Image credit: Britannica
Historically, European Colonization of the Guianas were separated into five territories: Spanish, British, Dutch, France and Portuguese. British Guiana borders Venezuela, Suriname and Brazil. Guyana has two characteristics, which distinguishes itself from other South American countries: first, being the only English-speaking country in South America and second, considered more part of the Caribbean than South American due to Guyana’s political and cultural history.
The Co-operative Republic of Guyana received independence from the United Kingdom on May 26, 1966 and became a Republic on February 23, 1970.
Guyana, a Parliamentary Republic, has endured years of socialist bureaucratic corruption, financial misappropriation and expropriation, in which the country subsisted on limited resources due to self-imposed socialistic policies contributing to a stagnant economy.
However, on March 2, 2020 (Guyana's general election), the old socialist government lost to a new political party/. The country had to endure six months of political mischief, orchestrated by the old socialist government.
The nation finally emerged from constitutional and electoral crisis when the new President was finally sworn into office on August 2, 2020, after all legal avenues: High Court and Court of Appeals ruled against the old socialist government; as well as US, EU, UK and Canada, all threatening international sanctions by clearly stating to the old socialist government that it will not be recognized internationally.
2015 was a momentous year for Guyana, an excavated location of oil reserves was discovered and predicted to contain five billion barrels of recoverable reserves by Exxon Mobile and partners.
Due to self-inflicted socialistic policies, Guyana’s economy remained undeveloped, despite foreign investments of $500 million to develop Guyana into a major oil producer in South America.
2019 was an auspicious year for Guyana, as another discovered location led to an additional oil reserves, which Exxon Mobile and partners predicted ten billion barrels of recoverable reserves.
The discoveries of 2015 and 2019 have positioned Guyana (Parliamentary Republic) to become a future leader in oil production of that region; the other regional oil producers (governance) being:
- Brazil (Federal Presidential Republic)
- Venezuela (Dictatorship/Federal Presidential Republic)
- Trinidad & Tobago (Quasi-Dictatorship/Parliamentary Republic)
Brazil is the only country on the list embracing free market policies. Venezuela’s dictatorship cannibalized its own oil production industry becoming non-existent. The twin islands nation, Trinidad & Tobago, is currently in a quasi-dictatorship, in which the government has shut down oil production, forcing foreign companies to divest and invest billions into Guyana’s economy.
Being the third poorest country in the Western Hemisphere, the Guyanese Government is shifting the country’s economic policies away from socialistic bureaucracy and introducing more free market policies resulting in rapid GDP growth. According to the US Department of State, “[Guyana] is poised to dramatically increase its per capita wealth … Guyana’s economy grew by 43.5% in 2020, the only country in the Caribbean to register positive GDP growth [and] the Bank of Guyana’s Half Year Report for 2020 detailed foreign investment increased … to US$834.7 million.” (US Department of State. 2021).
Guyana’s future will encounter obstacles, political pressure and corruption, especially from communist China pouring billions as investments into the Caribbean and South America.
“Freedom is a fragile thing and is never more than one generation away from extinction … for it comes only once to a people” is an abridged quote from Ronald Reagan inaugural speech on January 5, 1967.
The Guyanese nation has been blessed with a once in a lifetime opportunity to remove itself from being known as the third poorest country in the Western Hemisphere. According to Denis Chabrol on October 7, 2021, a statement by Alistair Routledge, President of Exxon Mobile Guyana, noted:
“[I]t is very important that the people of Guyana feel the benefit of … revenues that are generated from the natural resource … that we will almost be tripling the revenue stream to [the Guyanese] government, which will have more funds to invest whether it is in education, infrastructure and other projects for the benefit of all the people in Guyana.”
The Guyanese people have endured both colonialism and socialism, leading to prolonged economic stagnation. However, a once in a lifetime opportunity has blessed the Guyanese people to become the master of their own fate by continuing to vote for candidates that will embrace and foster free market concepts and allow: growing GDP, increasing foreign investments and engendering an improved quality of life for the Guyanese people, which should be lauded and celebrated.
Being the third poorest country in the Western Hemisphere, the Guyanese Government is shifting the country’s economic policies away from socialistic bureaucracy and introducing more free market policies resulting in rapid GDP growth. According to the US Department of State, “[Guyana] is poised to dramatically increase its per capita wealth … Guyana’s economy grew by 43.5% in 2020, the only country in the Caribbean to register positive GDP growth [and] the Bank of Guyana’s Half Year Report for 2020 detailed foreign investment increased … to US$834.7 million.” (US Department of State. 2021).
Guyana’s future will encounter obstacles, political pressure and corruption, especially from communist China pouring billions as investments into the Caribbean and South America.
“Freedom is a fragile thing and is never more than one generation away from extinction … for it comes only once to a people” is an abridged quote from Ronald Reagan inaugural speech on January 5, 1967.
The Guyanese nation has been blessed with a once in a lifetime opportunity to remove itself from being known as the third poorest country in the Western Hemisphere. According to Denis Chabrol on October 7, 2021, a statement by Alistair Routledge, President of Exxon Mobile Guyana, noted:
“[I]t is very important that the people of Guyana feel the benefit of … revenues that are generated from the natural resource … that we will almost be tripling the revenue stream to [the Guyanese] government, which will have more funds to invest whether it is in education, infrastructure and other projects for the benefit of all the people in Guyana.”
The Guyanese people have endured both colonialism and socialism, leading to prolonged economic stagnation. However, a once in a lifetime opportunity has blessed the Guyanese people to become the master of their own fate by continuing to vote for candidates that will embrace and foster free market concepts and allow: growing GDP, increasing foreign investments and engendering an improved quality of life for the Guyanese people, which should be lauded and celebrated.
Written by R. Roger: I’m an old soul in an older body, who does not take himself seriously, but is aware of the seriousness and dangerousness of socialism creeping into the USA.
Sources:
Sources:
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“British Guiana.” Wikipedia. November 7, 2020. https://en.m.wikipedia.org/wiki/British_Guiana
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Sant, Rosemarie. “Petrotrin to shut down November 30.” Trinidad and Tobago Guardian. September 28, 2018. https://www.guardian.co.tt/news/petrotrin-to-shut-down-november-30-6.2.678617.781afbbf9e
Scott, Jasimar. “What does BP’s petrochemical divestment mean for Point Lisas, Trinidad?” Caribbean Business Report. July 3, 2020. https://caribbeanbusinessreport.com/news/what-does-bps-petrochemical-divestment-mean-for-point-lisas-trinidad/
Sonneland, Holly K. “Chart: The Collapse of Venezuela’s Oil Production.” American Society/Council of the Americas. January 24, 2018. https://www.as-coa.org/articles/chart-collapse-venezuelas-oil-production
“The World Factbook.” Central Intelligence Agency. Updated: October 19-26, 2021.
https://www.cia.gov/the-world-factbook/countries/trinidad-and-tobago/
https://www.cia.gov/the-world-factbook/countries/brazil/
https://www.cia.gov/the-world-factbook/countries/venezuela/
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“When Investment Hurts: Chinese Influence in Venezuela.” Center for Strategic & International Studies. April 3, 2018. g
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