Latest update April 9th, 2025 12:59 AM
Hypocrisy and contradiction
Dear Editor,
Reference is made to Kaieteur News’ Headline of Apr.10, “Ramotar gave construction company oil block, operations at stand still”.
Certainly, the nation is now being made aware of this signing agreement between a well-known private, business entity, Nabi Construction and the former People’s Progressive Party/Civic (PPP/C) government led by former President Donald Ramotar.
Editor, immediately the question arises as to how many other such agreements may have been entered into, with the former administration, and what are they?
Further, this deal, for that is what it really is, would have been contracted, some time after the initial facilitating of the 600 blocks to Exxon, by the late Mrs. Janet Jagan, President of Guyana at that time.
Therefore, given the not-so-long-ago made suggestion of auctioning whatever blocks do remain, as trumpeted by Bharrat Jagdeo and a few others – one wonders why this very strategy had not been implemented at that time? How convenient and hypocritical have been these so called oil and gas “experts”? Not surprising, given their agenda.
Are we about to be appraised of such further contracts pertaining to the nation’s oil that had been made by the former government and their friends/cronies?
Examining the statistics as stated in the Kaieteur News story, one would have discerned some interesting details with regards to the contract, entered.
There are the similarities of the cost recovery arrangements between the administration and the business entity; particularly the 50/50 share of the profits after deduction of costs, and that which has been the current cause of so much vitriol by the so called “experts’’.
In fact, the 2016 contract, would have contained some modifications, including the extra 1% royalty.
I stand to be corrected by saying that what is further interesting is that the receiving party has ensured that it does not lose in any way, by ensuring two cost recovering percentage ceilings of 70%, if the price per barrel were to be above $100; and 75%, if it dips below. The contract also gave a very generous licence in terms of dollar cost, lower than those given to Exxon and others.
Editor, the discovery of oil in vast commercial quantities as have been announced by Exxon since May 2015, was bound to generate and catalyze national debate, given its widespread implications for the political-social-economic future for the people and country of Guyana.
A lot has been said, no doubt from persons who have a genuine interest in their country. However, arising out of all the opinions/views, has been an identified few, whose attacks, have subtly centered specifically on the type of government, which has been leading the preparation of the oil and gas process. This has been because of the traditionally held social view, that a certain kind of people do not possess the wherewithal to deal with economic matters.
The Kaieteur News story, underlines not only the aforesaid view, but also the contradictions and hypocrisy that continue to surface in the national debate over the oil and gas contract.
Regards
Earl Hamilton
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