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Review the Petroleum Act
Dear Sir,
There has been much heat generated by Guyanese over the discovery of ‘oil’ by ExxonMobil in Guyana.
The debates covered the contract signed by the present Government, to how much revenue Guyana should receive from ExxonMobil. While many of the arguments are bona fide, there are other issues which I believe are just as important and necessary and which we should seriously consider.
Perhaps we should have tabled in Parliament, as early as possible, a New Petroleum Act which seeks to be environmentally sound. This would be crucial, as part of our energy policy and in keeping with the Government’s idea of a Sovereign Wealth Fund (SWF).
Do we have in place proper Health and Safety Regulations for the Oil Industry? Our present Petroleum Act Cap: 92:01 may be a good starting point for consideration.
Attorney-at-Law
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