Oil and Gas a Winning Electoral Strate

Aug 30, 2019 Letters

DEAR EDITOR,

I applaud KN for its focus on how Guyana has been short changed in the oil and gas (O&G) contract signed by succeeding governments with energy companies (royalties, uncapped interest rates, and deduction of costs as expenses, etc. The political parties are not issuing statements on contract renegotiation and use of revenues perhaps to appease (or not to be out of favour with) the energy companies. But Guyanese are becoming increasingly angry over the oil contracts. Oil and gas could become a winnable electoral strategy in the coming elections. Political parties that address this issue and how it will spend the incoming oil revenues stand to make major electoral gains.
Most Guyanese hardly paid attention to O&G in 2015. Even less Guyanese understand the significance or the concept of O&G to the development of the economy. But of late, Guyanese have begun to pay greater attention to O&G thanks to the almost daily coverage provided in the media particularly by KN on how the country has been cheated of a fair percentage of the revenues. KN has been discussing the shortcomings of the contracts with energy companies and those given oil blocks.
Going back to 2016 and 2017, I conducted opinion polls for NACTA on the nation’s views on the O&G sector and on the contracts with the energy companies. Very few Guyanese seemed familiar with the issues. But in recent NACTA polls conducted last year and this year, a rising number of Guyanese are paying attention to O&G and are expressing (displaying) an understanding of how they are being cheated by the energy companies. The Diaspora is also au fait with the contracts. Almost every Guyanese is now saying it is a bad contract. They blame our negotiators for accepting a terrible contract described as perhaps the worst for any country in the energy industry. Almost every professional and those in the know about energy want the contract to be renegotiated. Ordinary or layman Guyanese say the country has been cheated; some even used the word robbed in describing what they were told about the features of the contract. They know they are being taken for a ride as they related in the surveys.
Politicians should not take Guyanese for fools. They will pay dearly at the polls (not opinion polls that disfavour the contracts) but the real thing (elections). Any party that articulates a sound oil and gas policy demanding a fair share of royalties (expenses not deducted first) in accordance with international norms and equitable profit sharing will garner significant electoral support. A large percentage of the population is disgruntled with the handling of the economy and the O&G contracts. Too many are suffering and are openly speaking about the poor state of the economy. Any politician who does not recognise that people are hurting has not been on the ground. They should heed warnings if opinion surveys.
Oil and Gas made the Middle East countries super wealthy. Oil and Gas can also make Guyana a developed nation and every Guyanese super wealthy.
The newly formed minor parties would do well to focus on the energy contracts especially on royalties if they wish parliamentary representation. They will create major upsets in voter support.

Yours truly,
Dr. Vishnu Bisram

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