ASP’s COO Andrew Holland co-authored an Op-Ed with ASP board member David Wade on November 2nd. In it, they argue for a closer US-Guyana relationship. This would not only help provide the US a stable source of energy in its own hemisphere, but also allow the US to balance against Venezuela’s destabilizing influence in the region. US support for Guyana would help ensure that it does not fall victim to the resource curse like many of the small nations that have made similar discoveries before.
Holland and Wade touted how the discovery of 4 million barrels of oil off Guyana’s coast has the potential to reshape the South American oil market, lessening Venezuela’s malign influence on regional politics. They applaud Guyana’s collaboration with international organizations to create a sovereign wealth fund to create greater transparency on how Guyana’s newfound oil revenue is spent. By supporting Guyana’s borders the US can uphold important international norms like the rule of law, sovereignty and the law of the sea, while also helping to set Guyana down the path to prosperity.
Holland and Wade conclude:
“Guyana has a chance to change its own future and tilt the regional energy picture towards stability and predictability. The United States, even in an era of retrenchment, needs to find the bandwidth to help them succeed, so that we all benefit.”
For more information, read the full article “A secret weapon on Venezuelan oil: Guyana” in the Washington Examiner.