International

‘Black gold’ for Guyana and Suriname, a blessing or curse?

Photo: Patrick Fort / AFP

AFP | Patrick Fort

Emerging as potential oil powers while the world seeks to wean itself off planet-warming fossil fuels, poverty-stricken South American neighbors Guyana and Suriname say they have to cash in while they can.

The former Dutch colonies are among the world’s most tree-covered countries, hosts to the so-called forest “lungs” that sequester massive amounts of planet-warming carbon dioxide.

Their economies and populations small, the countries have traditionally emitted little CO2 or other greenhouse gasses from fossil fuel use — in fact Suriname is one of only three carbon-negative countries in the world and Guyana claims carbon neutrality.

But some fear this could change with the recent discovery of rich offshore oil deposits in an area known as the Guyana-Suriname Basin.

20260330_renta_mh_728x90

Guyana, a country of 800,000 people, was recently found to have proven reserves of at least 10 billion barrels of oil, likely much more according to experts.

This makes it the country with the highest reserves per capita in the world — which consumes 99.4 million barrels of oil per day.

Early assessments suggest the reserves of Suriname, a country of 600,000 people, may not be far behind.

“It will be hard to remain carbon neutral as a country (involved in the) petroleum sector,” economist Steven Debipersad of the Anton de Kom University in Suriname’s capital Paramaribo, told AFP.

The projected $10 billion Suriname stands to make in the next 10 to 20 years, will likely bring economic growth at the cost of the environment, he said.

20260330_renta_mh_728x90

The country’s GDP today is about $3 billion.

Hungry ‘every day’

Their presidents insist Guyana and Suriname cannot be expected to turn their backs on a chance to fill their countries’ coffers and raise the quality of life for their people.

The countries are among the poorest in South America, with vast swathes of their populations living without electricity, clean water or access to adequate health services.

In a Paramaribo ghetto named Texas, dirty sewer water flows among dilapidated wooden homes.

Resident Edison Poekitie, a 23-year-old musician, scrapes by on no more than $50 a week. Does he go hungry?

20260330_renta_mh_728x90

“Every day!” he told AFP. “It’s hard out here, really hard.”

The community, he added, needs “water pipes, cables, new roads without potholes, schools, better houses, playgrounds…”

Poekitie said he hoped the government would spend the oil money “wisely,” a sentiment echoed by 45-year-old food truck owner Brian Braithwaite in a poor neighborhood of the Guyanese capital Georgetown.

“Hopefully they do something so that… people (who) live on the street can do better,” Braithwaite said.

‘Oil curse’

Both presidents have vowed to make judicious use of their windfall petroleum profits, though some are worried that will undercut the sovereign wealth funds set up to guard some money for future generations.

20260330_renta_mh_728x90

“We are quite aware of the oil curse,” Suriname President Chan Santokhi told AFP, alluding to neighbor Venezuela and other resource-rich countries such as Angola and Algeria that were unable to turn oil wealth into social and economic progress.

“We… should also get the opportunity to benefit from the production of oil and gas and its income” to address a biting economic crisis “and help our people to have better lives,” he insisted.

For his part, Guyanese President Mohamed Irfaan Ali wants to use the oil income to “create wealth for now, and future generations.”

Both speak of using the money to diversify their economies with investments in agriculture, tourism, housing, education and health care.

Eventually, “the oil and gas will be gone, but the food security should be guaranteed,” said Santokhi.

20260330_renta_mh_728x90

Oil money for green energy

Oil extraction and refining are major contributors to greenhouse gas emissions.

Though they have historically emitted little, Suriname and Guyana are both deeply affected by global warming — in the crosshairs of worsening tropical storms and of flooding from rising sea levels.

Presidents Santokhi and Irfaan Ali believe they can maintain their countries’ carbon balances by using oil money to protect their forests and invest in green energy.

Defending the forests that cover about 87 percent of Guyana and 93 percent of Suriname is also economically sage: both countries can sell so-called carbon credits to polluters who need to offset emissions.

For Guyana, carbon credits are worth about $190 million per year, said Irfaan Ali.

20260330_renta_mh_728x90

Monique Pool, director of the Green Heritage Fund of Suriname, is not convinced by the two-pronged approach.

“Carbon credit will give us more money faster than oil and gas and for longer because it will be sustainable,” she told AFP.

In Georgetown, activist Christopher Ram agreed the oil should be left in the ground, expressing fear of exploitation by ruthless companies in the absence of “good governance.”

Instead, “I would go to the international community and say: ‘We are a small country, we’ve always been good to the environment, we want to stay that way… help us get the benefits we would have got with oil’.”

But 53-year-old Cynthia Neel, who sent her daughter from Suriname to the Netherlands at the age of six for education and a chance at a better life, is hopeful of positive change.

20260330_renta_mh_728x90

“I hope that with the oil the children will no longer have to leave,” she told AFP.

Economist Steven Debipersad poses for a picture at the Istitute of Graduate Studies in the Anton de Kom University in Paramaribo, on September 14, 2022. - Emerging as potential oil powers while the world seeks to wean itself off planet-warming fossil fuels, poverty-striken South American neighbors Guyana and Suriname say they have no choice but to cash in while they can. (Photo by Patrick FORT / AFP)

International

Bill Gates to testify before Congress over Epstein connections

Bill Gates is set to testify on June 10 before a congressional committee in United States investigating links connected to the late sex offender Jeffrey Epstein, a source familiar with the matter told AFP on Tuesday.

The Microsoft co-founder is among several high-profile figures named in documents released by the Department of Justice, which detail alleged close associations, questionable financial dealings, and private photographs involving Epstein.

According to a spokesperson cited by Politico, Gates “welcomes” the opportunity to appear before the committee. The representative emphasized that Gates “never attended or participated in any illegal activities with Epstein” and is prepared to answer questions to support the investigation.

The Bill & Melinda Gates Foundation did not immediately respond to AFP’s request for comment.

In late February, Gates told members of his foundation’s board that his association with Epstein was a “huge mistake.” He has consistently denied any involvement in the financier’s criminal activities. Epstein died by suicide in prison in 2019 while awaiting trial on charges of sex trafficking minors.

20260330_renta_mh_728x90

“I did nothing illegal. I saw nothing illegal,” Gates said, according to a recording obtained by The Wall Street Journal.

Gates acknowledged that his relationship with Epstein began in 2011, three years after Epstein pleaded guilty to soliciting prostitution from a minor.

A draft email written by Epstein and released by the Department of Justice referenced alleged extramarital relationships involving Gates. The message, which was apparently never sent, claimed that Epstein had helped “Bill” obtain medication related to encounters with Russian women.

Gates admitted to having had two extramarital affairs but denied any involvement with Epstein’s victims.

20260330_renta_mh_728x90

International

Former Trump allies call for removal, cite 25th Amendment amid Iran threats

Former allies of U.S. President Donald Trump on Tuesday called for his removal from office, arguing he is unfit to continue in the role following recent threats to “wipe out an entire civilization,” made just hours before the deadline of his ultimatum to Iran.

One of the most prominent voices was former Republican congresswoman Marjorie Taylor Greene, who invoked the 25th Amendment of the U.S. Constitution as a mechanism to remove the president from power.

“25th Amendment! Not a single bomb has fallen on the U.S. We cannot annihilate an entire civilization. This is evil and insanity,” Greene wrote on social media platform X.

Greene, once a leading figure within Trump’s political movement during his first term, broke with the president last November over disagreements on foreign policy and his handling of controversial cases.

Another former supporter, controversial commentator Alex Jones, also raised the possibility of applying the constitutional provision during his show, in a conversation with attorney Robert Barnes.

Barnes explained that invoking the 25th Amendment requires the support of two-thirds of Congress, making it a more complex process than impeachment.

20260330_renta_mh_728x90

Section 4 of the amendment, ratified in 1967, establishes that the vice president, together with a majority of the cabinet, can declare the president unable to perform the duties of the office, a decision that must then be confirmed by both chambers of Congress.

The statements come amid rising international tensions and increasing domestic political pressure on the president.

International

Trump pauses strikes on Iran, extends ultimatum by two weeks

The president of the United States, Donald Trump, announced a temporary suspension of attacks against Iran for a period of two weeks, extending the ultimatum he had imposed on Tehran just hours before its deadline.

According to the president, the measure is conditional on Iran allowing the “full, immediate, and secure” reopening of the Strait of Hormuz. Trump stated that the decision would involve a reciprocal ceasefire between both parties.

The announcement was made through a message on his social media platform, where he emphasized that the pause in military actions is intended to create space for de-escalation in the region.

He also noted that the decision followed a conversation with the prime minister of Pakistan, Shehbaz Sharif, who requested a two-week extension of the ultimatum.

The move comes amid heightened global tensions, marked by escalating threats and concerns over the potential impact of the conflict on key international energy trade routes.