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Future-Oil Dividend Payouts to Guyanese

Aug 24, 2020 Letters

DEAR EDITOR,
It’s not too soon to bring this topic up, but the state of Alaska, in the US, has a population of under 1 million like Guyana, and in 1976 established the Alaska Permanent Fund (for future and current generations) which gives residents, yearly oil dividends, as they have an abundance of oil and natural gas. The oil windfall Guyana will get yearly is three times what Alaska gets, if that’s managed properly.
A situation where Guyana will be flush with funds, will do strange things to politicians, especially when it comes to oil. The dividend is one way to hold the government financially accountable, at least to an extent, maybe curb waste. I hope no Guyanese thinks that millions, maybe billions of the oil windfall will Never end up in foreign personal/shell accounts belonging to certain individuals. It’s NAIVE for anyone to think this situation will not happen.
To my fellow citizens that may flat out dismiss the idea because of all the top priority projects/debts, etc, etc, that need to be taken care of now, my suggestion will still not change; even if the following scenario exists, which is; no hidden financial dealings of any kind, outside of national security interests. Transparent financial activities. No pet projects or other projects with no clear value add for Guyana. No bloated contracts. No cost overruns, and so forth.
I suggest only resident citizens from the age of 21 and over, who were actually born in Guyana, and/or have either parent born in Guyana. Most importantly to participate, an individual cannot have any criminal police record of any kind.
My fellow Guyanese, let no one think that there won’t be porous avenues to divert funds (that’s why the world, not me, calls it a windfall). Some people will take advantage. The proposed dividends will be petty cash, compared to what will be siphoned out of the country in whatever form, to do or purchase whatever asset – sometime down the road!
These things happen. It’s just a FACT.
Back to Alaska. It’s one of the most beautiful places in the world with natural wonders. Apart from having citizens proudly protecting their natural wonders and environment at all costs, residents have had yearly oil dividends, from oil income for 44 years!!! And who’s one of the main Multinational companies operating there? You’ve guessed it…It’s ExxonMobil.
Yours truly,
Chi Kansi

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