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On oil, the dray is before the donkey
Nov 24, 2020 Front Page Comment, News
Kaieteur News – That dray-cart drags down the donkey. Successive governments have rushed ahead in a beehive of activity with our oil wealth, but they are sluggish to the point of paralysis in doing the things that will nourish that wealth, by watching over it, like a hawk, to get the most out of it. By this, we are talking about our petroleum laws.
Our petroleum laws are not outdated, they are ancient, and they allow foreign exploiters and producers to use them to our disadvantage. Those same laws impoverish us and leave us with little to improve our oil prospects. Clearly, the time for rehabilitating our antiquated petroleum laws is now. It must be the highest priority. Other countries, once similar to us, have already strengthened their petroleum laws for maximum leverage when partnering with foreign oil players.
A compulsory piece of any revitalized Guyanese petroleum laws must be arming us with the power to oversee fully, through monitoring and authorizing and verifying to the fullest extent, every aspect of the exploration and production of our oil wealth. The same goes for the related finances, which should be built into new laws and any offshoots of such laws. Last, after having such robust laws, they must be enforced constantly.
If we do so, Guyana can become a rich and respected oil haven, and not the tricked and mocked place that it is today. Oil is war, and the sooner that we realize this, the better.
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