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First oil: one giant leap for Guyana

Dec 22, 2019 Letters

Dear Editor,

The first barrels of oil are now flowing into the Liza Destiny released after 60 million years buried 3 miles under the seabed.
This momentous occasion is the culmination of a combination of technological, geological and administrative brilliance orchestrated by the world’s premier energy firm in record time and months ahead of schedule.
Even for a giant like ExxonMobil, this is a significant moment as the Guyana Basin will become an important part of its portfolio.
For Guyana it is a giant leap forward – by far, the most significant moment in its pre or post independence history. After centuries of being buffeted by external forces, of its people being enslaved and indentured, Guyana will become the master of its own destiny, with enough revenues to transform its economy and the lives of its small population for generations to come.

Some have complained about the sector, even calling for oil to remain in the ground and the country to get “a small piece” from the countries that are the biggest producers and consumers. Some warn that demand for oil will rapidly diminish in the coming years. It won’t: the world runs on oil and will for decades to come as part of a new energy mix. Oil is the foundation of our economies, our lifestyles. All our activities involve the use of some form of fossil fuel or its by-products, from fuel in the planes we fly in, the paint on our houses, the plastic in our smartphones. For the past 150 years, its incredible efficiency has been the catalyst that has helped lift billions out of poverty, has lit our world and been behind every technological innovation. And it remains a force for good in the world even as we look for sustainable and supplementary alternatives.
But above all, Guyana will be a place for young people to prosper. Many of them get it already: they are educating, training and positioning themselves for careers – not all energy related – but in sectors that will boom in the years to come.
Great things have begun. Today.
Onwards upwards may Guyana ever grow!

Yours sincerely

Albert Russell

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