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By Desilon DanielsThough Guyana’s discovery of oil potential could be viewed by many as a blessing, oil could easily become a curse if not properly managed by the new administration.President of TIGI,Calvin BernardThis is according to new President of the Transparency Institute Guyana Inc. (TIGI), Calvin Bernard,Cheap Arizona Coyotes Hoodies, who in an interview with Kaieteur News emphasised the need for stringent measures to be put in place to ensure that revenues earned from oil end up in the right places.According to Bernard, the TIGI has recently begun focusing on the area of natural resources and the environment. He explained that the area was a critical one, especially with Guyana’s recent discovery of oil potential.Though Bernard noted that oil held great potential in elevating Guyana’s development, he pointed out that it could be a double edged sword.“Some people look at oil as a curse. There are some theories in economics and development that suggest that, not managed well, something like oil could be a curse to a nation rather than a blessing and that’s just because of the ways in which the revenues from those kinds of operations can be corruptly applied and never reach the right sources,Cheap Adidas NHL Jerseys,” Bernard said.Rather than developing the nation, Bernard said in different countries people use revenues from natural resources for corrupt practices. These practices include the buying of votes during elections and the building of personal empires. “Because of all manner of things, the benefits can never get passed on to our future generations,” he added.He further opined that Guyana’s economy is significantly dependent on natural resources, traditionally gold, diamonds and the forestry and fishing sectors.“Now with oil coming up in the future, we’ve got to be proactive to ensure that we set things in place,Cheap NFL Jerseys,” Bernard emphasised. He went on to note that the new coalition government has promised “positive things” such as the setting up of a fund to ensure that the oil revenues benefit generations in the future. However, Bernard said, “We have to see those things materialize and set up in such a way that it actually realizes the goals that were set out.”One area that Bernard believes the new administration should focus on is getting the Extractive Industries Transparency Initiative (EITI) underway. The EITI is a global standard used to promote open and accountable management of natural resources.“The EITI has been something in the works for years now and we’ve gone nowhere. We have committees, we have feasibility projects being conducted, but we’re going nowhere,Air Max 90 Black And White Leather,” Bernard said.He said too that consultations had been a part of the previous process and though it had been a step in the right direction, Bernard said that these consultations fell short because they were not widespread.“The consultations are a good thing to ensure that we have freed ourselves from corruption and that things are accountable…but they were certainly not down to the grassroots,” he pointed out.He stressed the need for broad-based consultations if the EITI is embarked upon as it would allow for transparency in the entire process.  “The EITI is something valuable to Guyana. In Trinidad,Cheap Jerseys From China, they have been extracting oil for a number of decades. Their implementation of the EITI has been valuable for them to making things open,” Bernard emphasised.He explained that the initiative would track revenues generated from the industry and match these revenues with what the government is saying it received. The initiative would also monitor where those funds go.“So you get a report that’s significantly detailed. If the industry says it received $10billion, then the government has to say it received $10billion. $10billion can’t change to $9billion or anything of the sort. So those kinds of things would be valuable and therefore, in our push for ensuring that the natural resources sectors in general are free from any sort of corrupt activity, we’re going to be looking at those kinds of initiatives,” Bernard said.He added, “We need to ensure that you have not only the talk of things being free from corruption but that you have data to demonstrate it.”TIGI is a watchdog body that has been around for a number of years. Last week,Nike Air Max 2018 Womens, Bernard was elected president of the body’s 2015-2016 Board of Directors.