The Private Sector Commission (PSC) yesterday said much more should have been done to incorporate local content and greater benefits for businesses here in the petroleum agreement between the government and ExxonMobil’s subsidiary.
In a preliminary statement on the agreement, which government finally released two weeks ago after keeping it secret for more than a year, the PSC also called for world class negotiators for future contracts.
It argued that though the cost of energy is currently the primary limitation to the expansion of business and growth in Guyana, there is nothing in the agreement to indicate that Guyana owning such large oil reserves would translate into reduction of the costs of energy to Guyanese.
