Guyana, one of the fastest-growing economies in the world, has an abundance of energy resources that could help address severe global shortages. In 2015, it discovered off-shore oil reserves that have produced unprecedented tax and royalty revenue and powered double-digit GDP growth. In Guyana, that windfall promises dramatic improvements to infrastructure and the health and education systems in a country with fewer than 1 million inhabitants. Outside Guyana, the oil could help bring down energy prices that have fueled inflation and worsened poverty worldwide, and reduce dependence on Russia’s energy exports.
To take advantage of these opportunities, however, is an enormous governance challenge. Guyana has identified at least 11 billion barrels of oil off its coast, but its leaders recognize that the renewable energy transition will eventually sap demand for its abundant oil and gas. So it is sprinting to ramp up energy exports, while eager to avoid errors from other commodity booms throughout history, whether unfair deals with foreign investors, corruption, environmental degradation, missed development opportunities, or deepening divisions between ethnic communities.
How can Guyana best take advantage of its energy resources? What role should the U.S. government play in supporting Guyana’s broad economic development priorities and strengthening its democratic institutions? How can Guyana help address the global energy crisis? Please join the Wilson Center’s Latin American Program on Tuesday, July 26, 2022, from 1:00 p.m. to 2:00 p.m. (ET), to hear President Ali’s vision for Guyana’s future and global role.
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