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Guyana in for the long haul with oil

Jul 05, 2017 Letters

Dear Editor,
Fascinating reading the views and assessment of prospective oil wealth in Guyana as seen by the former T. & T. Minister of Energy.  Interesting idea about Guyana not standing a real chance of great wealth expected by extracting oil said to be in its waters. I do not recall seeing mention made of the fact that such exploration and extraction are what economists refer to as “capital intensive”.  To this, add “also labour intensive”, and our poor country is in for a seriously long and tiresome haul.
We will certainly have to depend on rich nations to see our oil and gas ambition realised; or, as one foreign economist and colleague was fond of saying “fructify”.  When my typing colleague and I could not remember his name, we used this word as his name instead, and always hoped there would be no slip of the tongue!  A sense of humour always comes in handy.
Geralda Dennison

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