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Weekend Cartoon
Exxon is a freeloader!
Sep 29, 2020 Front Page Comment, News
Exxon is saddling the Guyanese people with hundreds of millions of US dollars in PRE-CONTRACT COSTS. Even before, Guyana earned a single dollar from the company’s operations, it was billed US$460 for pre-contract costs up to 2015 and another US$500M for the period between 2015 and 2017, making a grand total of US$960M.
To add insult to injury, no Guyanese can verify what Exxon is doing a hundred plus miles off our coast. Yet, Exxon has billed us, and we have agreed to pay, almost a billion US dollars for things which we cannot verify. Why would our government agree to pay such costs?
Having given away the Canje and Kaieteur Oil Blocks in a secret deal to mysterious friends, it as if we are now paying Exxon, through these exorbitant pre-contract costs, to take the blocks off of our hands.
Exxon is ruthlessly taking advantage of Guyana’s lack of experience in the oil industry. And they are doing this with the connivance of our political leaders.
If we continue this way, the oil may not mean prosperity but tragedy.
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