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Editor-In-Chief
Nigel Williams Editor
Godfrey Wray
Editorial: 227-5216; 227-5204 guyanachronicle.com wnigel10@hotmail.com gnnleditorial@gmail.com
Editorial
The U.S. presidential election WITH the United States (U.S.) presidential election a mere month away, support for Democratic presidential candidate Hillary Rodham Clinton is pouring in from all quarters and most notably, some unlikely ones. This is not the normal election for many reasons, among which is the Republican candidate Donald Trump and what he represents in the eyes of the public, the U.S., and farther afield. There is concern and real fear of a Trump presidency and what it will mean for country and international relations. The Washington Post Editorial (30th September) in its critical analysis of the candidate titled the ‘The clear and present danger of Donald Trump,’ warns that “It would be reckless not to consider the damage Mr Trump might wreak. Some of that damage would ensue more from who he is than what he does. His racism and disparagement of women could empower extremists who are now on the margins of American politics, while his lies and conspiracy theories could legitimise discourse that until now has been relegated to the fringe. But his scope for action should not be underestimated, either.” The interest attached to this election has also seen external governments and influential figures making known their view(s) on the candidates and preferred choice to hold the world’s most powerful office, and that candidate is not Trump. International allies were never this forward in U.S. domestic politics. An exception to this however is Russian President Vladimir Putin, who is playing a politics in U.S. affairs that has the semblance of Cold War influencing and positioning, though it is fair to say his opinion was sought by a member of the U.S. media on the candidates. In the case of Trump, the U.S. society seems welcoming to have the support of external forces, including heads of government warning against his presidency. Canada’s Prime Minister Justin Trudeau in his address to the United Nations (UN) General Assembly, subtly made known his discomfort, citing an approach to immigration policy touted by Trump, even though his name was not called. President Barack Obama has also been using the global stage to influence thinking in a similar direction. In addressing the UN Refugees and Migrants Summit, he expressed displeasure with treating with the crisis and immigration by building “walls.” This is a clear reference to Trump’s campaign pledge to build a wall on the U.S./Mexican border, and an aspect of his immigration policy. The U.S. newspapers have historically played a role in endorsing candidates, and it is something candidates and their campaigns look forward to during the political hustings, conscious of the influence and scope of the media. In this area there has been occurring from unlikely quarters, support being thrown behind Clinton. The Arizona Republic Editorial Board (27th September) which has always endorsed Republican candidates broke from tradition to endorse Clinton, calling her “the only choice to move America forward.” The
GUYANA CHRONICLE FRIDAY, OCTOBER 7, 2016
Gov’t of Guyana proactively preparing for oil production Dear Editor THE Ministry of Natural Resources has noted the perspectives and opinions expressed by members of the public on how the country should be preparing for the oil and gas sector. The ministry welcomes healthy discourse and remains committed to continuing these conversations in an inclusive and consultative manner. However, we also recognise that there is need for accurate information and wish to take this opportunity to provide such and also remind the public of the progress being made by the ministry in preparing the nation for oil production. International financial experts have assured that despite current market trends, Guyana will benefit when production commences, provided that the operations of the well perform as projected. They have also assured that no international company will sanction a project if the break-even price is higher than its forecast, noting that large oil companies are especially well known for having very low price-forecasts before they pour their resources into a project. Further, the experts have assured that despite the push for renewable sources of energy, oil demand – now at 94.1 million barrels per day worldwide – is still very high and growing. We also ask that the following points from the 2015 OPEC World Oil Outlook (WOO) be considered - Global energy demand is set to increase by almost 50% in the period to 2040, with the overall energy mix continuing to be led by fossil fuels at almost 78%. Combined, oil and gas are expected to supply around 53% of the global energy demand by 2040. Medium-term oil demand is revised upward, compared to the WOO 2014, rising above 97 million barrels a day (mb/d) by 2020; Oil demand is projected to be at 110 mb/d by 2040. While we recognise that the oil industry is fraught with uncertainty, we do believe that industry experts’ projections can serve as a guide as to where the industry is headed over the medium and long term. In Guyana’s case, while there are many
variables that may affect production and the revenue that the country might earn through production-sharing, taxes and other arrangements, we would be doing ourselves a disservice if we do not do everything possible well in advance to prepare for oil and gas production. To this end, the Government of Guyana, led by the Ministry of Natural Resources is in an accelerated process of development and capacity-building to prepare for this new economic reality. The approach has included building and reinforcing legislative, financial and institutional capacities, drafting plans for the short, medium and long term, as well as developing a robust communications strategy to keep all stakeholders informed of developments. Permit us to share some of our achievements to date. 1. Technical Support The Government of Guyana will soon be signing an MOU with the Government of Trinidad and Tobago for technical support and cooperation in the area of oil and gas. There is also a visit scheduled to Trinidad and Tobago to further the cooperation with a view to preparing Guyana for the oil and gas industry. This cooperation includes exchange visits between the two Caribbean countries and the offering of scholarships. Scholarship opportunities are also being pursued through several engagements with the Mexican Petroleum Institute (IMP), while support in capacity-building was received from the University of Calgary and the Government of Canada for the development of a Sovereign Wealth Fund. The United Nations Development Programme (UNDP) has also provided support to bring regional and international experts together for discussions and knowledge-sharing. 2. Development of a legislative framework With the support of external expertise, the ministry is actively working on creating a Local Content Policy to guide participation of local services and skills in the sector. The Government of Guyana is also
receiving support from the Commonwealth to prepare legislation for the oil and gas sector. In the coming months, the Minister of Natural Resources is expected to table eight pieces of legislation -- all connected to the oil and gas sector -- and which are necessary for the establishment and strengthening of the regulatory and fiscal policy frameworks. 3. Financial Management Members of the sub-committee of Oil and Gas in Cabinet last week met with members of the Bank of Montreal (BMO) upon the bank’s invitation. The Canadian banking institution, which specialises in the natural resources sector, discussed financial investments, sovereign wealth funds, pitfalls to avoid, and managing risk and uncertainty in the industry. That two-day engagement ended on September 29, 2016. In addition, Guyana is receiving support from the United States Government in terms of governance through the Energy Governance and Capacity Initiative (EGCI). This is intended to build capacity to responsibly manage oil and gas revenues. 4. Transparency The Ministry of Natural Resources is taking the lead in ensuring that Guyana signs on to the Extractive Industries Transparency Initiative (EITI) with a view to ensuring that there is transparency in the sector when the revenues from oil are received, as well as that of other extractive sectors. While some processes require more time than others before tangible benefits are seen, the Government of Guyana through the Ministry of Natural Resources remains committed to the task of advancing efforts to explore Guyana’s oil-and-gas potential for the benefit of all Guyanese. We remain responsive to requests for information and invite the public to reach out to us. Regards N. Johann Earle Public Affairs and Communications Officer Ministry of Natural Resources
Coalition should never have allowed PPP to upbraid them Dear Editor
THE coalition government should have never put itself in the position where the PPP/C has to upbraid them for not appointing constitutional bodies. When
in Opposition, the parties in the APNU+AFC were part of the group, along with the trade union community, that called for the PPP/C government to appoint these commissions, respect rights and uphold the rule of law. The differentiating
USA Today which has never endorsed a candidate came out against Trump, in an editorial (30th September) declaring him “unfit for the presidency.” The New York Times on 1st October ran an incisive story on Trump’s taxes, making known that he has paid no federal taxes for almost two decades. Trump’s campaign has reacted by accusing the media of acquiring the document illegally, though Trump’s sue-sensitive disposition has not seen him threatening to sue. It should be
lines between an APNU+AFC government and PPP/C government are blurring. If it was wrong then it cannot be right now. Governments that ignore citizens’ response to certain behaviours, or the negative response to other governments,
said however, that Trump’s non-payment of federal taxes is not illegal, but mere capitalising on what is called the “loopholes” in the tax system to avoid paying. What it raises however is the question of morality and a system that will allow the rich to escape, but holds the poor accountable, which the public seems incensed about. The concern with a Trump presidency is multifaceted. It ranges from his paucity of knowledge on critical issues such as governance, policies,
displaying similar attitudes or similar behaviour, are likely to suffer the same fate. Is this regime courting such a destiny, wittingly or unwittingly? Regards Lincoln Lewis
and global issues to his outlook on ethnic relations, terrorism, and immigration, to that of reliance on attacking the person not the issue, positions he seems comfortable retaining. And where the media, to some extent facilitated a campaign that opted more for optics, dumbing down and reality-type politics given the ratings and sales it has attracted, now the proverbial genie has escaped the bottle and the election draws nigh, concern as to the possibility is hitting home.