Oil money needs to be invested now to get wheels of production turning

Dear Editor,

The damage that has been done to the United States (U.S.) and consequentially the rest of the world by its own administration over the past four years, is incalculable and will last for the lifetimes of many. One example is the nonchalance with which they handled the Covid-19 pandemic, for many months (and until recently), while it was having a deadly impact around the world. Many lives could have been saved and a lot of grief and chaos avoided for the families, relatives, friends and others associated with the deceased.

In the U.S., there are “dram shop” laws which make a retailer of liquor liable for expenses faced by a customer or his/her family, if the customer becomes drunk, gets into an accident and it was determined that the customer had bought liquor from that store on the same day. This law is applied if the customer or his/her family cannot afford to pay for the expenses arising from the accident. Such a law should be introduced in Guyana. It is especially pertinent now as we see liquor shops and bars encouraging patrons to remain beyond the commencement of the curfew and the number of vehicular accidents that are caused by intoxicated motorists.

Such laws should be in force for actions of elected officials which result in harm to others. They should be held liable. I will not identify the numerous acts of injustice meted out to humans by the Trump administration, for fear of being seen as pedantic or trite. Those of us who keep abreast of current and world affairs and pay attention to events that have deleterious effects on humankind, would probably be aware of that administration’s frequent blunders and negligence. They have committed injustice on people of various cultures, nationalities, race, gender, qualifications, health, religions and those of lower socio-economic status. Some of the actions, like not acknowledging the seriousness of climate change, have not created mayhem as yet.

It would be unfair to pillory the U.S ‘s elected officials without inserting an examination of, or making a comparison with our own government. Our Vice-President, the Honourable Bharrat Jagdeo, has said that the earnings from oil will remain untouched until systems of accountability are put in place. Should it take years for that to materialise? It seems that it will remain untouched for the government’s first term in office. ExxonMobil started to drill for oil while this administration was at the helm. The government had many years to make preparations in the event that Exxon, with its oil extracting efficiency, should strike oil.

As a former Minister of Finance among his other portfolios, is putting aside the oil revenue that has started to accumulate, a competent move by the Vice President? Guyana has already missed an opportunity for much needed development, by entering into an egregious contract with ExxonMobil. The money needs to be invested now to get the wheels of production turning, bring returns and interest. Investments need to be made in alternative products lest Guyana becomes like present-day Venezuela. We have so many resources which could bring great returns, with proper and honest management, creativity and determination, if the interest of Guyana and its citizens is the government ‘s primary concern.

Yours faithfully,

Conrad Barrow