If they don't manage it properly, 50% of revenue will go to a few number of rich people in Guyana, 40% will go to US oil company less than 10% will benefit people in Guyana.
only if you are in charge. The government has already doled out large sums of money to every households, every pensioner, civil servant, putting many who never worked before to work...wake up...accept what we are doing as good.
@@praktam você é da Guiana? Se sim me marca aqui e me responde ... o que o governo tem feito ai pela população, infelizmente aqui no Brasil não tem chegado muita informação dai, e como a Guiana está se preparando pra ligar como o caso da possível invasão da Venezuela? Nesse caso de invasão como brasileiro fico preocupado com vocês.
Guyana is an English speaking country on the same time as the east coast US for most of the year and as close to New York as California is. It could potentially be a Dubai-type place that is relatively wealthy and attractive to expats if the government would put the right incentives in place. Give people a reason to move themselves and their businesses there.
Unless the government takes care of their current population they are just going to create another banana republic. Given the track record of Guyana we will see a ruling class move to Miami and a lower class deal with inflation and few opportunities. But I'm sure for expats this will be the perfect environment more chances for them to find children to date.
Dubai isn't really the model you want to follow. Norway is the model you want to follow. Texas is another model to emulate. You don't want to turn the country into a tourist, ex-pat, digital nomad resort. The masses of the people will remain poor if the land is bought up by wealthy foreigners. Inflation will increase while incomes will remain flat. I'm American and say this as a warning. Money is rapacious. You have to use the short-term oil money to educate the people and raise the overall skill levels while diversifying the economy.
For Guyana to properly succeed it needs strong and independent institutions, create investments in infrastructure, education and savings for future projects. South America sadly does not have the best record of resources been properly distributed and invented in the nation's themselves
My impression is, from all I know about latin America, this very belief is pretty much the major issue. What probably would benefit Guiana the most is just distribute the income among all citzens. Unfortunately the best ideas and most well intentioned projects that concentrate the money and power to produce a better outcome for everyone has simply never worked.
@@ayadhyist The main spoken language is creole, predominantly english, but mixed with elements of other roots. Widely irrelevant information, as your whole comment. Yes, the information comming from my experience in latin America is what I use to understand ALL countries in analogous geopolitical situation, the fact that some form of local creolle is spoken in so many countries in the region basically changes nothing in this level of analysis.
The oil is in the Guyana but the money will go to the US... Instead of focusing on exporting natural resources the only way for development to occur is by focusing on self sufficiency for food and technology... Just look at the historical record
You do know why Exxon is going to take most of the money right? Drilling offshore is not a simple task and requires expertise. I hate when say stuff like this the USA is just exploiting other countries. If Guyana had the ability to extract the oil by themselves then they would do it by themselves.
@@CTguy203obviously they cannot they haven't spent the last century exploiting the world for profits they are a former colony. The main point is that this venture is a private investment and the public is going to bare the cost with no profits.
Actually, when it comes to America,the record shows that American Rev share in energy can be a good thing for small populations. Examples in Alaska for oil and Wyoming for coal shows it. The problem isn't companies like Exxon, the problem are corrupt local governments that mismanage the revenue and governments who think they can do it on their own. Venezuela is a clear example as is Mexico.
@@casualsuede are the corrupt governments usually playing ball with the big oil companies or not? It's funny because these corrupt governments are usually put in power by the corporate interests 😉
Hopefully it will go well for Guyana and they properly study Dutch decease and the Rise and Fall of Nauru. And make deals with oil companies that require them to pay for drilling not just pump the oil and give guyana a cut.
Unfortunately the government is super corrupt. Vice did a whole documentary in which they managed to get an audience with the Vice President in order to solicit bribes.
Brazil has the cleanest energy of the World. 82% of our energy is renewable. If the planet needs to reduce polution, it must be on USA, Europe and China, wich the structure of economy is destroying the atmosphere. South american countries have the right to explore their oun resources, as well rich countries have done over the decades.
I spent part of my childhood in a then untouched area of the upper Amazon in Ecuador in the 1950s. It's pretty much destroyed now by Big Oil and government greed.
You can’t only blame big oil and the government. As a Native NYer of German and Ecuadorian ancestry. I have been living down here since 2015. Some local leaders of different indigenous tribes sell out for hard American money or some for the benefits that some oil companies provide to certain towns near were they drill for petroleum.
There's nothing wrong with big oil. It's the corruption that ruins places. Fossil fuels are cheap, reliable, and easily accessible forms of energy that has increased human quality of life worldwide.
Guyana needs to go the way of Norway. Look at what they did. Well managed sovereign oil fund. The world will still need plastics, fertilizer, lubricants, man made fabrics and more. Do the process engineering to make these things, that makes lots of jobs and creates a lot of business activity.
Germany shut down their 100% clean nuclear power plants to import nuclear energy from France and are saying to the rest of the world what they should do ?😂
I would like to thank DW News Management for this information. We need to learn from what is happening in other parts of the world. This documentary is very interesting. 👍
South America definitely should start utilizing its oil and gas resources for ita own good and development. If it don't, hungry and greedy Americans and Europeans will do it without leaving anything behind as they have done in the past with other resources.
I think off shore drilling is fine as long as it is done well and does not leak and it provides good paying jobs for the local community as well as fuel and opportunity. I am against governments subsidizing this activity though. In a wet and mountainous place like Guyana, I would think that hydro dams would be a good source for clean and reliable power. Solar is a good backup and wind can help too. Perhaps there is also magma they could also utilize...
Excellent presentation DW. thank You once again. What a paradoxical world we live in!!! Its hard to have much faith in the rationality of our species. Power and money. that is the basis of how we are governed.
Petro economies countries apparently dont learn the lesson. People are freaking out and happy now. Just wait a decade. I just know that in 20 or 30 years in the future Guyana will be even more poorer than before they struck oil.
good for guyana. hopefully they'll get rich like north american and europeans did exploring their natural resources and industrializing. as for global warming, tell china and the usa and russia to get their s--t together. they are responsible for about half of all the world carbon emissions. india + germany another 9% or so. when they reduce that 5 fold we can start talking about south american emissions. till then, either pay well for developing countries not to explore their resources or mind your own business while guyana try to catch up with economies that already got mega rich exploring theirs
you have wrongly identified the Foz do Amazonas oil region, also know as a “basin”, minute 7’11 in the video. The basin takes its name from the mouth of the river Amazonas, but it is not the same thing as it. The actual drilling sides are hundreds of miles from the river or the coast. Big miss for such a network as DW (hope not in bad faith)
Exactly, I was going to state that, but I think they know that but prefer show wrong data in order to seems more appealing The new Brazil’s exploration will be on the ocean at a similar position to Guyana's exploitation.
They also lied when they talked about the droughts. The droughts in Brazil (and the rest of Latam countries like Argentina and Uruguay) aren't a result of global warming and oil extraction, but rather because of the La Niña phenomenon which occurs once every two to seven years. They purposely tell these small lies to fit their narrative.
Everyone who was recently transported in a vehicle powered in some way by fossil fuel, please raise your hand. Meanwhile, Germany .. shuts down its nuclear reactors.
Now Venezuela claiming the Essequibo area back to them , of course it’s very rich in oil Guyana is still very underdeveloped I hope the whole country becomes a beacon of development in this side of the world
It is not true that it is now, they have been in talks since 1966 to reach a peaceful agreement, it was Guyana who skipped the agreements to negotiate with the multinationals. Venezuela's claim is legitimate, but pro-western media like DW will not tell you the whole story, there is a lot of money involved and not exactly to benefit the average Guyanese citizen.
The “fact” that Offshore oil rigs keep costs low because it’s easier to access is BS. Offshore oil drillings are way more expensive than onshore projects, that’s why offshore projects are being paused every time the crude price drops, as they are not profitable at low prices.
Super well said by Colombia's president. Even though I worry about some of his alt left inclinations, he is impressive in doing what so few are brave enough to do and turning his back on profit and consumerism in order to move society away from its devastating effects on climate, environment, the quality of governance, and society!
I wish people would stop talking about resource extraction as being the problem. The solution is to focus on the demand side, not the supply side. Through a combination of change in consumption patterns and new technologies, such as electric vehicles and green steel demand will come down and fossil fuel extraction will naturally decline as a consequence. I think that rallying against mega projects is a copout for people who want to focus on anything except their own consumption behaviour as being the problem.
Venezuelan here. Through all my childhood we were told that Guyana Wass ours. Our official school books had maps were Guyana was a "disputed" territory that we would take back. I and all my generation thought that Guyana was an empty territory, nobody living there. Now with the Castro Cuban puppet goverment in Venezuela sabotaging the oil production for more than 20 years big oil companies have moved next door to Guyana. And surprise surprise I find out that there his people there. A lot of descendants from India and Africa. Guyana its a really small and empoviirished country, it's obvious that there was nothing going on there still the advance of the mega world wide oil firms. Good lock guyananss on this oil boom, save as much as you can beacuse in 20 or 30 years you will be down and out as usual.
@@DavidVillalba17 Y tu te sigues creyendo ese M_jon? LOL Mientras compañías extraen petroleo y ni un centavo le llega al estado venezolano. En disputa? LOL Por favor que incredulidad...
I think countries like Colombia should be looking at alternatives to oil for energy exports. Perhaps biomass or green hydrogen. If they have compelling costs I am sure there would be ready buyers.
We would love to gain access and scrutinise the various oil pumping contracts. We are well aware of the exploitative contracts transmitted by Totale especially...
Solar energy is the world cheapest form of energy production. Everything is going electric. Electric cars, electric trucks, electric buses, electric trains, electric bicycles are all growing in sales and market share.
Not even close. Solar and wind is expensive to produce. Don't be fooled by the electric movement funded by international bankers. The world needs more oil and fossil fuels -- cheap, reliable, accessible. Unless you are ok with children and poor people in cobalt and lithium mines who slave away to deliver these minerals for electric vehicles. Electric vehicles are actually no better for the environment than a gas-powered vehicle.
China is the world largest investor of business not only in Guyana, but also in Latin America, Asia, and Africa, Petroleum is in high demand in China and India. Chinas demand for oil is increasing at a rate of 1 million barrels a year, while India is increasing at 500,000 barrels.
Guyana stay from ExxonMobil & Co. Venezuela broke away and they have been punished by American Imperialist. Guyana only as estimiated 10 Billion barrels in reserves
the best way to avoid climate change is to change our consumption habits. I for instance never turn the lights on in my block, I use the pocket light of the phone. It is much less lighting and used only during the seconds I need it, so I think it's less damaging as less electricity was needed.
As a Guyanese, the biggest problem Guyana faces is the extractive economic policies of large western corporations. They literally are draining countries of their wealth and resources.
@@Jaannapolska collaborative partnerships rather than extractive ones is how a country should go about benefiting from its resources, while using the time to build up its own capacity. The oil contract that Guyana is operating on currently is extremely one sided in favor of Exxon and that was clearly noted by experts in the international fossil fuel industry. So it’s not a question of “if they can do it themselves,” it’s about not getting robbed of their own resources by the parasitic likes of Exxon, Chevron, etc
Who amongst you thinks DW should make a docu about Norway's outstanding oil industry and why it's evil that Norway is increasing production as they're doing now?
Guiana has few population, mostly living in poverty. A big extraction project could bring thousand of jobs, improving on the infrastructure, and billions on taxes that might permit the government the creation of a public health system , pension system, etc.
Crunch time for those in the depleting oil industry Highly recommend watching Podcast with Petroleum geologist Arthur Berman and Minerals Metals Professor Simon Michaux Who have over 20 years of research have helpful graphs to explain this Energy Blindness
@DizzyMakavelli typical ameri an dont anything about the world. Guyana is part of carciom, they are considered caribbean, they have nothing on common with South America rather than sharing a border
It’s worth noting that Ecuador and Colombia have left wing regimes who are into the degrowth movement. This doesn’t make for a trend, in that one election can drastically change either nation’s energy development strategy.
Guyana needs to keep an eye on its neighbor Venezuela, which it also wants to help with this prosperity they talk about. They probably want to give them multiple hands that the Guyanese ppl won’t be able to resist lol.
Why is always Dubai mentioned as if there was no inequality, every single person there lives a luxiurious life? I wish this part of the world had Norway as its role model...
There is no way solar panels and propellers can provide enough electricity to charge electric cars. There must be diesel and natural gas generators to make electricity.
Nuclear just took a hit when the company that is doing the first modular small nuclear plant could not move forward with the project after nearly a decade.
2/3 of Guyana's territory is claimed by Venezuela. Anyhow, international companies weren't going to work with the Venezuelan government anyway, who has favored control over production since the mid 1970's. The only way to extract as much oil as possible from that region was to limit Venezuela's claim over that land.
I can assure you that the “ambientalist” Espinoza voted for Lasso and then Noboa. He opposed oil extraction but doesn’t understand the fact that Ecuador depends highly on those revenues to build the infrastructure needed to avoid contamination. Also by voting for Noboa or Lasso he is giving them green light to continue Evading taxes that are latams maine reason of inequality- Such hypocrisy and such ignorant
Every place wants to be like Dubai Till they see Dubai and discover it is impossible to be like that Great country Dubai is away above all other countries
@@stevendefehr4393 we are against use of oil and gas as a FUEL.EVEN in petrochemical plants harmful gases are sent into air from smokestacks.low carbon dioxide footprints,low sulphur dioxide emissions which can curb acid rain.that is the key we want a technology to reduce carbon footprints..
Let the trickle-down effect get to the citizens through social welfare programs and the development of infrastructure that will meet the growing population needs.
Petro oil is boon for human being.. ICE car will be forever. EV is B.S. unless all the electricity is generated by renewables, which will be just a part of total electricity..
You will see oil nuclear also heat related tech even hydro solar and wind will be replace by alternative energy source. Freight train inertia addiction to oil gas nuclear hydro is very huge but exist physics and ecological incentive to change. Scientific dogmatism force of habit also prevalent but slowly slowly you must show that Freight train inertia addiction to oil leads to very big disasters.
Tourism ?? LMAO. Colombia is a stunning country that deserves to have more tourists . But even apart from energy policies, this new president’s regime is seemingly doing **everything** it can to move the country to be more like Venezuela, DPRK, PRC, Cuba. Not exactly an winning recipe for attracting foreigners and their trust/money.
It's not possible. We don't scare Venezuela, because we have support from the rest of the world. Maduro is a dictator and he will end up like Saddam Hussein. Guyana don't have any thing lost.
Balneário Camboriú não tem nada a ver com Dubai. Balneário Camboriú é a capital brasileira da lavagem de dinheiro, seu mercado imobiliário gira em torno da lavagem de corrupção, sonegação, contrabando de armas, tráfico de drogas, fraudes financeiras etc.. Está mais para Panamá City, uma cidade também com prédios altos e que lava dinheiro dos cartéis mexicanos e colombianos.
