Drilled Guyana Update: Gas to Energy for Guyana, or Problem to Profit for Exxon?
Oct 9, 2023
A critical analysis of Guyana's Gas to Energy project, questioning its necessity and highlighting potential risks. Issues with government's working assumption and lack of planning, resulting in an unreliable energy system. Discussion on the possibility of building petrochemical facilities in Guyana and challenges of oversupply in the single-use plastics market. Questioning the electricity needs in Guyana and doubting the necessity of a gas plant.
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Guyana's Gas to Energy Project: A Risky Bet
- Guyana's planned "Gas to Energy" project is risky and questionable.
- The Guyanese grid doesn't need a 300-megawatt plant, resulting in a massive oversupply.
Project's Impact on Electricity Costs
- The project won't lower electricity costs but will burden taxpayers through subsidies.
- Solar investments would offer direct benefits, local employment, and economic growth.
ExxonMobil's Profiteering
- ExxonMobil stands to profit significantly from the project through lending, pipeline construction, and potential gas sales.
- The project resolves Exxon's flaring issue and creates multiple revenue streams.