Guyana and the Wider World

Introduction My previous column focused on two technical terms, rarely mentioned thus far in this column series on Guyana as a Petrostate; namely, the real effective exchange rate, REER, and the exchange rate regime, ERR.

Introduction As indicated at the outset of the present series of columns, outlined in my October 27 2024 column, starting today I engage the third of the five topics listed therein; namely, Guyana’s macroeconomy and the policies needed to promote, ensure, as well as sustain both internal and external balance.

Introduction This is a concluding or wrap-up column. It adopts an eclectic catch all approach to   the items covered but is devoted to the topic of petroleum resources and reserves, which was introduced to my Sunday Stabroek series four weeks ago.

Introduction When ExxonMobil and partners announced their first discovery in May 2015, this was preceded by 45 unsuccessful wells drilled over five decades.

Introduction In today’s column, I start with a very brief summary of Rystad Energy’s recent global data on   petroleum reserves self-generated by the firm, based on its own reporting of the firm’s independent estimation of global holdings of petroleum reserves.

Introduction Last week’s column wrapped-up a four-column series on the ruling Stabroek PSA [backward looking] and the new Model PSA and its Public Modalities [forward looking].

Introduction This is the wrap-up column treating with a retrospective and prospective reflection and review of the ruling Stabroek PSA and its Model PSA variant arising from the recent public auctions.

Introduction Last week’s column ended with a pointed reference to there being several concrete examples of governance issues and reforms recently set in motion and designed to make the Stabroek PSA operate in a more effective manner.

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.

Introduction Last week’s column asserted that, National Budget 2024 did confirm Guyana’s key macro and micro economic performance indicators support the notion of a robust consolidation of its newly acquired status as the newest and fastest growing Petrostate in the Americas.

Introduction Today’s column advances several additional insights into the ongoing National Budget 2024 appraisal of the macro and micro-economic foundations of Guyana, now generally classed as the Americas’ fastest rising Petrostate.

Introduction As indicated last week, today’s column closely reports the findings in Budget 2024 regarding Items 2 to 6 listed therein.

Introduction Last week’s column displayed, in brief, the crucial macroeconomic foundations to my assertion that, recently, Guyana has become the newest Petrostate in the Americas.

Introduction Regular  readers would recall that I used national budget 2023 to portray Guyana’s macro-economic and micro-economic foundations as satisfying the standard definitional prerequisites for a nation designated to be a Petrostate.

Introduction Today’s column closes off my re-visit of the Buxton Proposal, which I started in Q3 2023.

Introduction As titled, today’s column sums up my efforts since January 28 to assess the sustainability of Guyana’s oil and gas explosive growth.

Introduction Today’s column concludes the discussion on the fourth and final modeled driver and its metrics, which I believe undergirds any serious appraisal of the viability or affordability of a Guyana Universal Basic Income, UBI, mechanism, the Buxton Proposal.

Introduction This week’s column addresses the fourth and final driver along with its modeled metrics; namely, operational cost of oil production share ratios in Guyana.

Introduction Today’s column offers a wrap-up of the ABCs of hydrocarbons taxation, which I introduced in last week’s column.

Introduction Today’s column considers the third modeled driver and metrics related to the affordability of the Buxton Proposal; Government Take or the average effective tax rate, AETR, yielded by the Production Sharing Agreement (PSA) regime governing Guyana’s oil exploration, development and production.