We need to stop cheating ourselves

Sep 25, 2020 Front Page Comment, News

Everybody is profiting from Guyana’s oil. God bless Guyana, where anyone touching our oil prospers.

The downturn in the global economy is forcing oil companies to cut costs and downsize their operations. Profits in many cases are expected to decline over the next few years.

Not so with Hess which has a 30% share in the Stabroek Block. The company is projecting a 10% growth in income on the basis of its undertakings in Guyana. It is bragging about the bounty, which it will receive because of the high quality and low cost oil from Guyana.

While companies like Hess are increasing their income and shareholders’ value, Guyanese are being given crumbs for the exploitation of their resources.

It is for this reason that we repeat, for the umpteenth time, our demand for a better deal of our oil. The exploitation of our wealth cannot leave us hungry and hurting while the foreign companies are enriching themselves at our expense.

We cheat ourselves when we refuse to rebuke our political leaders for remaining slothful when it comes to renegotiating flawed agreements, or when we do not demand that they seek a fairer deal for the exploitation of our resources.

We must begin to demand more from our leaders. We must insist on a more equitable deal for our oil resources so that, just like Hess, we too can prosper.

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