Dear Editor,
Suriname’s recent announcement that all 600,000 of its citizens will share in the benefits of a $10 billion oil discovery is a breath of fresh air. It’s a bold commitment that says, “This wealth belongs to all of us.” Contrast that with Guyana, where a proposed one-time $100,000 Guyanese dollar grant (about $464 USD) to each of its 800,000 citizens has sparked debates. Sure, it sounds good upfront, but is it enough? And what happens when the money runs out?
Suriname’s approach offers a chance to do something bigger—like creating a Royalties for Everyone program. Imagine this: a portion of the oil revenue goes directly into the pockets of citizens every year, say around $750 each. At the same time, part of it is invested in schools, hospitals, and community projects. Another chunk could be saved for future generations, ensuring the oil wealth doesn’t just disappear when the wells run dry.
This kind of balanced strategy would mean immediate help for families while also building a foundation for long-term growth. Guyana could do something similar, instead of just handing out a one-off payment. Direct royalties combined with smart investments could change the game for both countries. The decisions made now will determine whether this oil boom creates lasting prosperity or just a fleeting moment of good fortune. Suriname and Guyana have a rare chance to set an example for the world. Let’s hope they use it wisely.
Sincerely,
Keith Bernard
