How will Guyana benefit from oil revenue?

first_imgDear Editor,It seems to me that our luck just keeps getting better. Exxon’s increased estimate of Guyana’s oil reserves raised the total figure by 25 per cent. That puts us at a remarkable reserve amount of more than four billion barrels of oil.Exxon’s explanation of the breakdown of activities is even more promising. Liza Phase 1 is in the process of development and will produce up to 120,000 barrels of oil per day. Liza Phase 2 will be even larger, up to 220,000 barrels of oil per day, and is expected to start up in 2022. Exxon also conducted a well test on Liza-5 to explore the northern part of the field.Then there’s the Payara discovery, just above the Liza field, which has given Exxon a reason to start a third development phase, which could be brought forward some time next year. Additionally, there have been other discoveries in the Turbot and Longtail areas which could yield a fourth development.This means that in addition to huge reserves, our assets are diversified. Guyana could potentially have a total of five active developments in the near future, and with that amount of production will come a broad mix of field operators and providers bringing jobs, investment, and infrastructure. Which brings us to the real question: what does this announcement mean for Guyana and how will this benefit Guyanese?We all know that there are many ways in which Guyana could benefit from revenues and investment. Obviously, the increased reserve estimates mean even higher revenues for Guyana. Energy analysts estimate that Guyana’s Government take could reach US$15 billion annually by around 2030. This figure could be even higher if more discoveries are made. A more immediate effect, though, is Guyana going to see a massive uptick in foreign direct investment, benefiting numerous industries across all of Guyana.The urgent question is how will we use this blessing? We will have enough money to finally start critical infrastructure projects. We could improve healthcare access for many citizens. We can focus on education and ensure that Guyanese are getting the skills necessary to turn oil revenues into a lasting foundation for a diverse and sustainable economy. We can also implement the Green State Development Plan, bringing renewable energy production to all regions of Guyana.What we need now, with oil and elections looming, is a clear course of action. We have the potential to make an immediate improvement for Guyanese today. But more than that, we have an opportunity to provide a very bright future for our children. We cannot let that pass by.Sincerely,Clement Smithlast_img read more

Kaiser, OCHS get unique title tilt

first_imgBill Hughes is not about to apologize for reaching the CIF-Southern Section title game, even if tonight’s DivisionIV-AA championship between his Kaiser boys basketball team and Ontario Christian is a little bizarre. “I wasn’t involved with moving from one division to another, but I guess there was a reason why that was done,” he said. “We’re going to make the best of it.” “In the playoffs, it doesn’t matter who’s favored and who’s the underdog,” OCHS coach Scott Brummel said. “It’s just one game. You could play 10 times, but it just takes that one time.” Brummel said the Knights were aware of the small school vs. big school storyline when playing Jurupa Valley, but at this point the team is just worried about winning the first boys basketball title in school history. Kaiser is led by senior guard Hakeem Nance (17 points per game) and Daniel Sosa, who leads the team in rebounds and is second in scoring. The Knights counter with seniors Justus Jones (17 points, 10 rebounds per game) and Tyler Vanderzee (14 ppg), who have led the playoff push. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! But Kaiser’s Sunkist League had exhibited such poor performance in the CIF playoffs during recent years that it fell from Division 1A to 4AA under the CIF’s redivisioning plan. That new plan emphasizes league performance as opposed to school size. As a result, the big Fontana public school will face the little Ontario private school that could. Kaiser (18-12) finished second in its league and was given the No. 10 seed. Once in the playoffs, the Cats’ road to the finals was paved with four small private schools. Hughes said playing against D1 and D2 competition in the preseason helped prepare the Cats for a playoff run. Ontario Christian (23-5) won the Christian League and earned the No. 2 seed. The Knights already have beaten a school larger than Kaiser – Jurupa Valley – by 14 points en route to the title game. center_img This title game (8:15 p.m. at Colony HS) has been a local curiosity thanks to the unusual pairing. Kaiser has 2,605 students – nearly six times Ontario Christian’s 440-student enrollment. As a general rule in high school athletics, the bigger schools usually win out because they have a larger talent pool from which to draw. last_img read more

Thanks to nixed trade, Garland is no Angel

first_imgANAHEIM – If not for an unusual chain of events back in December 2001, Chicago White Sox starter Jon Garland might have been taking the mound today wearing the red and white of the Angels. The Angels and White Sox had reportedly agreed to a trade in which Garland and outfielder Chris Singleton would come to Anaheim in exchange for Darin Erstad. Then-Angels team president Tony Tavares vetoed the deal. Garland, a product of Kennedy High in Granada Hills, said before Chicago’s off-day workout Thursday he was not concerned about “what-if?” “It happens in baseball all the time in baseball these days, trades, moving around,” he said. “It happened to me in `98 as a young kid getting traded to the White Sox (from the Cubs). It’s business.” The right call: Guillen told reporters shortly after Wednesday’s Game 2 that he did not see the controversial ninth-inning play in which A.J. Pierzynski advanced to first base after an apparent strikeout. On Thursday, he admitted to watching the replay twice. His verdict? “The ball hit the dirt,” Guillen said. Keven Chavez, (626) 962-8811 [email protected] 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!center_img Erstad remained an Angel and played a key role in the team’s 2002 World Series championship. This season, the 26-year-old Garland has blossomed into one of the AL’s top starters. He won his first eight starts, was named to the AL All-Star team and finished a career-best 18-10 with a 3.50 ERA. West Coast blues: The White Sox have a respectable 3-4 record at Angel Stadium in White Sox manager Ozzie Guillen’s two seasons as a manager, including a four-game split this season. Nonetheless, he speaks of road games in Anaheim as a trying experience. “Most of the time we start (a West Coast road trip) in Oakland, the pitching staff in Oakland gives us problems and then we move to Anaheim and we carried the problem to here,” Guillen said. last_img