S3.E14 | How Rich is Guyana? | Our Oil Economy and Our GDP
We calculate Guyana’s Oil Revenue and estimate its impact on GDP based on the projected price of oil at $70 per barrel when ExxonMobil begins production and export in 2020
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HOW come Guyana has become rich but there is muggers and Thiefs at big market snatching phones from one and its dangerous to walk at night that's what I heard in London if that's true that's not cool
All those buildings u have shown were there before oil The Guyanese citizens are not benefiting ExxonMobil n share holders are the crumbs cannot maintain the damages they are doing to this country is Destruction for GUYANA n wealth for the foreigners
DAMAZE GROUP: Guyanese Owned operated EPC http://www.damaze.ca
What percentage of the cost of a barrel of Crude will Guyana be paid by Exxon Mobil?
Yeah u showing this drum beater …..show the road etc
Great job on the stats it's great to see such potential
You people are living s pipe dream.Why is the distribution of wealth would be any different in Guyana?It does not matter what discovery of natural resources Guyana produced,only the powerful will profit from it.All over the world Guyanese are noted for their dishonesty.All these mother fuckers know is stealing .From a roll of toilet paper to hard time.
It’s not Guyana that will be producing crude oil.Guyana will be getting a very small percentage of royalty from the production.Stop misleading the Guyanese people
How much the pnc going to thief
Hope will not be Second Angola and Venezuela
My second home … love from Jamaica
Congrats to Guyana becoming a top Oil Producing Nation on the Global scene. This is major progress for Guyana Economic prosperity with 70. Dlrs per barrell of oil predicted for 2020. Guyana economy will definitely boom and could exceed Suriname a neighbour oil producer.
Guyana cannot receive any kind a big money like this since Exxon will have to first recover their expenses which will take five years or more, the only money is the royalty money .
Guyana must invest in program to teach it Citizens, to Manage and operate Oil industry with intentions to NATIONALIZE the Oil industries in 10-15 yrs. YEAH!!.
SO ITS PEOPLES CSN GAIN ALL THE BENIFIT OF ITS NATIONAL RESOURCE…THAT IS THE BOTTOMLINE!!!
Rafael, some skepticism needs to be injected but it remains to be seen if Guyana will actually see any monies as our "learned" Minister of Natural Resources may have put his foot in his mouth. Consequently, all things considered, we could be on the hook for much more than we bargained. Please allow me to share an article by Melinda Janki who is an International Consultant and was on a panel at Moray House Trust that analyzed the costs associated with the production. View for yourself and invite comments. please click on the link below:
https://youtu.be/5OaJzvQjr2U
I really liked it. 💙
Rafiel you know I Some time drive to Canada, I Cruze between 75 to 95 with my family in the car, but thank god I never had a accident
Can any one imagine,Guyana just have a little over half a million people,and every single day a few people die by road accident ,and government cannot legislate laws or teach,or do some shit to prevent so much people from loosing their life,I think it is a way,or a form of business,for the police and the funeral agency!
Most of the revnue will enrich all the politican in government they are the crooks ppp was the biggest one.
Exxon will pilfer most of the oil proceeds .Guyana will received little or nothing .
Nice message
shut the fuck up .guyana isnt going anywhere under this brainless regime
guyana never progress under the PNC .And it will will .
Love your videos brother, keep them coming.
Darn the roads are really small,Guyana needs a bigger city everything is so squeezed up!
As minister of finance this would be my order of operations. A most dramatic drastic plan to lifting Guyana permanently out of its poverty stricken state. There would be no immediate easing of anything in the first 5 to 7 years. all oil revenues would be directed to paying off Guyana's debt. can you imagine what this short term sacrifice would do to benefit this poverty stricken nation with the elimination of parasitical debilitating interest payments. During the time of this national sacrifice there would be a consensus building approach from all parties involved as to which components of the country's economy would then be prioritized. the following areas would be targeted . Infrastructure – stability and reliability of the power Grid, roads and bridges and sea defense , assistance to preservation of Guyana's traditional economic resources- ( rice, bauxite , sugar, timber, gold mining. fisheries , tourism and the hinterland ) to avoid the curse of oil dependency which has the insidious potential to lay waste to a country's potential.
Next there would be targeted assistance to all social infrastructure like upgrading the pay and professionalism of the police force and a heavy emphasis on education and medical facilities. From this point on the brightest minds should be allowed to continue the expansion and viability of making Guyana truly Great for the first time.
,
Don't count your chicken before the eggs didn't hatch
Why dont u ever go to berbice and film
Didn't know that
I hope go living into Guyana in the start of 2020, enter in the prosperity of the country
hi very nice video ..
1055…like 44…friends..plz back me…joined me…
Guyana has Gold, bauxite etc and its still poor so what would oil do?
lloyd mitchell says
guyana will be producing quite a lot so much that the caricom nations will benefit greatly
the guyanese people emigrate because they dont like the way their leaders spend the money
the private industries build thousands of houses like jagdeo s residence the government builds thousands of
houses on the ground to be washed away .when we talk about global warming these leaders think the heat will
dry up the land.they build white elephants at durban park and ugly hinterland roads or trails.they wont return the sugar industry to private ownership.they wont build proper beaches they think it has to be natural. i leave someone else to continue
congrats you re doing a great job keep it up
Thanks Rapheal for your info on the oil money, and yes its a large amount,but will it be enough to build all those bridges,highways,agriculture projects,houses,dry docks,ships,planes,equiping the army with modern weapons, building a petro chemical industry and also stopping most crime so that the 2 ,3/4 million Guyanese can return home.
https://youtu.be/o1ug-PYqdtY
Share the National Cake!
Hopefully the Guyana government will not get greedy and try to run the oil industry by them selves or follow stupid advice and let people who have no knowledge take over and squander the money. Invest invest. Put money back into the country.
Excellent idea Ralphael, chronicling the effect the coming boom will have on the lives of the common people. Surely the economy will expand. Many outsiders will begin flocking to the country in search of opportunities. Guyana must manage this influx very carefully. The way the country manages these challenges will have a huge impact on the Caribbean region for years to come.
Guyana's small population will limit the number of immigrants who can be accommodated without altering the national identity. However, without more citizens the county's growth will be stunted. To address this the government will need to encourage people to have more children. Perhaps this can be accomplished by paying people to get married and giving couples a bonus for each child they bear.
Furthermore, a national program to populate the western region should be undertaken to establish a substantial Guyanese presence in the territory which Venezuela is claiming. The torrents of cash about to flow into the national treasury should make this easy to accomplish.
Guyana is about to enter a phase where the dreams an aspirations of the visionary leaders of the past will be within reach. This is a critical moment in the life of the nation. Dream big
and insist on leaders with vision or God's gift to Guyana may easily be squandered foolishly.
Good video Raphael.
Hello Raphael. I tend to follow your channel, as I find that you give a balanced view.
Your idea of conducting a longitudinal study is sound, as is your intention of using the current state of Guyana's economy as a baseline. However, as I am sure that you are aware that GDP and especially GDP per Capita tends to be a crude mechanism in relation to measuring the prosperity of a given country. The major factor here is how effectively and fairly the national cake is distributed. There are countries who have a higher income per Capita than Guyana and yet a significant section of their population live in dire poverty of a kind not experienced in Guyana. Our regional neighbour Venezuela is a case in point. Guyana is able as a country to feed itself in terms of basic food. It is impossible to eat oil.
My fear is that oil could prove a curse diverting attention away from Guyana's agricultural reality and potential as occurred in Nigeria. As you suggested it will take time for the wealth to trickle down to the population. The problem is that the 'trickle' might not occur unless a robust mechanism is established to ensure that process. This is a pivotal time for Guyana.
Keep up the good work, I really enjoy your videos even though I have never commented before.