Exxon’s Esso is not our master; we are the masters of our destiny

Aug 03, 2018 Letters

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DEAR EDITOR,
The passage of time, thus far, has not caused the disinfection and disembowelment of the Petroleum Sharing Agreement between the Government of Guyana and the other parties: namely Esso Exploration and Production Guyana Limited, CNOOC NEXEN Petroleum Guyana Limited and Hess Guyana Exploration Limited.
With our political parties and private sector groups groveling to the corporate behemoth, many with the power to make the change and renegotiate the unconscionable and diabolical agreement have surrendered what will eventually exceed 10 Billion Barrels of Oil, for a ludicrous 2% royalty.
What a tragedy. Our leadership from key sectors is disenfranchising citizens’ right to a fair share of Guyana’s oil wealth. Guyana’s off-shore ten gigabyte barrel oil lottery is Exxon’s Esso 21st century jewel crown, that easily surpasses all of Exxon other ventures for this century, and yet they insult with an embarrassing pittance; we must not be victims or be seen as victims of a marauding super-sized corporation.
The benefits to Guyanese from a fair oil contract for Guyana’s billions of barrels of oil, will exceed by several thousand-fold, any advantage to Guyana’s development, reachable by voting for the People’s National Congress Reform (PNCR) or the People’s Progressive Party/Civic (PPP/C).
It is vitally important that Guyanese and our political leadership recognize that whichever party wins the next few General Elections is far less important, and of little proportional valuable to Guyana, compared to the incredible benefits and wealth that will be obtained from a renegotiated, fair oil contract.
Does anyone seriously believe that if Guyana cancels the contract with Exxon’s Esso et al, that we will not have suitors queuing and offering us fair compensation to access the black gold find of the century, discovered in Guyana’s waters. With a fair contract we will easily repay costs incurred by Exxon’s Esso and still be left with a huge bonanza for Guyanese.
We must show the courage to avoid being robbed daily for decades to come. Courage must be a byword for being Guyanese. To cull from the wisdom of Alexander the Great: “Nothing is impossible if you try”; while the Frenchman Michel de Montaigne noted in one of his more influential essays “Our experience of man and things should not be perceived as limited by our present standards of judgment. It is a sort of madness when we settle limits for the possible and the impossible”
Fortune favours the brave, but the coward is spoilt by his faint heart. Why must we cower before Exxon; when we have 10,000,000,000 barrels of light sweet crude oil, the most sought after high-quality oil in the world. Let courage be symbolic of being Guyanese, we must not at this moment of fortune, deny ourselves what belongs to us. William Shakespeare is again on our side when he noted “There is a tide in the affairs of men, which taken at the flood, leads on to fortune. Omitted, all the voyage of their life is bound in shallows and in miseries.”
This 2% madness must not become a standard for abuse and exploitation of the resources of developing countries. This issue goes beyond politicking in Guyana. United we can change the pittance royalty from Exxon, the tiny crumb royalty that rats would ignore; as ants’ scurry and content themselves with the tiny crumbs. We are neither rats nor ants, and what nature and fortune has bestowed upon us, must allow us to have at least 10% royalty of the gross value of the oil. It is the minimum acceptable standard that will guarantee wealth and respect for and to Guyanese.
Let our Grangers and Jagdeos collectively embrace courage, and become legends in Guyana, the Caribbean, and heroes to our brothers and sisters in Africa and India. We are made of sterner stuff. Everything seems impossible until it is done. What a monument to bravery and justice our Guyanese leadership will represent, when we stand together and act for what is right, by renegotiating and discarding this most ungodly contract. Why must we be hewers of wood in the 21st century for Exxon? What is there to fear? The oil is ours; let us act like owners and leaders.
I say with absolute confidence that Burnham, Jagan or Rodney would never have allowed this rubbish contract to see the light of day. Let us fortify ourselves at this moment in time; and not reject our fortune. The outrageous final kicker is Exxon’s Esso invoicing Guyanese for US$460 Million; this ridiculous invoice would have Burnham, Jagan and Rodney – rolling on the floor laughing, and thinking it is good that we are now emancipated, independent and free.
All the great maxims and precepts referenced above were written to inspire courage, and in this spirit, I say to our leaders – renegotiate this dishonourable contract now. Let us not reward extreme greed, let us obtain a fair share of the oil wealth for Guyanese. Exxon’s Esso is not our master; we are the masters of our destiny. Let us take sanctuary in doing what is right and just for Guyanese.
Nigel Hinds

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