Today’s column starts with an offering of a few concluding comments on the topic considered over recent weeks: local content requirements/policies (LCRs) in the petroleum industry, as Guyana prepares for its own industry, scheduled to come on-stream post-2020. After that I shall revisit the related topic of stranded assets. This was introduced in last year’s Christmas Day (December 25, 2016) column. And, today’s presentation posits that the risks posed by stranded assets in the petroleum sector, substantially apply to the sector’s LCR-related industries.
As repeatedly observed, it would be in serious error for anyone to doubt that LCRs are highly contentious. Serious analysts (including mainstream economic theory) along with several major international institutions view LCR