Demerara_Guy posted:Should he eventually be removed by the Venezuelans, it is still unlikely that the development of oil in Guyana will materialize.
Did some one tell you that Guyana and Venezuela are the only two nations with oil reserves?
Venezuela is a founding member of OPEC. Guyana has yet to join and most likely will not, as I don't even think that T&T is a member. THAT alone is a reason why an oil company will drill in Guyana regardless as to what happens in Venezuela. Oil companies want to expand their sources of non OPEC oil.
And a perfect place to do so is a little backward nation like Guyana which is naïve, and where a man prefers to run around screaming "we gun tek back Guyana for Indians" simply because he cannot admit that he LOST. Instead of using the fact that he has experience from governing over the past 23 years and should should insist that the current gov't negotiates a proper deal that will be beneficial to Guyana.
What will determine drilling will be the extraction and drilling costs related to oil prices. Nothing to do with Venezuela. The biggest constraints will be the fact that your PPP failed to build a proper deep water harbor, even though Brazil offered assistance. These means that most activity will occur off shore and in Trinidad. Guyana lost the opportunity to be a large deep water harbor.
Exxon is merely saying what any sensible person already knew, and I have said this many times. Direct jobs for Guyanese from oil will be limited.