Guyana’s prospects are looking good and will only get better

Dear Editor,

The potential for Guyana to become a regional leader has been acknowledged by several world leaders, due in large measure to our oil and gas reserves.

The change in the country’s economic fortunes was recognised by several speakers at the recent oil and gas summit held in Guyana.

Yet there are those in our midst who continue to see, as it were, the glass as being half empty rather than half-filled. They continue to harp on the lopsided nature of the oil contracts without taking notice of the fact that the country stands to benefit enormously from the billions of dollars from oil revenues which otherwise would not have been possible.

Only recently at a meeting with Amerindian leaders, Vice-President, Dr. Bharrat Jagdeo spoke of the billions of dollars that will be allocated to Amerindian development as a direct result of the sale of carbon credits. These are substantial developments that will impact positively on the lives of our Indigenous Peoples and the Guyanese people as a whole.

This is not to suggest that we should not seek to get a better deal from our carbon resources. My own view is that the current contract is much too skewed in favour of the oil companies operating, but there is not much to be gained from finding faults and engaging in the blame game.

The important thing now is to look ahead and learn from past mistakes, something which the current PPP/C administration is already doing.

The prospects for Guyana are looking good and will only get better in the coming years. But it requires all Guyanese to exercise patience while remaining vigilant that we do not get the raw end of the stick in future negotiations with the oil companies.

Yours respectfully, Hydar Ally