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We must ensure the oil wealth is not hogged by ruling politicians
Dear Editor,
With the recent discovery of vast amounts of oil off our shores, Guyana is poised to quadruple the little wealth she has so far. She is already blessed with numerous natural resources such as gold (a Jamaican once asked me why Guyana is poor and she has so much gold) bauxite, manganese… you name it, we have it. We have such a small population and so much of fertile land. We have a variety of fruits and fish that islanders only dream of. And yet, as one popular radio personality in Jamaica once remarked at the beginning of his program when Guyana’s currency was devalued at 190:1 US, “Guyana has all the natural resources a country could wish for, and yet, she is one of the poorest countries BECAUSE OF POLITICAL DIVISION.”
I had always thought, with all the natural resources with which we are blessed, it is only fair that nature has seen it fit to omit oil from the list. With companies doing exploratory drilling off the Corentyne, up the Berbice River and coming up dry, there was no surprise there. However, I always wondered why they were never drilling in the Demerara and Essequibo areas. As a layman, I would think it is more likely we might find some oil if we looked in these locations since Venezuela’s oil is in the eastern part near our border, and Trinidad’s oil is to the south east, close to us again. Common sense would indicate Essequibo or Demerara is the place to drill. No surprise that they struck gobs of black gold as soon as a well was sunk in this area.
But, I do digress. Now to the meat of the matter. This government has wisely approached this new means of income with caution, keeping in mind the pitfalls of many other countries that came into sudden oil wealth but are still poor. We need to think outside the box and implement safeguards in two areas. Keep in mind that with sudden wealth comes the potential for corruption. We need to ensure that we extract from the oil companies the maximum deal and ensure we are aware of every cup of oil these companies extract.
No doubt these are reputable oil companies but after all, they are in for a profit. If there is a way of gaining more for less they’ll take it. Second, we need a system which will ensure the oil revenue is not pillaged by local officials regardless of which government is in power. One of our downfalls in this country is that we have allowed politics and politicians to separate us into camps; forcing many of us to turn a blind eye on corruption when it is done by members of “our” party. We need an independent body led by reputable and honest Guyanese who have the country’s welfare at heart. We can all name quite a few of these people who will ensure that the funds are not pillaged or mismanaged.
If this new-found wealth is used correctly I see a Guyana that completes its hydro project to provide low cost electricity. I see a Guyana with a renewed water system where people on the coast no longer have to depend on overhead tanks. With as flat a coast as we have, water should be piped comfortably to our homes. I see a larger network of roadways and larger housing schemes taking up land formerly occupied by sugar cane fields. (Let’s face it; contrary to the sentiments to the contrary spouted by certain troublemakers, the sugar industry, as we knew it, is dead due to lack of demand for sugar in the world). Even with the expected influx of returning Guyanese and expected immigrants from the Caribbean (a reversal of immigration patterns in the past three decades), there will be enough room for everyone.
However, the oil wealth must not distract us from the fact that we need to invest heavily in agriculture. We should avoid the mistake of depending on oil alone, a mistake made by other nations. Agriculture should be mechanized and done on a larger scale. However, like the Europeans and Japanese, we should shun the genetically modified crops and concentrate on organic products only. There will be considerable pressure from the U.S. to go GMO but it is to our benefit to resist it. The bottom line is, we as a people, have to ensure we are not manipulated by the politicians and to make sure this new wealth is used to improve the living conditions of every single Guyanese, regardless of race, social standing or location.
Nathaniel Hinckson
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