Continue with the extraction of fossil fuels

Dear Editor,
When travelling around Guyana and querying public views about Exxon’s exploration for fossil fuels and its discovery, which has resulted in the development of oil blocks or fields and the pumping of oil, almost everyone is of the opinion that the oil and gas should be extracted, and not left under the sea bed.
Some views have suggested that the oil should remain under the sea bed. That viewpoint is dwindling compared with eight or nine years ago.
Some five years ago, a significant percentage of people felt that oil should remain undeveloped. That was a period when few Guyanese knew about Guyana having oil and the enormous benefits that would accrue, such as large amounts of revenues from its development and extraction. Some eight years ago, only about 10% of Guyanese knew about Guyana being an oil-producing nation. As news spread around via traditional and social media and by word of mouth and comments from politicians and Government since 2016, more and more people have become aware of Guyana as an oil-producing nation.
Earlier this year, based on a survey, over 90% of the local population, and even most of the diaspora, were aware of Guyana being an oil-producing state. It was consistently noted and penned by critics of Exxon, going back to 2016, that oil won’t spoil, and that if the country does not get the deal it wants, then the oil should remain underground. The population disagrees. Almost everyone in a survey in September felt that the oil should be extracted as quickly as possible. They have recognized the huge benefits, the investment made that created jobs and that has also helped to grow local businesses, and the revenues received by the Government that leaving the oil underground would not benefit the country.
Guyana has received several billions of American dollars since Exxon began exploring oil and its successful discoveries and development from 2020 onwards. Critics need to be informed that all (developing) countries (Africa, Latin America, Indian Ocean) that recently found oil are in expedited oil and gas production, with hardly any self-control and limitation. They are maximizing oil and gas production because of the pressure to turn to renewable energy like solar, wind, and hydro. The new oil states are earning huge amounts of revenue.
The countries that have been producing fossil fuels for the last hundred years are continuing to develop oil blocks and fields, not abandoning their fields or blocks. They do not decrease production, except when there is a glut, when they tend to cut production to keep prices stable and relatively high. They are not letting up on energy fossil production.
Demand for oil and gas has also increased globally, making greater production of fossil fuel energy necessary.
Guyana must do no less. At any rate, Guyana has to increase oil production because Exxon and other oil companies have made huge investments, in the tens of billions of American dollars, that must be recovered. It would be wrong to tell the companies to pack up and leave after they have invested so much money. They have to recover their costs, or else no company would want to do business with Guyana.
And if they were to leave, Guyana would be deprived of billions of American dollars that have been used to prop up the budget and for development like building roads and bridges and doling out contracts to businesses that have been made millionaires.
Exxon’s contributions to the budget have helped with the state payroll of civil servants, or the bureaucracy; police, armed forces, teachers, and more. It has also been used for building infrastructure and paying for health, education, pension, and social welfare, among other benefits being received by Guyanese. Soon, the gas from the oil development will be used to generate electricity, which would be used to power industries. All around, Guyanese are benefitting from oil exploration, development and pumping of oil.
Continue with the extraction of oil and gas!

Yours truly,
Vishnu Bisram