In the present series of columns I had introduced oil and natural gas exploration and development as the first upside potential/achievement for consideration. This upside potential meets the criteria and features, which I had argued as minimally necessary to qualify for this particular determination. It is important to recognize that, in my view, oil/natural gas is treated as an upside potential despite previous unsuccessful efforts to promote its commercial production. There are several examples of failed land and off-shore exploration efforts, including those of well-known companies such as the US-based Hunt Oil Company (a land-based effort) and the French-based Company, Total (an offshore-based effort).
The upside potential of commercial oil/natural gas production needs to be located in the broader context of efforts to develop sustainable energy supplies for Guyana. From this perspective, exploration of oil and natural gas should therefore,