guy said exxon is not here to help Guyana it is here for a profit. Imran Khan said training of fisher folk in case of a oil spill. wow
yes its in Guyana to make money, so you prefer exxon not to make money? do you think we Guyanese should drill for it our selves?
Thanks gentlemen, for airing our dirty laundry to the world! Does it solve our problems? Possible investors will just turn their backs on us. This will neither help the current generation nor the future generations. We should have proper discussions at home that can lead to a better outcome for us all as a country.
The money coming from oil. Could be used to pay off the debts caused by this present Govt. The IMF has devalued our currency and there is a need to bring it back to par or even better. Also, the people need good health care and better hospital systems. Better educational systems should be put in place so that the people can get involved with new development. Please remember we could learn from Trinidad they were learning about this kind of business a long time ago. Please do not allow the political leaders to do like the leaders in Pakistan have done. Keep the Judicial system independent of the Government. Be ready to put them in Jail when they steal the people's money.
One simple question here please can anyone please tell me has there ever been a time in the past when a Guyanese politician was tried for corruption and was sent to prison has that ever happened?
No not one has been jailed even though their ill gotten gains are flaunted openly for us (the working class) to see.
This opportunity should be used for the benefit and development of the kings and queen of our country,the children.
Corruption will destroy the country.
It already did!!!!!!!!
OIL will make Guyana POORER not RICHER: ruclips.net/video/YRUM4yd0_Kk/видео.html
it already destroyed
Tritan Already has!
Corruption already did that. Where have you been since 1966?
Why this concern about jobs and not the entrepreneurial/partnership approach ?
Please update on Guyana elections on March 21, 2020
Education makes a nation! Health first! Protective eyes ward off corruption! All must benefit! Honestly is the best policy! Best wishes!👍🙏
Born and raised in Guyana and I can safely say that we the Guyanese people are screwed we have seen all of this happen before in the Gold industry Governments in Guyana have a way of pouring monies into their ideals and funds and the money is never to be heard of or seen again. Al Jazeera needs to come to Guyana and do an on the ground survey of what the public really thinks, I would gladly use my time to show you guys around and take you to the poorest places in the Capital City or anywhere just to get the facts right.
😊
The fact that we are not building a oil refinery in Guyana means you are taking jobs away from your locals and that a bad move
Trinidad has ALL the training and help that can be had for Guyana.
Guyana is ranked 91st on the 2017 Corruption Perceptions Index, so they are pretty corrupt. But hopefully it will still benefit the people.
So as the U.S.A.I live here and there many things hidden here not exposed to the media,no country is perfect
Alas in corrupt countries the people will not benefit and greedy people will destroy the country.
Guyana's population is small compared to its oil find and each person in Guyana should receive a check every month like Lybia's population who got free schooling from kindergarten to university free houses, good luck Guyanese. I hope the financial hitmen have not visited Guyana as yet.
But most likely Guyana will be more Angola and Equatorial Guinea than Libya with the elite reaping the benefits and the people SOL.
Aye we made it on the news atleast
OIL will make Guyana POORER not RICHER: ruclips.net/video/YRUM4yd0_Kk/видео.html
Jermain Roberts lmao 😂
I don't think the leaders are ready and can manage such development in Guyana and we as Guyanese wouldn't benefit much .
The government needs to weed out corruption before attempting geting oil monies
Don't hold your breath on that one.
We need to think long term on this oil wealth we are supposed to be getting, my suggestion is develop other industries from the sovereign wealth fund . This will create lots of jobs for example recycling factories , green energy etc!
Proud to be a guyanese
My man Chris Ram, I watch your show sir, great mind!
hay James carney, we will not come like Venezuela starving and have all that oil and neither Nigeria, you have been watching too many Africians pictures imposed on Guyana and saying that is Guyana, Guyanese are smart people.so no problem like that
You people out there should ask yourself ,why the people of Venezuela is starving.LET ME OPEN YOUR EARS AND EYES,IT IS THE USA AND ALLIES WHO BLOCKADE VENEZUELA AND ASSASSINATE CHAVEZ.TO TAKE THAT COUNTRY OIL BACK I MEAN STEAL. THAT IS WHAT THEY ARE DOING WORLDWIDE TO COLOR NATIONS.The Granger government is part and parcel who sold out the oil and gas the exxon mobile for payoff.
carlos guyana is a pooor nation.
OIL will make Guyana POORER not RICHER: ruclips.net/video/YRUM4yd0_Kk/видео.html
First time I saw Christopher Ram so quiet 🤣
Watch out from getting stripped blind by UK, US, FR. Work with VZ, Trinidad, Croatia, Brazil.
didnt we only get to keep 2% of the oil money?
Adriano Sverko Trinidad
@@rayanomar4832 bullshit. 2% is nothing compared to what there doing
I personally agree with Chris
Even if they do it badly it's still a shit ton of money. Look at desert countries where tribes made deals with oil companies and where they are now. Investing heavily in infrastructure should be easy.
Too many case studies out there, three of which border us, for us not to get this right.
It's available for sale at Guyana Marketing Corporation on Bourda Market Pasteurized Pure juices such as carrot lime and garlic thank you
A lot of information is either not shared or if available well hidden. What is important is the control of the revenue, and a clear sustainable development plan for when the boom goes on the low...shouldnt be feast or famine.Honesty in reporting the revenue etc etc. Trinidad suffered from massive corruption by the PNM govt that eventually lead to country to the IMF..also the projections have to be rather conservative given the continuing development of renewable energy resources.
Did You all see what to Venezuela that was one of the most riches country in the Caribbean. Now they are the poorest no food or work there I hope these ppl in Guyana dont bring down the country bcz of greed.
I’m no the lawyer but I could see what a RIP OFF that so called contract is
Will Guyana move Saudi Arabia and Venezuela into the oil market? Well, it would be a good opportunity for Guyana to have an economic development that will help it get out of poverty and become a powerful country. ✌
Politicians are very fast learner too.
Legal framework in Guyana is too weak or they are absent. To me that is the first system that needs to be in place and trusted. May I add the current government has too many 'square pegs in circular holes'. Speaking of oil spill mitigation; there was 'a kinda' training at a popular leisure resort but that to me is for coconut oil spill. Exxon Mobil cann't be serious.
This country is prosperity, all depends on the international community not experience sin massive recessions.
The investment should firstly be in education
On the basis of this conversation, one is left to logically conclude that this project is ill-prepared to commence. This project should be delayed until additional significant parameters are put in place to responsibly address the numerous concerns - economic, environmental, and local infrastructure.
Time will tell the
Time will tell about the oil boom benefits for guyana
@0:41 Stab-broek
Trinidad has already held 98% of the support services for the oil extraction because they have the experiences.
Yes 100 years of experience. With the changes in the Trinidadian economy, experienced oil and gas experts will be attracted to Guyana.
You will find your typical of Guyanese and humans (TRAINED SHEEP) in general who get upset when you call out INCOMPETENCE and point out things that just don't make sense....because "it will make their country look bad".
So pointing out that a country and with a population include the all those in government and all those who hope to be in government within the country have a lack of knowledge, training or education to run the infrastructure in a country is a wrong thing?
If the the people living in Guyana cant build a decent road, or build a small stadium (see the 50 th Independence Stadium Durban Park) to hold a few 1000 people properly without it looking like shit when completed, how are they going to over see a huge oil and gas corporation that even tries to screws over large western countries?
There are is hardly anyone in Guyana that can do the basics on even small scale infrastructure, they have to call in an private consult / build company from another country to do everything.
Most politicians are just administrators, why would these people even basic knowledge on oil and gas. The most they probably have in the country is a handful of people working under the government who have any clue on major infrastructure projects, much be able to keep track of a exploitative oil company that makes more than many small countries in GDP yearly.
There always has mass migrants guyanese to Trinidad and Tobago actual at present 25.440 illegal guyanese in T&T .the PM of T&T dr Rowley said the government is ready assists Guyana in their Oil discovery. Guyanese can be trained in Trinidad, for decades guyanese run to T&T to avoid poverty has cause our state millions of dollars as illegals don't pay tax contributing to 110.000 illegal immigrants in T&T therefore productive guyanese who has benefited from education and training in Trinidad can help in development in Guyana oil sector and infastucture
And now the trinis coming to Guyana.
The first thing they should do with the OIL Revenue, is stop all the taxes and share the money with the people, for a start.
Let the corruption begin
Late to the game. Trinidad already has held on the market in the region.
Critical Thinker most in the region use Venezuelan oil bro.lol
ACBN u definitely got to be a Guyanese
ACBN we (Trinidadians) love hearing shit like this lol 😂 if it was a shit hole we wouldn’t have to deport Guyanese ppl by the plane loads..nothing against my Guyanese ppl by the way got luv for y’all..just proving a point to this scunt hole ACBN lol
Trinidad only have a pin of oil compared to Guyana let's see you top that shit brain thrine all you do is drink rum and kill each other
@@abenabaggot8691 ......nah...Guyanese dont drink rum or commit crimes.
hahahahah Imran like a good soup drinker ..imran training hahaha
Best roads schools resort sport's facilities skyscrapers be just as any other first world country make it a place for business and a place people would want to work with
This government is pure failure..Exxon moblie is the worst thing to ever happen to Guyana.
Guyana is in a pivotal moment, it can either go one way or the other. Everything else is pretty much futile at this point because the ball has already started rolling!
Every Guyanese need a home there is nuf Guyanese with a home
Dear Femi,
This is the second time I have watched this segment of Guyana. In the near future a same type of issue will appear in Sri Lanka 🇱🇰 over Mannar oil basin , Kaveri basin, and Lanka basin through out the ocean teritory of the country. Please keep on eyes with this matter. Already China and India is in a battle with their investments over this country. Already US companies have signed an agreement for NSG Power project over the sea.Sri Lanka is rich with natural resources but they didnt make the benifit of it ever. Grafite , Phosphate , llmanite, Silica ,Granite and so many other valuable mineral resources already expot by certain foriegn companies in a bulky material context without any value added process in land. Country is in a real economic and socio political struggle at this moment. Curuption bleeding over the national body in a major scale. Keep in touch. Thank you.
Oil can make Guyana rich. Oil companies are difficult to trust if we study their History..I hope that Guyana acts wisely
Does that also include state-owned ones?
@@shauncameron8390 Not Allways
Why the Guyana govt sent Imran Khan and not a govt minister?
Guyanas, *_Unite !_*
Not *_"_*_ All African _*_"_*
Natives are *Indians,* ramificated throughout _Latin America,_ both opressed by white ones *.*
It should be Nationalist, not Dark Supremacy *.*
Every one has their rights, specially, those who were in _pré _*_-_*_ conquista_ times *.*
USA its an multi etnic society, but their iimmigrants were wised ones, came in an prospective nation *.*
Guyanas, Suriname were dumped with more poor slave labors, very few neerlanders or english remains there, making there an _"Far East"_ land *.*
If Brazil annexed, at least, the French one, guess would be better for the *land,* like Alaska, but that had to be done an century ago, probably today, Natives were under FUNAI's radar, with their sacred land & rights; the state would be an remarkable tourism route, along with heavy mineral production, mid-currency, BRICS member *.*
The natural environment must be protected from oil pollution, and very heavy fines meted out for those who choose to disregard the environment. There is no excuse for oil on the beach ever. Too many executives talk about money and few give scant attention to the quality of the natural environment. Where there is money, corruption swiftly follows. A special independent task force needs to be created to monitor what is going on both in terms of what is visible on the ocean, and the deals and paperwork hidden in executives' safes.
May I suggest that Guyana do what Alaska did with the oil revenues. Palin created a more egalitarian situation for all the people of Alaska by having all them receive a portion of the income no mater what economic situation they were instead of the Gov't. I'm not sure of all the details but it seems to me that everyone is quite comfortable with that. They use their money as they wish and if they blow it all one year they can always hope to do better the next year. They will in time learn and not be forced as slaves. Lots of love
Everyone.
Imran the Politician.
Wow one of the poorest country in which south america
Another country that socialism destroyed.
people you in something you not sure what will be the outcome
The only people the oil boom will benefit are those who work in it. And that would be a handful.
Once politicians don't full their pockets first, then the country will succeed.
No, it will benefit the corrupt officials and their families.
Like every other kleptocracy.
Follow the basic,create a system were by the working class must be able to see result for the labor one's should have put in,businesses should be welcome and be allowed to make a profit,but surely not at the expense of hard working class,in short no excessive profit.
there is no framework and this government is lost ..
These three jokers proved to the world the struggle of this Dear Land of Guyana. 😕
3 years later your answer is nooo :)
The politicians can talk as much as they like. But this country is dependent on the first world countries and their prosperity.
HELLO ALJAZEERA! Please go to GUYANA now....Guyana March 2nd, 2020 general elections is completed on the night of March 2, 2020 and currently Guyana is still waiting on an election result...despite having less than 600,000 voters. Today is April 4th, 2020.....
The international community can help guyana by pointing out corruption of our government. Media outlets can put pressure on the government to do right by the people. The oil spill issue is one way Jazeera is helping tight now
hi James cartney, embrace latin emerician culture so we can come like venezuela,bankrup and starving.
the language you use here is all wrong alJazeera..."Exxon Mobil expects to start drilling" ...as if it is a mere formality!! They can decide not to exploit that resource and not deplete their environment. Oil is becoming a redundant resource so if the landscape is decimated what then becomes of the beauty of the country for which it is known for? Short term thinking
Talkshop , Guyana ain't getting nothing
Same thing that has / is happening with foreign gold miners who are raping the country due to lack of experts on the part of Guyana.
This bickering between Imran and Chris just slows things down and causes confusion. At least give each other the gentlemanly respect to allow each other to speak. You're not here to moderate the discussion. That's the hosts' job.
2%
guyana was on the move long b4 oil ok since 4year back it on the rise
Not to demonize business but some things are necessary.
🤦🏽♀️ Lord please help Guyana! I pray that wisdom will prevail. And those in authority need to put their egos aside and do what is right for the people of our country. I am tired of seeing the poor get poorer and the rich get richer. Hard working Guyanese yet no one cares. Parties going into power with promises they never keep. Show me the progress for all Guyanese and that you care about all people in the nation. Then you will have my attention.
Guyana will be holding the empty bag outside entity get all the money
Take the oil money invest it in industural gold mining, bauxite mine, Dimond mining and all other equipment to process the recourses . Put more money into organic Agriculture and university.
luda Christ, you need correction, Guyana is not a poor nation but a middle income nation,which has a better standard of living than a lot of other south american nations,and east tern European nations.and it will be the richest nation per head in the Americas.
Guyana is the 3rd poorest country in the Americas. Only Nicaragua and Haiti are poorer.
Corruption in highest and low puppets government places
When people look back to this panel they will say no black people lived in Guyana? Raaaant
That a big lies no training in berbice for oil spill
East Timor situation is different from Guyana.
will Guyana be better than Trinidad.... who have oil many years now and look at them now ..still the same ....
It a big lies on training for oil spill in berbice
Apparently they’re taking steps by creating a Sovereign Wealth Fund.
Hi