Director of the Department of Energy (DoE), Dr. Mark Bynoe, on Saturday said that with the advent of first oil, cheap fuel can be provided without a local refinery.
These participants at the Men’s Regional Convention pay keen attention to the presentation being made by Director, Department of Energy, Dr Mark Bynoe
Dr. Bynoe was at the time speaking to 200 men at the Men’s Regional Convention organised by the Restoration Temple A.O.G. in New York in collaboration with the Mocha Church of the Nazarene. This was at the Ramada Hotel at Providence, East Bank Demerara.
In his address at the gathering, the Energy Director said the DoE would pursue only evidence-based decision-making which would lead to prudent, non-regrettable investments.
“We have never said that there will never be a refinery. At this time, a refinery is not feasible… I think what most people are conflating is not if a refinery should come to shore, it’s whether or not we should have cheap fuel. A refinery doesn’t mean cheap fuel, or the absence of a refinery doesn’t mean that you will not have cheap fuel. Cheap fuel is a policy decision, and there are many ways by which you can ultimately have cheap fuel… I cannot advise my Minister to pursue an investment down a rabbit hole. What the Department is concerned about is what we call ‘no-regrets investment’. When you invest today, you must not regret tomorrow…it must be monies that are well spent,” Dr. Bynoe noted.
Director, Department of Energy, Dr Mark Bynoe (fifth from left) along with some of the organizers and participants of the Men’s Regional Convention at the Ramada Hotel, East Bank Demerara
Additionally, he said the industry must be managed for the benefit of all Guyanese.
“We are accountable first and foremost to the people of Guyana. These resources are not Bynoe’s resources; these resources do not belong to the President of Guyana; they belong to Guyanese…and the minute we stop distinguishing about ethnicity, the better it will be for all Guyanese,” Dr. Bynoe said.
Meanwhile, during the interactive session, one participant, Dornnel McFarlane, said that as a Communications student at the University of Guyana, he now has a better understanding of the role that he can play in the development of the oil and gas sector.
“I recognise that through the media, which has a very important role to play in changing our landscape for the transformation of Guyana, I can play a very integral role in disseminating information that is very objective, that will lead to truth and confidence, and that will surely show the real picture. Another thing that stood out for me is that the contracts [are] not as bad as they seem. How Dr. Bynoe explained the contracts, I recognise that it’s really and truly moving Guyana forward,” he said.
The Department of Energy continues to spearhead interactive sessions that target a wide cross section of persons, to keep them informed about developments in the petroleum sector.
The Convention was held at the Ramada Hotel, East Bank Demerara.
