Dear Editor,
On the 1st of May a letter was published by me, captioned “Do we have the strongest laws re oil money” I wrote the following: “I am not an economist, so forgive my lack of understanding. That is why I am writing to the press to seek some answers. I got the impression that based on some figure, I think 60 USD a barrel of crude, cost oil would be 75%. The 25% would be divided up between Exxon and Guyana. I am asking if, considering that crude is being sold at over 80usd, cost oil should be a lower percentage. If not, is EXXON getting a huge wind fall?” By the way if we are paying the taxes for EXXON are we really getting 12.5%?
I really expected someone with the necessary experience would have written to clarify whether what I wrote is correct and indeed we are being taken for a ride by EXXON with full support from the PPP government. I must note though that neither EXXON nor the Government of Guyana has written to refute what I wrote. Or is it that I missed their denial? I also challenged the VP statement that Guyana has the strongest Oil money law to protect us. Our law punished the Finance Minister for not informing us of withdrawals from the fund and contains nothing, as other countries, that punishes the Finance Minister for misspending our money. So, citizens of this country understand that the Finance Minister could spend or miss spend our money with no accountability and with impunity. This obviously means the PPP leadership.
The VP has not denied this as I stated this in my letter. It is either he knows better or he did not know as he lacked the necessary knowledge. I wonder if His Excellency the President is aware of this. I hope he acts to remedy the situation or we have to take it that he has no problem with the status quo and is willing for Exxon to continue ripping us off seemingly with his consent as he seems unprepared to remedy the situation. We hear the term “sanctity of the contract” as the reason, according to the VP, for not attempting to renegotiate the oil contract. I am wondering why then, during the campaign and in Parliament, both the VP and the President stated that they would renegotiate the contract. Were they not aware of the “sanctity of the contract”?
If they were not, then fine but if they knew then did they deliberately lie to the electorate? Is that why they barely scraped a one seat majority? Whatever the reason, they are reneging on their promise. So, let’s deal with the “sanctity of the contract”. There is not a single entity, international nor local, except the one paid by the coalition that has not stated that is a sellout contract, a disgraceful contract. Under these circumstances how can we consider that this contract possesses any sanctity?
This is one of the unholiest, immoral, unrighteous contract ever conceived in this country. I cannot fathom how intelligent upright citizens of this country can speak of the sanctity of this contract. Especially when the entire gamut of international bodies condemned it, with many calling for its renegotiation. Some say, well there is a clause within the contract that says it cannot be renegotiated. Well, it is just another clause and the first to be removed in any renegotiation. This government, instead of utilizing means at their disposal to pressure Exxon to come to the table, is actually breaching our laws to expedite the necessary processes.
The recent ruling by the Judge re EPA confirms this. The ruling forces the EPA to carry out its duties to hold Exxon accountable. I hope the government of Guyana does not act contrary to the interest of Guyana and appeal this. I am beginning to consider that the EPA is independent but dance to the tunes of the political hierarchy. No other than Chatham House Expert, Dr. Valerie Marcel stated that there are many ways to bell the cat. She said, “Every time they ask for an extension, every time they want to avoid penalty, every time they come back asking for something … and the companies are always coming back asking for something, each one of those opportunities is a moment to negotiate something and to trade for something you want”.
She stated that the Payara Field Development Plan was one opportunity for Guyana to capture value. Well, there were a lot of calls in the press for the VP to do just this but we recall the haste in which the VP signed off on this project. Some PPPites are recognizing Bharrat Jagdeo to be the father of the nation but I am beginning to wonder whose side he is on, whose interest he really represents. The political hierarchy seems to be complicit in the alienation of the Guyanese people from their patrimony, thus depriving future generations of their inheritance.
Sincerely,
Rajendra N. Bisessar
BSC Sociology, LLB
