Jagdeo says: I do not trust gov’t with “carpetbagger” oil companies

Mar 30, 2019 News

The Leader of the Opposition has said that the current A Partnership for National Unity + Alliance for Change (APNU+AFC) cannot be trusted to steer the country’s oil resource well, with certain oil companies, which he describes as “carpetbagger” companies.
In American political history, the term ‘carpetbagger’ was used by former Confederates to describe persons or companies who came to exploit the local populace, and saw business or political opportunities because of the chaotic state of the local economy or society.
Jagdeo said that there is large scale theft of resources occurring by direction of this government, and that its dealings with certain oil companies are yet another slew of issues to worry about. He was, at the time, talking about the government’s collaboration with Chevron.
“So, we’ve seen all kinds of activities. I’m not saying Chevron is one of those [carpetbaggers but] Chevron is collaborating with Critchlow Labour College to do a three-day training with the kids from the area,” Jagdeo said.
“The government is saying, ‘after the three days, we’ll guarantee you a job’. Now, how could you – with three days of training – guarantee a job in the oil sector? I don’t know who is funding this but that’s what they’re telling the kids.”
“This government is very tight with some of the oil companies, particularly the carpetbaggers who came now, to get some help here, and I don’t trust them.”
Jagdeo voiced his worry that the government is not competent enough to guard against corruption by those oil companies.
The Global Witness, an anti-corruption NGO, had stressed time and again, on the importance of countries doing proper due diligence before handing over its oil resources for exploitation to the best bidder.
The Global Witness had stated that selecting the best companies with good track records on environmental and social protection, and the financial and technical capabilities to extract the maximum amount of oil with the minimum of harm is essential.
It had said, “Poor or corrupt allocation processes can lead to companies without the relevant expertise, or with no intention of extracting themselves, gaining rights to exploit a country’s natural resources.”
“In the worst cases, rights can be handed to companies, which represent corrupt interests leading to poor contract terms, delayed production and lost revenues for the host government,” the NGO had stated.

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Jagdeo says: I do not trust gov’t with “carpetbagger” oil companies

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