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“You have a government that is reckless about what is going to happen to Guyana,” said Melinda Janki, an international lawyer in Guyana who is handling several lawsuits against Exxon. It’s pursuing “a supposed course of development that is actually backward and destructive,” she told CNN. kelp dao And while plenty of Guyanese people welcome the new oil industry, some say Guyana’s startling economic statistics do not reflect a real-world prosperity for ordinary people, many of whom are struggling with the higher prices accompanying the oil boom. Inflation rose 6.6% in 2023, with prices of some foods shooting up much more rapidly. “Since the oil extraction began in Guyana, we have noticed that our cost of living has gone sky high,” said Wintress White, of Red Thread, a non-profit that focuses on improving living conditions for Guyanese women. “The money is not trickling down to the masses,” she told CNN. CNN contacted President Ali, the Ministry of Natural Resources and the Ministry of Finance for comment but received no response. Guyana, a former Dutch then British colony which gained independence in 1966, is one of only a handful of countries that is a “carbon sink,” meaning it stores more planet-heating pollution than it produces. This is due to its vast rainforest; trees remove carbon dioxide from the atmosphere as they grow. The country has protected its biodiversity where others have destroyed theirs, President Ali said in a BBC interview last year. In 2009, the country signed an agreement with Norway, which promised Guyana more than $250 million to preserve its 18.5 million hectares, or nearly 46 million acres, of forests. Ali insists the country can balance climate leadership and fossil fuel exploitation. The new oil wealth will allow Guayana to develop, including building climate adaptations such as sea walls, he has said. He has also pointed to the continued failures of wealthy countrie

Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs. kra26 сс As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said the economic chaos was hitting too close to home. kra9 Some said they are pausing big-ticket purchases and reconsidering home renovations, while others said they fear their quality of life will be adversely affected by all the turmoil. “I’m just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover,” said Paula, 68, a former occupational health professional in New Jersey who retired three years ago. Paula, who spoke on the condition of anonymity because she feared retaliation for speaking out against Trump administration policies, said she was worried about what lies ahead. https://kr13at.com “What we’ve been doing is trying to enjoy the time that we have, but you want to be able to make it last,” Paula said Friday. “I have no confidence here.” Trump fulfilled his campaign promise this week to unleash sweeping tariffs, including on the United States’ largest trading partners, in a move that has sparked fears of a global trade war. The decision sent the stock market spinning. On Friday afternoon, the broad-based S&P 500 closed down 6%, the tech-heavy Nasdaq dropped 5.8%, and the Dow Jones Industrial Average fell more than 2,200 points, or about 5.5%.

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