Latest update January 17th, 2025 6:30 AM
Poor leadership can leave oil rich countries hungry- UK expert notes
“The decisions politicians make now will have ramifications for children who are not yet born in Guyana; and that is a serious responsibility.”- Dr. Perry Stanislas
While there are countries around the world that have made good use of the money generated from
UK expert, Dr. Perry Stanislas
oil, and secured development as a result; there are those countries that have ended up worse off with oil. That is why many speak of oil as having the ability to be a blessing or a curse.
United Kingdom (UK) security expert and university lecturer, Dr. Perry Stanislas, says that whether oil will be a blessing or a curse is to be decided by leaders of the various oil producing countries.
He said this at a recent oil and gas symposium hosted by the Caribbean Institute of Forensic Accounting (CIFA) in collaboration with the Guyana Oil and Gas Association (GOGA).
Dr. Stanislas’s presentation touched on various issues. But the core point that he tried to get across is that the fates of countries are simply in the hands of its leaders. That is why he thinks that it is imperative for a people to demand the best from their leaders.
Dr. Stanislas said, “The importance of quality leadership is the alpha and omega.” He said that the core skills of management can be applied to any economic enterprise and the oil industry is just one.
The facilitator pointed out that “the decisions politicians make now will have ramifications for children who are not yet born in Guyana; and that is a serious responsibility.”
“If they get it right now the names of these government ministers will forever live on as great leaders of this country and that’s a wonderful place to be but mess up and your name will be cursed forever,” said Dr. Stanislas.
The expert said that the story of oil in most developing countries is a sad one.
Norway is often referred to as the goal point for oil producing countries. Dr. Stanislas said that from the very beginning, Norway decided it wanted a corrupt free oil industry.
“From 1966 before (the Norwegians) even began drilling they took a clear position that they wanted to have a professional and corrupt free industry.” He said that the Norwegians have good vision in that regard. The country developed its people. He said that just 15 years later the result was that Norway developed some of the best financial and legal professionals. “They have some of the best people in the business.”
Dr. Stanislas said that oil production provides opportunities to transform key governmental institutions agencies and organizations. But he said that that good outcome only results from good management. “So there is a big if and we know that the majority of the countries in the developing world that have oil are in a mess.”
Dr. Stanislas queried, “Why Sub-Saharan Africa is the richest piece of real estate in the world and the majority of people there are hungry? Why?” He concluded that it is because the resources have not been managed correctly.
The UK lecturer said that Guyana has an opportunity to do differently because the end is quite clear what will happen ‘if you follow the same path.’
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