Dear Editor,
I read about the clarion call for a referendum on the Stabroek Block agreement. Not only is this malarkey, but a vapid attempt to ignore the current and future state of oil in the global arena. Investors are also knowledgeable about the dire forecast.
Any referendum regarding oil is one that provides the people of Guyana with an equal amount of shares of the country’s ownership in the Stabroek Block that will pay them monthly dividends, which is totally different from the citizens voting for an increase from the 14.5% of current oil revenues. Revenues are before expenses including debt service and CAPEX. Then there is the return to equity investors for taking risks.
In return for their votes, there is the promise of a trickle down of indirect benefits to the masses. Yet another attempt by the ruling class to present themselves, by chicanery, as having the best interest of the people at hand.
I say there should be a referendum for everything from land distribution to auctioning of wireless spectrum. It has been reported there’s about one gram of gold for every 100 million metric tons of ocean water in the Atlantic. Guyana should request a request for proposals for gold in its 200 miles.
I suggest those who want to be visionaries for Guyana’s future be mindful of the diatribe towards the international code of business and law.
Lastly, Guyana was a signatory to the Paris Agreement then it recently reneged on its commitment with regard to the reduction of hydrocarbons in 2025. For this reason, should there be a referendum with regard to the country’s commitment to the agreement?
Yours faithfully,
Keith Bernard
