Mars posted:Billy Ram Balgobin posted:We need to take note of the fact that the price of oil was over $100 per barrel in 2014. In 2015, the price oil dropped below $50 per barrel. The PNC took power in 2015 when the economy was saving close to million US dollar per day. This great savings from oil import supposed to really helped the economy. It did not and APNU/AFC have deliberately kept quiet about this fact. If oil price was still over a $100 Guyana's economy would gone way lower under this admin.
Fake news. We were getting cheap oil from Venezuela so the savings from oil you're talking about is in your head. We're paying world market prices now while Chavez and Madburro were giving us cheap oil for rice previously.
We were also getting $1800 for an ounce of gold a few years ago and now it's down to $1200. Some you win and some you lose.
I think only half of Guyana's oil imports came from Venezuela through the rice for oil deal. The venezuelans bartered for rice giving Guyana a price for its rice that was about 20% higher than the world market. Guyana benefited from the drop in oil whether the deal was there or not. Gold stayed at 1800 for a short period.