Introduction
I believe that the most effective way to commence a discussion of the topic headlined above, is for me to provide readers with the basic rationale behind its selection. Simply put, the rationale is that, following on the discovery of commercial quantities of petroleum in Guyana [2015], and five years after the country’s production of its First Oil [2019], the oil and gas sector has already become the dominant and driving generator of the country’s GDP, incomes, consumption, trade, foreign and total investment, wealth, as well as State revenues.
Furthermore, altogether in the country, one finds the weight of the oil and gas sector is already humongous and, indeed, is confidently expected to shape the future political economy of Guyana -widely acknowledged at present as being the newest and fastest growing Petrostate in the Americas [averaging a real GDP growth rate of 50 percent in H1, 2024].
