“While the front-loading of contracts and the securing of large contracts might be politically popular it might prove to be economically disastrous, University of Guyana Business Professor Leyland Lucas has said in an article that seeks, in part, to respond to the popular argument touting the virtue of so-called front-loading, that is, the drawing down of significant cash amounts of as yet unearned income from the oil and gas industry.

By Dr Leyland M. Lucas

Guyana’s oil revenues should be used to finance the development of renewable energy sources and cash normally spent on fossil fuels should be fund systems that can resist the impact of climate change, say top local and regional officials.

The University of Guyana’s Turkeyen and Tain Talks held its seventh meeting in New Amsterdam, Berbice on Wednesday, on Guyana’s emerging oil and gas economy.

Present at the talks were Director of the University of Guyana, Berbice Campus and Vice Chancellor of the University of Guyana, Professor Ivelaw Griffith and Minister of Natural Resources Raphael Trotman among others.