Good/Positive vibes from Dr Mark Bynoe

Benefits of oil sector will filter through the entire economy -Head of Energy Dept.

Benefits of oil sector will filter through the entire economy -Head of Energy Dept.

With ExxonMobil announcing its tenth oil find in Guyana, the Head of the Department of Energy, Dr. Mark Bynoe, is encouraging Guyanese to look beyond the oil and gas for benefits from the sector.

In an interview, he explained that employment opportunities will be available for a number of sectors that will benefit from oil and gas.

“We need to see beyond oil and gas. There is a common perception that if I am not directly employed with the oil and gas sector, i am not benefitting from the oil and gas boom and this is just another announcement, where the revenues are basically going off to some other sector”, Dr. Bynoe said.

Exxon has reported that its tenth discovery of oil in Guyana’s waters has taken the number of discoverable oil barrels to over five billion barrels.

By 2025, the company intends to be producing close to 750,000 barrels of oil per day. For Guyana, experts believe the country’s economy could see growth by more than 1000% in the early years of oil production.

Already, a number of local businesses have been setting themselves up for the opportunities that the sector will provide. Dr. Bynoe said those opportunities will be many.

“The oil and gas sector impacts all range of sectors within the country and this include from the tourism sector to the hospitality sector to the services sector. So from your taxi drivers to your tour operators to the individuals looking to get their produce to markets. We are also aiming to reduce the cost of energy to provide for a better and more secured energy supply and also allow us to transition towards agro processing”, he noted.

Guyana will see first oil in 2020.  Earlier this year, the government unveiled a Department of Energy. It intends to turn the Department into a full Government Ministry as first oil draws near.

Original Post
antabanta posted:
Nehru posted:

What is positive?? Those clowns know to sell Al Yuh Snakeoil

What part of the article is snake oil?

Historically, when Guyana’s economy does well, everyone benefits.  Yes, there is political favors in some circles, but that only go so far.

Indians should not complain too much, when Afros make money, they spend it in businesses that are mostly Indian owned.  Ayuh relax leh Datt aile start flowing! Nah wash Ayuh mouth 👄 pon am too much.

Mi family down deh seh dem geh nuff business from Afros.  Even the sari shop sell nuff outfit to Afro gyals.  And dem dozz buy the best!

Ayuh relax leh Datt aile flow!!

Come 2020, Iran and Saudi will go at each other sending oil over $100/per barrel.

antabanta posted:

So... what part of the article is snake oil?

The lack of details of what exactly are the opportunities. He talking about taxi drivers and hospitality, this is for what? Oil tourism of a few visiting Exxon head honchos? Let us fact the facts, the oil will never see the shores of Guyana, it will be put in tankers and head for overseas refineries. No refinery in Guyana. 

Drugb posted:
antabanta posted:

So... what part of the article is snake oil?

The lack of details of what exactly are the opportunities. He talking about taxi drivers and hospitality, this is for what? Oil tourism of a few visiting Exxon head honchos? Let us fact the facts, the oil will never see the shores of Guyana, it will be put in tankers and head for overseas refineries. No refinery in Guyana. 

Not sure what physical presence on the land have to do with anything.  Furthermore, with 10k bpd domestic consumption, the value proposition for a refinery is hardly there.  TT has that already.

I doubt his interview was intended to elaborate full details.  However, you missed the point of cheap power and agro processing.  Guyana’s industrial growth was stunted by cost of power.

Infrastructure development is also critical.

Drugb posted:
antabanta posted:

So... what part of the article is snake oil?

The lack of details of what exactly are the opportunities. He talking about taxi drivers and hospitality, this is for what? Oil tourism of a few visiting Exxon head honchos? Let us fact the facts, the oil will never see the shores of Guyana, it will be put in tankers and head for overseas refineries. No refinery in Guyana. 

A brand new, powerful industry has reached Guyana and you don't understand what opportunities that will open for Guyana? You think that only a few visiting Exxon head honchos will work the rigs? Did you make the Rat aware of this when he invited Exxon to Guyana to dig for oil or were you not against oil exploration at that time?

antabanta posted:
Drugb posted:
antabanta posted:

So... what part of the article is snake oil?

The lack of details of what exactly are the opportunities. He talking about taxi drivers and hospitality, this is for what? Oil tourism of a few visiting Exxon head honchos? Let us fact the facts, the oil will never see the shores of Guyana, it will be put in tankers and head for overseas refineries. No refinery in Guyana. 

A brand new, powerful industry has reached Guyana and you don't understand what opportunities that will open for Guyana? You think that only a few visiting Exxon head honchos will work the rigs? Did you make the Rat aware of this when he invited Exxon to Guyana to dig for oil or were you not against oil exploration at that time?

Educate me as I am not as smart as your are in these matters. What is this brand new industry's impact on Guyana if the oil will never see Guyana's shores? Exxon already has its own supply chain of skilled workers and equipment, spares etc, buying a few "rations" from the local businesses to appease govt is not impact worthy.   You really believe that Guyanese will perform some meaningful task on the oil rigs? Let us hear the details instead of generalizing. 

 

antabanta posted:
Drugb posted:
antabanta posted:

So... what part of the article is snake oil?

The lack of details of what exactly are the opportunities. He talking about taxi drivers and hospitality, this is for what? Oil tourism of a few visiting Exxon head honchos? Let us fact the facts, the oil will never see the shores of Guyana, it will be put in tankers and head for overseas refineries. No refinery in Guyana. 

A brand new, powerful industry has reached Guyana and you don't understand what opportunities that will open for Guyana? You think that only a few visiting Exxon head honchos will work the rigs? Did you make the Rat aware of this when he invited Exxon to Guyana to dig for oil or were you not against oil exploration at that time?

Siphoning of Guyana's oil and paying two jills per barrel.

Drugb posted:
antabanta posted:
Drugb posted:
antabanta posted:

So... what part of the article is snake oil?

The lack of details of what exactly are the opportunities. He talking about taxi drivers and hospitality, this is for what? Oil tourism of a few visiting Exxon head honchos? Let us fact the facts, the oil will never see the shores of Guyana, it will be put in tankers and head for overseas refineries. No refinery in Guyana. 

A brand new, powerful industry has reached Guyana and you don't understand what opportunities that will open for Guyana? You think that only a few visiting Exxon head honchos will work the rigs? Did you make the Rat aware of this when he invited Exxon to Guyana to dig for oil or were you not against oil exploration at that time?

Educate me as I am not as smart as your are in these matters. What is this brand new industry's impact on Guyana if the oil will never see Guyana's shores? Exxon already has its own supply chain of skilled workers and equipment, spares etc, buying a few "rations" from the local businesses to appease govt is not impact worthy.   You really believe that Guyanese will perform some meaningful task on the oil rigs? Let us hear the details instead of generalizing. 

 

You are right that the oil industry functions on their own system of on demand skilled workers which they bring in from wherever they are when they need them. These are mainly Philippinos and Indians. One sees this all over the oil sectors in whatever country. Guyanese will constitute less than 10 percent of the direct work force. 

However, our government's administrative structures will balloon out by 30 to 40 percent. These jobs, most in building and administration will be where Guyanese with talent will be employed and we will also begin to have a temporary foreign workforce ( immigration will tighten up)  that will match our own with numbers. There will be hundreds areas of opportunities for the Guyanese person to make money and often this is because they are connected to the government. 

It will take creative effort to balance the economy with emphasis in agriculture and industrial manufacturing because the curse of oil is an undiversified economy with abandoning of agriculture and farming.

You are both right so no need to quarrel. There will be extremely uncertain times for most Guyanese and the uneducated and unskilled and uncreative ( most of the population) will suffer social and cultural dislocations if we are not careful. Given who we are we are not going to handle this well as usual.

Mark a wan good bai. Mark a de man foh de wuk since abie na gat peopkle. De problem is Mark gat foh bring wite man in only. He cyany reach out to dem guyanese coolies who he PNC peopkle gat bad mind foh. Hey hey hey. Dem PNC guerrillas does mek decision only on bad mind and race. Dem compromise person is foreign wite man. Hey hey hey... 

D2 posted:

You are right that the oil industry functions on their own system of on demand skilled workers which they bring in from wherever they are when they need them. These are mainly Philippinos and Indians. One sees this all over the oil sectors in whatever country. Guyanese will constitute less than 10 percent of the direct work force. 

However, our government's administrative structures will balloon out by 30 to 40 percent. These jobs, most in building and administration will be where Guyanese with talent will be employed and we will also begin to have a temporary foreign workforce ( immigration will tighten up)  that will match our own with numbers. There will be hundreds areas of opportunities for the Guyanese person to make money and often this is because they are connected to the government. 

It will take creative effort to balance the economy with emphasis in agriculture and industrial manufacturing because the curse of oil is an undiversified economy with abandoning of agriculture and farming.

You are both right so no need to quarrel. There will be extremely uncertain times for most Guyanese and the uneducated and unskilled and uncreative ( most of the population) will suffer social and cultural dislocations if we are not careful. Given who we are we are not going to handle this well as usual.

Given the current hiring trend in govt jobs, this means mostly Blacks will benefit directly as they are disproportionately represented in the public sector. The Indos will benefit mostly from the trickle down effect as Blacks tend to be more desirable consumers. 

Drugb posted:
D2 posted:

You are right that the oil industry functions on their own system of on demand skilled workers which they bring in from wherever they are when they need them. These are mainly Philippinos and Indians. One sees this all over the oil sectors in whatever country. Guyanese will constitute less than 10 percent of the direct work force. 

However, our government's administrative structures will balloon out by 30 to 40 percent. These jobs, most in building and administration will be where Guyanese with talent will be employed and we will also begin to have a temporary foreign workforce ( immigration will tighten up)  that will match our own with numbers. There will be hundreds areas of opportunities for the Guyanese person to make money and often this is because they are connected to the government. 

It will take creative effort to balance the economy with emphasis in agriculture and industrial manufacturing because the curse of oil is an undiversified economy with abandoning of agriculture and farming.

You are both right so no need to quarrel. There will be extremely uncertain times for most Guyanese and the uneducated and unskilled and uncreative ( most of the population) will suffer social and cultural dislocations if we are not careful. Given who we are we are not going to handle this well as usual.

Given the current hiring trend in govt jobs, this means mostly Blacks will benefit directly as they are disproportionately represented in the public sector. The Indos will benefit mostly from the trickle down effect as Blacks tend to be more desirable consumers. 

Doh will definitely happen. 

Drugb posted:
antabanta posted:
Drugb posted:
antabanta posted:

So... what part of the article is snake oil?

The lack of details of what exactly are the opportunities. He talking about taxi drivers and hospitality, this is for what? Oil tourism of a few visiting Exxon head honchos? Let us fact the facts, the oil will never see the shores of Guyana, it will be put in tankers and head for overseas refineries. No refinery in Guyana. 

A brand new, powerful industry has reached Guyana and you don't understand what opportunities that will open for Guyana? You think that only a few visiting Exxon head honchos will work the rigs? Did you make the Rat aware of this when he invited Exxon to Guyana to dig for oil or were you not against oil exploration at that time?

Educate me as I am not as smart as your are in these matters. What is this brand new industry's impact on Guyana if the oil will never see Guyana's shores? Exxon already has its own supply chain of skilled workers and equipment, spares etc, buying a few "rations" from the local businesses to appease govt is not impact worthy.   You really believe that Guyanese will perform some meaningful task on the oil rigs? Let us hear the details instead of generalizing. 

 

Sure... let's not generalize. So dispense with such statements like buying a few "rations" from the local businesses, etc. That's what generalizing is. And that's Lesson 1. Now stand in the corner with your dunce cap.

skeldon_man posted:
antabanta posted:
Drugb posted:
antabanta posted:

So... what part of the article is snake oil?

The lack of details of what exactly are the opportunities. He talking about taxi drivers and hospitality, this is for what? Oil tourism of a few visiting Exxon head honchos? Let us fact the facts, the oil will never see the shores of Guyana, it will be put in tankers and head for overseas refineries. No refinery in Guyana. 

A brand new, powerful industry has reached Guyana and you don't understand what opportunities that will open for Guyana? You think that only a few visiting Exxon head honchos will work the rigs? Did you make the Rat aware of this when he invited Exxon to Guyana to dig for oil or were you not against oil exploration at that time?

Siphoning of Guyana's oil and paying two jills per barrel.

I dislike that arrangement as much as you. I may be wrong but I think the problem is Guyana was in no position of strength to negotiate. However, the impact on Guyana of the activity cannot be ignored. How much real estate in Guyana has Exxon already invested in and why? How many businesses have already sprung up in Guyana to provide support and why?

Drugb posted:
D2 posted:

You are right that the oil industry functions on their own system of on demand skilled workers which they bring in from wherever they are when they need them. These are mainly Philippinos and Indians. One sees this all over the oil sectors in whatever country. Guyanese will constitute less than 10 percent of the direct work force. 

However, our government's administrative structures will balloon out by 30 to 40 percent. These jobs, most in building and administration will be where Guyanese with talent will be employed and we will also begin to have a temporary foreign workforce ( immigration will tighten up)  that will match our own with numbers. There will be hundreds areas of opportunities for the Guyanese person to make money and often this is because they are connected to the government. 

It will take creative effort to balance the economy with emphasis in agriculture and industrial manufacturing because the curse of oil is an undiversified economy with abandoning of agriculture and farming.

You are both right so no need to quarrel. There will be extremely uncertain times for most Guyanese and the uneducated and unskilled and uncreative ( most of the population) will suffer social and cultural dislocations if we are not careful. Given who we are we are not going to handle this well as usual.

Given the current hiring trend in govt jobs, this means mostly Blacks will benefit directly as they are disproportionately represented in the public sector. The Indos will benefit mostly from the trickle down effect as Blacks tend to be more desirable consumers. 

My number is wrong. I meant 30 to 40 times!

D2 posted:
Drugb posted:
D2 posted:

You are right that the oil industry functions on their own system of on demand skilled workers which they bring in from wherever they are when they need them. These are mainly Philippinos and Indians. One sees this all over the oil sectors in whatever country. Guyanese will constitute less than 10 percent of the direct work force. 

However, our government's administrative structures will balloon out by 30 to 40 percent. These jobs, most in building and administration will be where Guyanese with talent will be employed and we will also begin to have a temporary foreign workforce ( immigration will tighten up)  that will match our own with numbers. There will be hundreds areas of opportunities for the Guyanese person to make money and often this is because they are connected to the government. 

It will take creative effort to balance the economy with emphasis in agriculture and industrial manufacturing because the curse of oil is an undiversified economy with abandoning of agriculture and farming.

You are both right so no need to quarrel. There will be extremely uncertain times for most Guyanese and the uneducated and unskilled and uncreative ( most of the population) will suffer social and cultural dislocations if we are not careful. Given who we are we are not going to handle this well as usual.

Given the current hiring trend in govt jobs, this means mostly Blacks will benefit directly as they are disproportionately represented in the public sector. The Indos will benefit mostly from the trickle down effect as Blacks tend to be more desirable consumers. 

My number is wrong. I meant 30 to 40 times!

Sounds like your plan is to take the aile money and create make/up lazy man govt jobs for the kith and kin and suck the treasury, a welfare state.  Burnham tried this once.  We all know how that ended!

I hope you are not an advisor!!  You getting your percent and times mixed up!

Baseman posted:
D2 posted:
 

Given the current hiring trend in govt jobs, this means mostly Blacks will benefit directly as they are disproportionately represented in the public sector. The Indos will benefit mostly from the trickle down effect as Blacks tend to be more desirable consumers. 

My number is wrong. I meant 30 to 40 times!

Sounds like your plan is to take the aile money and create make/up lazy man govt jobs for the kith and kin and suck the treasury, a welfare state.  Burnham tried this once.  We all know how that ended!

I hope you are not an advisor!!  You getting your percent and times mixed up!

I am giving you examples from all over the world except Norway and Britain. Even in the US the consequence of oil is the enrichment of a few and the majority eat cake. Oklahoma is one of the nations large oil producing states and it is in dire poverty. OKC cannot meet its bills and poverty in the rural areas is endemic. 

In an ethnicly divided society as ours, we will suffer the Nigerian syndrome. One side or the other will be the Igbos and be hard press to see any oil money.  

antabanta posted:

I dislike that arrangement as much as you. I may be wrong but I think the problem is Guyana was in no position of strength to negotiate. However, the impact on Guyana of the activity cannot be ignored. How much real estate in Guyana has Exxon already invested in and why? How many businesses have already sprung up in Guyana to provide support and why?

Bannas like yuh deh pun stupidness or woh?  You asking how many business spring up and yet two major banks just announced that they pulling out of Guyana despite your claims of oil wealth to come.  Them pnc bais your koolaid extra strong. 

D2 posted:
Baseman posted:
D2 posted:
 

Given the current hiring trend in govt jobs, this means mostly Blacks will benefit directly as they are disproportionately represented in the public sector. The Indos will benefit mostly from the trickle down effect as Blacks tend to be more desirable consumers. 

My number is wrong. I meant 30 to 40 times!

Sounds like your plan is to take the aile money and create make/up lazy man govt jobs for the kith and kin and suck the treasury, a welfare state.  Burnham tried this once.  We all know how that ended!

I hope you are not an advisor!!  You getting your percent and times mixed up!

I am giving you examples from all over the world except Norway and Britain. Even in the US the consequence of oil is the enrichment of a few and the majority eat cake. Oklahoma is one of the nations large oil producing states and it is in dire poverty. OKC cannot meet its bills and poverty in the rural areas is endemic. 

In an ethnicly divided society as ours, we will suffer the Nigerian syndrome. One side or the other will be the Igbos and be hard press to see any oil money.  

Someone must have borrowed your handle, you had deeper thinking in the past!  The scenarios and references above are irrelevant and what you see as the way forward, IS the Nigeria scenario!

Drugb posted:
antabanta posted:

I dislike that arrangement as much as you. I may be wrong but I think the problem is Guyana was in no position of strength to negotiate. However, the impact on Guyana of the activity cannot be ignored. How much real estate in Guyana has Exxon already invested in and why? How many businesses have already sprung up in Guyana to provide support and why?

Bannas like yuh deh pun stupidness or woh?  You asking how many business spring up and yet two major banks just announced that they pulling out of Guyana despite your claims of oil wealth to come.  Them pnc bais your koolaid extra strong. 

Bank of Baroda is leaving Ghana, T&T, and South Africa. Scotiabank is leaving nine Caribbean countries.

Wheel and come again with something better.

Baseman posted:
D2 posted:
Baseman posted:
D2 posted:
 

Given the current hiring trend in govt jobs, this means mostly Blacks will benefit directly as they are disproportionately represented in the public sector. The Indos will benefit mostly from the trickle down effect as Blacks tend to be more desirable consumers. 

My number is wrong. I meant 30 to 40 times!

Sounds like your plan is to take the aile money and create make/up lazy man govt jobs for the kith and kin and suck the treasury, a welfare state.  Burnham tried this once.  We all know how that ended!

I hope you are not an advisor!!  You getting your percent and times mixed up!

I am giving you examples from all over the world except Norway and Britain. Even in the US the consequence of oil is the enrichment of a few and the majority eat cake. Oklahoma is one of the nations large oil producing states and it is in dire poverty. OKC cannot meet its bills and poverty in the rural areas is endemic. 

In an ethnicly divided society as ours, we will suffer the Nigerian syndrome. One side or the other will be the Igbos and be hard press to see any oil money.  

Someone must have borrowed your handle, you had deeper thinking in the past!  The scenarios and references above are irrelevant and what you see as the way forward, IS the Nigeria scenario!

You have me at a loss as to what section of my post you are commenting on. I would surmise you are taken to early drinking or you missed my point completely. I have stated no plans as to use of oil money. I stated what is the standard doctrine of spending it and give you examples of two states that do it best. All others have failed to generate benefits to their local economy. If you know otherwise then you need to help me. I actually spent most of the night reading on the pitfalls of oil cash and I still have not found one example in your comment that say I am off track. It is history so you can begin there to show me where I am wrong. 

antabanta posted:
Drugb posted:
antabanta posted:

I dislike that arrangement as much as you. I may be wrong but I think the problem is Guyana was in no position of strength to negotiate. However, the impact on Guyana of the activity cannot be ignored. How much real estate in Guyana has Exxon already invested in and why? How many businesses have already sprung up in Guyana to provide support and why?

Bannas like yuh deh pun stupidness or woh?  You asking how many business spring up and yet two major banks just announced that they pulling out of Guyana despite your claims of oil wealth to come.  Them pnc bais your koolaid extra strong. 

Bank of Baroda is leaving Ghana, T&T, and South Africa. Scotiabank is leaving nine Caribbean countries.

Wheel and come again with something better.

BoB said in 2017 their international interests will be reserved for the four countries I stated. Their plans happen to match the government of india desires for their banking security.

Baseman posted:

I hope that oil start flowing soon.  The people of Guyana deserve a better life.  Let’s hope them PNC don’t get drunk and wild.   Thus far they seem rational and prudent.

Really? You think they are prudent given the reckless spending they have engaged in over the past 3 years? They even entered into some of the worst agreements with Exxon and the oil extraction and you still believe they are prudent.

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