Latest update April 7th, 2025 6:08 AM
Lawyers reject comments by Economics Professor… “Guyana wants renegotiation not scrapping of oil contracts”
The recently held ministerial caucus has earned the Government scathing criticisms, on two particular grounds. The first is that many critics are of the belief that a forum which speaks to the protection and proper management of Guyana’s oil wealth should include as many stakeholders as possible.
The second point of contention was in relation to comments by world-renowned expert and Professor of Economics, Sir Paul Collier.
Regardless of what flaws it may possess, Sir Paul opined that it would be absolutely “disastrous” if Guyana were to tear up the ExxonMobil contract. He said, “If you tear this contract up, nobody else will come…” The Professor also stated that it would destroy Guyana’s credibility while having deep implications for the investment climate.
While consideration must be given to the Professor’s position, there are several locals who could not agree with Collier’s position.
Chartered Accountant and Attorney-at-Law, Christopher Ram told this newspaper yesterday that he does not share Collier’s view at all.
Ram said, “I reject the statement with regard to scrapping contracts. Nobody said anything about that and so it is a red herring. What we are saying is that the contract should be renegotiated and there is sufficient ground for this to happen.
At best, I would ask that the government takes the position from those individuals like Collier as just one set of views and not as some divine edict.”
Attorney-at-Law, Melinda Janki was also asked to give her take on Collier’s comments. She found it impossible to concur with the Professor’s statements.
The International lawyer said, “No. With all due respect to Paul Collier, I think he has misunderstood the issue.
I am quite sure that he is not aware of the legal challenges to this deal or that there are various legal grounds for challenging this proposed oil production.”
She added, “I am certain Paul Collier would agree with me that it is essential for the Government of Guyana and the oil companies to respect the rule of law and to comply with all of Guyana’s laws.”
Janki, who has worked as an in-house lawyer for British Petroleum (BP), insisted that all oil activities should be halted until it is clear that the government and the oil companies are fully complying with the law.
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