In one of my past articles, I surmised that Oil has been a destroyer of countries…..its benefits are temporary…..setting up its hosts for economic demise. I mentioned Venezuela, where the Oil euphoria of the 1970’s enabled a welfare state, a whole generation who never experienced hardship….and when it collapsed, that generation turned to garbage heaps just to survive and ignited a class warfare that’s still raging. Venezuela has a mixed racial population….had it a strict racially defined population. a racial war would have ensued.
Goldman Sachs in a report, predicts major upheaval in oil producing states. As oil demand slows, producers will all rush to market at once, trying to capitalize on declining assets….sending prices even lower. Only the lowest cost producers will survive albeit with a dramatic drop in revenues. As Goldman noted, 10% of the vehicles on the road today use 60% of all oil produced. These are mostly taxis, transportation and delivery vehicles. More significantly, these vehicles will be the first to transition to electric because of the huge gas bill. By 2029…they estimate that 290 million electric vehicles will be on the road.
Guyana has already made the same mistakes like Venezuela and most other Oil producing states…borrowing against Oil revenues…giving civil servants outsized wage raises and increasing the bureaucracy. But the trap was already set…..with the Opposition becoming increasing belligerent and nationalistic and with the Indian majority marginalzed and force to migrate, the PPP is on the road to hell. It is clear the PPP will not win the next election, the determinant of election victory or defeat is not economics…its race. The PPP has actually hastened its demise by enhancing the Opposition supporters and neglecting its own supporters ….an Indian leader specialty. The Opposition sensing victory will work overtime to destabilize Guyana and drive the margin of victory out of Guyana, this destabilization efforts are propelled by influential racists African talk show hosts.
In 2015 when the Afro opposition took power, we got a glimpse of their intentions..racism against Indians, hiring 12,000 civil servants,(mostl Afros)… giving citizenship to Black Haitians to boost their population, increasing the firepower of the Afro dominated security forces, taking revenge against PPP officials and increase the Pension of prior PNC strongmans..who got Indian blood on their hands.
We have seen this playbook before…in 1987 when oil prices collapsed, Indians had to flee Trinidad. (the Canadian Refugee Board had to grant them asylum). In 1975, Indians had to flee Uganda as Blacks turned against Indians, for “controlling” the economy that was repeated in Zimbabwe in the 1990’s. As the socialist experiment fails in South Africa..the Black majority will turn against the Indian mercantile class they already did last summer. In 1964, when Burnham took over Guyana, Mr. Balram Singh Rai urged Indians to leave “Guyana will flow with Indian blood” he proclaimed. Indeed, those that heeded that prophetic warning were saved. As Guyana contracted in the 1980’s Burnham turned on the Indians scapegoating them. If the PPP wants to save itself or its supporters it must turn to radical solutions….in cancer treatments the longer you wait the more radical the treatment. Time is almost up for them.