Will the Money from Guyana's Oil Boom Get to the People
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- Опубликовано: 23 июл 2024
- Guyana is poised to become the next big oil producer in the Western Hemisphere, attracting the attention and investment dollars of some of the biggest oil companies in the world. Exxon Mobil and Hess announced the successful drilling of a deep water exploration well that may soon confirm that the seafloor beneath Guyana’s coastal waters contains one of the richest oil and natural gas discoveries in decades. Experts now estimate that one of its offshore fields alone, known as Liza, could contain 1.4 billion barrels of oil mixed with natural gas, comparable to some of the larger fields drilled in South America.
The question now is, will the money gained from Guyana's oil boom get to the people of Guyana?
I am a young Guyanese-Canadian man, and although I have never been to Guyana, however knowing that these changes are happening right now in the country my parents called home is very very interesting. Thank you for such an intriguing conversation with great perspectives.
I believe the government should use the oil money to generate infrastructure projects, which will develop the country and create jobs at the same time.
right on bro
A C , the government could include in buying large buses for public transportation and set up its own entity like the one many years ago to improve a schedule bus service across the country. (prefer yellow buses just ☺)
THEY ALREADY DOING IT RIGHT NOW BEFORE DE OIL MONEY COMING IN, THEY ACTUALLY BUILDING NEW ROADS EXPANDS DE EAST COAST STOPPED AT ANNANDALE, EAST BANKS DE COALITIONS BUILDS TWO OVERHEADS CROSSING, SCHOOLS BUSES ETC
@@charlesalves5367 First the roads have to be improved.
@@ananmai8700 LOL
Isn't oil a Trillion dollar industry? The signing bonus alone should tell you what kind of deal its going to be.
Invest in education, create a sovereign fund, don't overdo infrastructure because construction is an avenue for corrupt practices. Use the money to improve tourism, and other sources of income. Investment not spending should be the operative word. Good luck Guyana... from a Nigerian, you'll need it!
There is good and bad. Don't take too much for granted.
Encourage the building of institutions especially nonprofits. Encourage citizens to work together for their common good.
Free money is not good money. Dividends paid to the people for the exploitation of natural resources is a plus but the people must be educated on why those payments are made and what is lost as a consequence of that exploitation. It must never be seen as a social program/benefit, otherwise you create the kind of high gov dependency, low productivity, low responsibility culture we have in T&T. Which allows corruption to flourish.
And this right here is part of the reason why people say socialism is destructive.
Guyana should use the first 20 billion on massive infrastructure & development... get taxes from workers which ll boom the economy
as a guyanese, this man should, be involved in our politics
Don't say that he is a crook came out of Guyana, in the 80,s he try to over throw the Burnham government.
Direct distribution very bad idea...people will have no motivation to work...take the money and send it straight to development of the country...roads,bridges,schools water. ECT...
letsgetsocialinfo u have no idea where our text money goes to in Europe and the citizens of these country live lavish off of it so let our ppl get there money can't trust no government in these times
Speak for yourself
letsgetsocialinfo I totally agree
Very informative! Namibia 🇳🇦 & Jamaica 🇯🇲 need to take notes 📝
I like the idea of direct payments to the people with incentives as per Education, investment in homes etc.
Guyana 🇬🇾 should get the technical personnel, legislative team and those who are astute with respect to finances to expand negotiation and revisit the contract.
I liked of the sound track, i felt like to set a spliff! 😂😂😂😊
Enlightening
Great interview with Prof Haynes on the projected economic oil boom in Guyana. Agree the People should benefit regardless of race colour religion or creed should benefit with regards to Social benefits Education , Health etc. Prof Haynes is very knowledgeable and has very good insights for developing Guyana. Keep up the good work Paul.
Guyana is a bless nation ..there is gold bauxite timber and now gold ..wow God bless my country Guyana .🙏🙏🙏
Sorry and now oil
constance small :
Yeah!
But governmental and political corruption will destroy socio-economic progress.
And, what of ethnic biases, especially amongst the East Indians and Africans?
From the advent of Independence in 1966 to the present, the standard of living of at least 75% of the people has DEcreased exponentially - with the Africans at the very bottom of the social and economic "strata".
Power and Corruption!
The Oligarchs: political and entrepreneurial charlatans and exploiters...
And now oil 😂
❤❤❤❤❤❤❤❤❤❤❤good job
Very good question .
Guyana should have hired a team to negotiate on their behalf
All my support from Martinique ,,😉😘😘😘
Guyana has the luxury of history and knowledge of previous nations' mistakes to have any excuse to not do better. If the Guyanese government hasn't considered better transparancy and stiffer penalties for corruption (lifetime imprisonment, forfeiture of all assets, or even the death penalty), then they are doomed to an explosion of corruption when the oil starts flowing.
TRUTH BUT WHO WILL WANT TO BELIEVE IT.
Love that
Very smart man you can tell he has been educated over in America.
Hearing reports that Jamaica may have over 200 million barrels of oil offshore also. Having oil is not a silver bullet. Nigeria and Venezuela are great examples.
Namely because of government mismanagement and corruption. The Middle East has oil yet is significantly better off.
@@shauncameron8390 - Also when oil makes up more than 60% of an economy-it can negatively affect one's economy when oil price falls.
@@jasonparkinson7621
Just ask Venezuela.
If from the beginning the government start hiding information from the citizen of Guyana ,,what do you think they will do later?
Music was too intrusive. Had to go elsewhere!
The government needs to use the profits from the oil to elevate all Guyanese financially, build better and sustainable road ways, add more public hospitals in the rural areas so that peopple don't have to travel hours to get to the GT hospital, upgrade our ambulance system, upgrade policing and increase their wages to align the cost of living in Guyana, increase old age pension, re-educate all public servants in customer relations on how to serve the community with respect and dignity, repair all dilapidated government buildings. give those squatters land and some money to build at least a 2 bedroom house for them and their families and many more.
Seniors citizens must get a minimum of $250 US per month. And they dam well deserved it.
I agree I think the get currently 90 u.s a month have to pay light and water bill cell phone and transportation some have to pay rent plus food and different stuff not a lots at all Trinidad pensioner get over 500 American
Any person caught in the act of corruption should be charged for treason and get 10 years to life depending on the severity of the crime and the effect it had on the country also they should invest it tourism and jobs and try and stabilize the economy and dont just spend the money but save and add too it
True independent is being debt free because when you can’t pay back your loan they will come and take your oil.
We have been living below the poverty line for a long time and doing fine. There is no need to borrow money for a population less than s million.
Firsthand knowledge is to make this Guyana 🇬🇾 a very important strategic destination for all the citizens who have prayed so long from mosquitoes malaria and other infectious diseases must be provided solved with proper medical medical 🏥 treatment and sanitation to move the country forward into the future by concentrating on its citizens and allowing freedom expression towards their communities to thrive period.????.???😂😂😂😂😂.?????.
I also come from a third world country with many many rich natural resources however the management and control over these resources every time appears to be the biggest problem due to lack of knowledge and for most corruption dressed in GUCCI AND PRADA .
Pray for the best. 🙏🙏👍🙏🙏🙏🙏
I am so sorry those in charge did not do thier maths
The government must commit to courageous leadership for the Guyanese people to prosper and not fill their pockets with the money.
We're still waiting to see what happened with the oil monies.
@ulrichlachman1216
0 seconden geleden
Guyana also has a border dispute with Suriname. What Rusland did with the Ukraine is the same what Guyana did with the area in the south east border with the area of Acarai Mountains Coeroeniriver and the Corantijnriver of Suriname. Every river has a begin point and and end point. The begin point of the Corantijn river is in the Acarai Mountains in the north by the border of Brazil and the south of Suriname. Guyana calls the part of the Corantijn river New river and that is false. So the area between the Coeroeniriver, Corantine river and Acarai Mountains is Suriname territory. Keep that in mind.
The passed five years the PNC government stood all the money coming in , so how you going to give the people something.
Now with the income from the oil rent and from the mining companies, we expect the Guyanese government to invest in the construction, expansion and improvement of paved roads with their respective sewers throughout Issano and its surroundings in Region 7.
If you keep the citizens blind to the information through a closed system, it's easier for the government to not be accountable to its citizens and for them to steal and give to their associates, friends and family members. When the citizens are lacking knowledge (uninformed) on how government works, how the economy of the country operates, the responsibility of government to its citizens, hence keeping them illiterate about important matters puts the government in an advantageous post, while the citizens remain at a disadvantage.
Wait and see
Irfraud Ali is going to buy a 300 million $ penthouse in Paris, lol
Infrastructure Infrastructure Infrastructure
Well obvious one of the first things money should be spent on is infrastructure and Education.
Guyana badly needs flood protection systems, roads and other major civil engineer project. to bring guyana up to levels of at least Trinidad and then Brazil
But of course the money will probably get squandered away or be wasted by any government that get into power.
Money is squandered in Trinidad too and they still have ok infrastructure structure,so the same can happen to guyana.
Poverty in the out skirts community may never be addressed because too much is being spent in the capital. And the capital needs a lot of reforms to be a clean and property manage city .Road traffic cu.ture is a disaster that needs a lot of work to fix .
FIRST OF ALL THE FIRST MONEY MUST BE USED TO BUILD A HOMELESS SHELTER--AND A ELDERLY HOME ...THE HOMELESS PEOPLE AND THE ELDERLY MUST BE ABLE TO ASSIST WITH THE UPKEEP/ AND THE CLEANING OF THESE HOMES--A SOUP KITCHEN FOR THE POOR AND HUNGRY IS ESSENTIAL TOO --WHO HAVE HOMES BUT CAN'T AFFORD TO EAT .
Me, guynise. I don't want the oil money to reach the people.What I want is for the oil money use to developed the country.Start with a seawall from the tip of north Essequibo to the tip of Burbice Atlantic coast.The surage system ,the garbage,The roads ,lighting,Water ,Health ,Education, Undoing so jobs will be created all will be involved.
Those who talk about any other than this will lead to corruption and they ate full of crap.'God bless Guyana'.no more corruption please.!!!!!
Those who misuse the money shall be put to deatt.
I don't like the intro music playing on the right side channel
and why is that?
It's weird and for a second I thought my headphones was broken.
I hope the government of Guyana. That money to develop that country like infrastructure building bridges road. Sewer system over haul the police change the law like the Americans will bring job
my take is frpm all the oil revenues we are going to receive, put 1/3 into investments, 1/3 into building infrastructure and the last third into direct distribution to its citizens. The percentages may need adjusting but those 3 areas are of most important especially direct distribution to its citizens.
orin greene what of debt reduction?..the country will continue to be poor once it owes trillions to international borrowing agencies...no one can be rich if their money belongs to someone else
A free house with a big piece off land.
Were All the credit money go
The should raise the pension and people who disable with it
If you don't know how to speak American well jus leave it alone both guys speaking hella funny 😂
Stay chune
Were the proceeds of its natural resources prior to oil distributed democratically before...? Then there is your answer. It simple the same class and race of people in crushed poverty before will only be exasperated. The simple solution is that Lief Winer book "Blood Oil" makes simply clear. I every drop oil should be split evenly across all the population.
Augur Cybernaut no is saying if the oil wealth is going to help old age people
Yes it was distrbuted demographically before
The first thing the Government must do with the oil reserves revenue is this , raise the salary of all civic institutions ok such as, Police the fireman, teachers, nurses , doctors, Prison warden , the Guyana defense forces, judges , all Government employees, ok the money will reach the people next, is legislative private sector. Wages increase. Such as DIH, fishery , bookers , and other private sector wages must increase to $7,000 Gt per hour ok. The money must my people the Messiah speaking.. When yuh put forth excellent management as i am directing the yuh will cut back the racial tension in this holy land that is devided now . the people will fee self worth because the know the country is operating in good management and that will generate a much warmer attitude in this holy land.. Crime will decrease by 75 % nation wide.. More people will get more work and less will become useless..
Then next Guyana must create a stock Market its has the ability to generate a stock market with such commodity oil , gas, gas , respectively remember they many of oil for those that don't know cooking oil to fry the fish, gas fot the Gas stove , then Gas for your cars , and propane gas for such used ok , then yuh have karo for yuh one burner stove wah the Rasta man cook his ital food ok, then come the. Diesel gas for heavy duty vehicles ok .. Then what the must do is this increase my sword sharp i hands of God the Messiah i want my sword Glitter as the 🌞 shine forth in strength an powered in crease my military in air on sea on ground its a demand. I told that same Ralph tratman in 2016 i wrote that minister of Resources telling him i want to invest in Guyana oil projects. At that time the discovery was only one now there are 11 oil to extract oil from by him ignoring my invitation i new he is extremely incompetence no wonder he is in trouble now i know it (from the Messiah SGMP..) I told the minister i want 39% of the oil and gas / in Guyana ok i will sit back an allowed it to be totally consume by other Europeana business no its will be of such ..
What is the state of private of the Private Sector Construction and Engineering Industries in Guyana.????. www.damaze.ca
So I'm here a flat foot Guyanese its June 26 2021 and boy it don't look good at all everything has gone up food raised by 55% building material by 80% talk about pressure its as if our government has sanction us
The money / income ( annual income )should be divided in two, half to the government for public infrastructures, and the divided into shares to the people of the country. The colonial laws of plunder / escheat should be abolished. Put money into the hands of the people while, while development of industries care pushed.
Diversify the Economy of Guyana
Yes to the oeople of Guyana and not governmental correct
Guyana is Indigenous people L A N D so is the Oil
And how much pollution will we have in the land of many waters and abundance of fauna and flora?
Ask jagdeo where the oil money gone
If the signing bonus is an indication of what to come then you already know what's going to happen read the signs unless we have a transparent government in Guyana the people of Guyana will only get poorer and poorer and poorer they will not see this money just the rich and government packets will swell fatter and fatter but the people of Guyana need to hold all our elective official responsible and if they cannot do the job that there was put in there to do there shall be removed 20/20 is coming let's not wait for that let's deal with it right now the sign on bonus already show you what government we're dealing with no transparency no respect equality no trust and no confident they need to be removed
If I'm correct this is something the previous government was already doing incentive to keep your kids in school buy uniform and helping out the pensioners that is something this current Administration discontinue and took away from the kids no help to buy uniform no help for the pensioners so do you really see this government returning those things today citizens I don't see it happening
Gee Persaud The transperancy index says the opposite.Guyana is less corrupt now than it ever was.
Gee Persaud the ppp was using public money to bribe the guyanese populace. Obviously the guyanese are not stupid, they took the bribe money and still kicked them out of government. Also those funds were a mere pittance. The ministers kept the real money for themselves.
Who negotiated this deal? 18 million signing bonus? I could have negotiated a better deal,at least 200 mil..fire the chief negotiator
They are going to escape the people by throwing out a few crumbs at intervals. And the thing is if they continue to not help educate people and drive expanding thecnical skills more young professionals produced and retained so jobs are filled by more Guyanese and reduce depending on foreign skill workers So the economy will be more stable,.And food prices must be more affordable for the low wage earner.
yes the money can get to tge people but not with that vp man
Guyana shud stop race is then good will come
AguayanA is fpn venezuela?
One wonders if bribes were accepted to facilitate a better deal to Exxon. Knowing the history of corruption in Guyana.... hmmm
and US corruption too. It takes two to tango.
@@robinmaha1
But the US government is far more competent than Guyana's.
We in getting shit I telling u i live in guyana
Guyana 🇬🇾 must set up ⬆️ sovereign wealth from day one ☝️ to help develop infrastructure and provide citizens from the poorest lowest possible to most vulnerable citizens 😅😮😢😂 to improve their health lifestyles education from this state of Guyana 🇬🇾 to move forward into tolerable levels and build from the ground up ⬆️ towards sustainable to development into a better future.????.😂😢😮😅.????.???
They will not have any thing ,they still stay suffer, because government only think about them self.
Greetings I...People of Guyana Will Not benefit from the Oil the Leaders is Selling Out! plz watch this Short Documentary Confessions of an Economic Hitman - John Perkins
Yes they will benefit
Guyanese owned and operated EPC/CM/GC based in Canada. www.damaze.ca
Yes, to the CORRUPT PNC electoral fraudsters only.
Will the money fpm eseguibo pil goon get to
Poor people will suffer
B
DAMAZE GROUP: Guyanese Owned and Operated Oil & Gas Development Company. www.damaze.ca
What I want to say is look at Kuwait they are all well off, and I believe this Government is for the people, plus we have an educated populated, and we speak English, so I know we will do good, unlike Venezuela, but I believe the people should not get direct payments ,at all cost ,as people will get lazy ,and will not do the jobs they should do .The government will be able to afford the skilled Guyanese and foreign experts, but all education and health should be free. Now the infrastructure projects to be built in Guyana, is never ending, so we will need every single dollar, including petro chemical projects, and agriculture projects. what about protecting G/T from flooding? That alone will cost billions. plus hundreds of roads bridges, town halls, botanical gardens, yes people have to relax also. Now they will have enough natural Gas to turn the bauxite in to aluminium, as this process needs a lot of energy. Yes the contract could have been better, but think of what we got as preferable what we diden t get. At the end of the day Guyana is not Venezuela or Nigeria. Guyana needs to honour its contract. I know some people would have preferred we explored for oil instead of Exxon mobile, or would they have preferred the Russians ,who of course would do it for free, and give us everything. But of course these people are jackasses to believe that. but some people have brilliant ideas ,such as leaving the oil in the ground, to protect Guyana natural resources, a ha ha.IN fact leave Guyana as a natural paradise as what Norway wants, for Guyana so when the tourist comes they can throw a few coins on the ground for the starving Pinckney to grab and buy food.
Left
The people will be the same regardless who rules Guyana. Nigeria have the best crude oil in the world & yet the people lives in poverty.ExxonMobil was in Peru & contaminated the water, babies borned deformed, & have all sorts of diseases. The host country took ExxonMobil to the world court & ExxonMobil was order by the world court to clean up the environment. ExxonMobil decided to packup thier equipments & leave the country because it is cheaper,than rather to clean the environment.
The thing to give to teachers build houses for poor and low income inguyana mental illness take care 9f health hospital co-operation.
Direct to welfare receipeints
interviewer - get a change of clothes, loose the hat.
suggestion - hire Norway to run the place for a set 10yr period, renewable for another decade of put out to tender (eg. Finland would be another good choice, or Singapore or Israel). Probably after 3 such terms the locals will have been well trained, the infrastructure in place, the culture of straight-running (no baksheesh), other industries up & running, military in place, universities & schools, meritorious driven advancement etc.
The answer is a big fat NO
COnstitution of Guyana 1980 Act no 02 of the co-operative Republic of Guyana 1980
Constitution of America of the United States of America
North Carolina State constitution
Commonwealth of the United Nations.
The Indians will get the benefits not the Africans, DUH!!!!!!!!!!!!!
The Messiah the Gouvernement of Guyana must purchase new air craft fighter jets i want front line fighter jest from Russia US China japan. Uk and it must total 75, 000 fighter jets for my War Angeles GDF. Next i want 4000 submarine that up as of 2006 20011model and ground force combat tanks 12, 000 war tank .. Next misile défense system the best in the world 15 ,000 missile défense system .. aircraft carrière 1000 total its my Hands i am enlighting you of i defening my holy land i am the Messiah the warrior the lion of Judah none else they lie around the world i am he lion that my dovering sword i st Mikaël same me Yashua same me Emmanuel .. Hold rightiouness rightious warrior .. No more of that church only this kind of church the God ok health wealth respect happyness compliance and most of all understanding. I dont care how much éducation yuh one i want all of yuh in this world to know if yuh lacking understanding yuh lacking everthing .. God the money will meet ever Citizen of the Republic of Guyana at my direction from the oil boom industry i being tell most of yuh for many years this is the wealth country on earth yuh were to educated to know what i the Messiah was teaching yuh no dont want that kind of church i only want this kind of church Mighty sword might key the (master key me ) .. And i want from line jest on the four front of my oil pot over looking any jumbi man or woman coming after midnight to steal my oil pot but i The Messiah will place my Angeles over yuh that none else beside me shall come over yuh no jumbie man or woman none by my hads i swear i yuh God shall up hold yuh so yuh enemies shall prevail ovet yuh i shall smile and fire shall comeforth out of my mouth and smoke from my nostreal and yuh will be devour compliance from messiah i seal up the book here. Do it dont beg defend my land purchase it now calateralize the first 6. Month oil production purchase my eagle bird for me purchase my gater for me purchase my sea monster for me invest from the oil boom money it will reach every one of God childrens. Go to heaven will live now wake up and live ok good i will guide yuh ihave being for many but yuh never know but i know some of yuh know in Guyana and outside Guyana i know and i Glad yuh know and i am committed to make the 4 cardinal point know + messiah défense my holy lands love yuh
Absolutely poverty, for the poor Guyanese
Nope.
Aasim Baksh Thank you my good man, I store my pessimism in the dark for years so it can age and have a wonderful taste.
No 👎.
Guyana would never benefits from the soil this Administration mr. David Granger is working with Exxon Mobil they have not made a decent contract since they came in power with Exxon Mobil Exxon Mobil benefit from this oil and Guyana would never benefit our people would never get jobs we as Guyanese we will always be poor mr. David Granger is not making life easier for us in Guyana he does not like Indian and you are only seeing more crime every day in Guyana no development since they came in power
And PPP was in power for 23 years and the country still poor,that's one reason I don't vote only God's kingdom will fix things.
This guy sounds more intelligent than the president of Guyana. Is he running for president or what ?
zoo expert