President Dr Mohamed Irfaan Ali has described Guyana as “the most secure location for exploration and investment in oil and gas,” while emphasising the nation’s commitment to maintaining environmental sustainability and low-carbon development.
Addressing a gathering last Friday evening at the Maple Leaf Gala in Toronto, Canada, President Ali said Guyana has managed to preserve its global biodiversity at a time when its levels continue to decline.
“In a world where 60 per cent of biodiversity has been lost, we have kept ours intact because we understand that fresh water, pharmaceuticals, scientific research and development are industries of the future. These are resources that will power the future,” the president stated.
He noted that as the global energy transition advances, countries with high carbon-intensive oil production will face increasing pressure.
“When the world decides to phase out the most inefficient oil and gas producers, they will have to phase out those with the highest carbon footprint. We know that when we get to that stage, Guyana will not be one of those countries dropping out. That is why Guyana is the most secure location for exploration and investment in oil and gas,” President Ali declared.
The president’s remarks come just a few days after he urged more investment in carbon capture technologies and low-carbon innovations during an address at Rice University’s Baker Institute for Public Policy in Houston, Texas.
President Ali told the gathering there that oil companies must invest more in systems that improve efficiency, productivity and innovation while reducing the environmental footprint of oil and gas production.
He explained that Guyana is already positioning itself as a global model for balancing hydrocarbon development with environmental sustainability. He encouraged increased investment in carbon capture technologies, low-carbon solutions and market-based environmental services.
According to the president, global energy discussions have focused too heavily on subsidies, incentives and restrictions tied to renewable energy and fossil fuels, while insufficient attention has been placed on technologies that can reduce emissions from oil production.
“We are going to make this a resource blessing through investment, diversification and economic expansion,” President Ali said.
He added that the government’s vision is for every Guyanese family to benefit directly from the country’s economic growth through improved living standards, home ownership opportunities and access to quality services.
President Ali also highlighted Guyana’s stable investment climate, noting that predictability remains one of the strongest advantages.