Latest update November 2nd, 2024 1:00 AM
Latest News
- Exxon says oil production in Guyana increased by 60% since last year
- Guyana’s oil funds can fund modernization of electoral system-AFC
- Israeli attacks kill dozens in Gaza, Lebanon as ceasefire remains elusive
- Six-year-old child dies after swallowing thumbtack at Crane school
- Acting Chief Magistrate now assigned to preside over Elections Fraud case
The only way to protect the Guyanese people now is to leave the oil in the ground
DEAR EDITOR,
Let us deal with facts not fantasy.
1. Renegotiation is not an option. In the real world oil companies don’t reduce the return to their shareholders unless they are forced to. They are not going to be swayed by the views of 610 people. Guyana has nothing to renegotiate with. The government has given it all away.
2. The contract says no renegotiation.
3. When you have illegalities in a contract you don’t renegotiate. You strike down what is unlawful. Then you are in a strong position to start again. A country that does not uphold the rule of law is well on the way to corruption fueled by greed.
4. It is prudent to ask who is pushing the renegotiation line. Who wants to fool the Guyanese people? Who wants to distract the Guyanese people away from demanding that the law is respected? And why? Would these same individuals tell the European or American governments not to strike down illegalities, but to renegotiate? Let us not be naïve.
5. It’s time to stop flogging a dead horse. Any competent energy analyst will tell you that fossil fuels are on their way out. The change is happening faster and faster. There is already US$3 trillion of stranded fossil fuel assets in the global economy. Guyana is attractive to oil companies precisely because they can get the oil so cheap.
Guyana bears the risk and will be saddled with costs for stranded assets, abandoned wells, well blowout, environmental devastation, social costs of oil, climate change made worse by greenhouse gas emissions from Guyana’s oil etc. etc.
Let us deal with facts not fantasy. The only way to protect the Guyanese people now is to leave the oil in the ground.
Melinda Janki
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