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“Drill Baby Drill”
Dear Editor,
It is clear from your headline, “In the Absence of Nationwide Consultation, Jagdeo single-handedly dictates Guyana’s Depletion Policy to be Drill Baby Drill,” you did not understood the explanation Dr. Jagdeo provided Glenn Lall during an interview a couple of weeks ago (on Kaieteur Radio) about depletion rates and you stubbornly refuse to accept what is going on in the world outside of Guyana.
Global warming is a reality and serious measures are being taken to reduce and eventually eliminate the production of Greenhouse gases, namely Carbon Dioxide (CO2).
The main source of CO2 is the burning of fossil fuel which comes from the stuff Guyana has recently discovered in significant quantities off shore.
Solar, wind and other sources of renewable energy are now becoming widely used around the globe and several countries have pledged to phase out the internal combustion engine so as to curb CO2 production to ensure they meet and adhere to agreed upon CO2 emission limits.
There is also carbon tax, cap and trade and other levies (that are already being imposed on oil producing and oil consuming countries) and will be coming to Guyana and the rest of the world in the not-too-distant future. These taxes and levies are intended to discourage oil consumption/production and encourage the use of alternative and renewable sources of energy.
These are facts Dr. Jagdeo went to great lengths to explain and simplify but Glenn Lall’s incredulous response was: “I understand but I do not agree.”
His failure to recognize and accept what is happening in the world around him blinds him to the fact that the burning of fossil fuels has become unacceptable and intolerable.
Dr. Jagdeo is no fool and his reasoning is sound. He is well versed in what is happening around the world and is trying to ensure Guyana does not lose out during that limited window of opportunity that exists for it to extract as much wealth as possible for the benefit of its people and their future. He is not grandstanding, nor is he being reckless. He has his country’s best interest at heart.
In the industrialized world today, the race is on to develop better storage batteries, more efficient solar panels and improved energy efficiency in every machine, appliance and gadget known to man.
We have great examples where decreased demand and lower prices devastated the sugar and bauxite industries in Guyana. Is it not clear to see this will also happen to Oil?
Failure to learn from the past ensures those mistakes will be repeated.
Dennis Balgobin
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