Exxon is weeping for itself

Mar 11, 2022 Editorial

Kaieteur News – American oil giant, Exxon, is singing the blues, and in advance of any heartbreak. The power people in the company are crying out in public, in hopes of attracting some sympathy, some much needed goodwill. Neither is forthcoming, not in America, where record oil profits have now returned with a big bang, and certainly not in Guyana, where the company has no friends, other than compromised and collaborating leaders and crooked insiders in the PPP/C Government.
Exxon’s people are beating their breasts in the local press, and before all who bother to listen to them, about how much the company would be hurt, if what is in motion now is allowed to succeed. It is about how much its plans and operations would be subject to derailment should any element be tampered in the Production Sharing Agreement (PSA) signed by the previous Coalition Government on behalf of the people of Guyana. We at this publication make our position clear, if it was not heard nor known before. The company could take the crying somewhere else. It could take it (to use an American expression that should be familiar to the company’s people) to where the sun don’t shine. The best we think of those tears is that they are of a crocodilian stream, so highly hypocritical they are and so deeply offensive. It is setting up Guyana, like the ferocious, ravenous predator named, for yet another kill.
Exxon made a killing with that lopsided, one-sided, blind-sided, two percent royalty deal. Its CEO knows that, so does its board, and so do all of the company’s employees and their families who feed off of Guyana’s oil wealth, while the mass of Guyanese people is poorer for their natural resource riches. Exxon’s heavy hitting investors, deep pocketed shareholders are all familiar with what Guyana has come to represent to the struggling company’s bottom line, meaning its profitability, and thus their personal and corporate prosperity. Guyana is their rescue package, and Guyana’s oil wealth is the milking cow that must not be relinquished.
Not a single dollar of taxes that Guyanese pay for this rich American oil monstrosity. Guyana and its poor, struggling, and hopeful citizens must be squeezed for all that can be gotten out of them, in order that Exxon and its own can flourish extravagantly. Not one penny of any tax dollar must be given up, without the most grueling of fights, and it doesn’t have to be a fair one, or one in the open and on the level. Not one percentage point of royalty must be surrendered by any means, fair of foul, judicial or otherwise, so that Guyana is on the receiving end, and Exxon is the one doing the giving.
This is the state to which the people of Exxon are working themselves into, akin to the manner of well-paid professional mourners at a funeral. They are doing so while they collect with both fists, and pockets already full to overflowing. It is not Guyana’s oil, but its blood that this American corporate oil cannibal guzzles, and always with an insatiable lust for more. The company did so well on Guyana’s oil that it can swagger and celebrate. It went from its worst financial performance in 40 years, to one of its grandest of all. From a loss of US$22.4 billion in 2020, Exxon recorded a staggering profit in 2021of US$23 billion, for a total turnaround of just over US$45 billion. A goodly fraction of that is from the cash cow and breadbasket for Exxon that is Guyana. But it has nothing to give to Guyana in good faith, as a good capitalist partner.
The executives and board of the company could announce a buyback of US$10 billion in shares, but they cannot afford to give a dime back to Guyanese. This is the weeping and wailing coming out of Exxon’s chamber of horrors. Americans are raging at being robbed at the pump, not at Vladimir Putin, but at oil companies like Exxon registering record profits from gouging the public. Guyanese are being robbed of their heritage, present, and future, and Exxon cries and resists.

Latest News

Exxon is weeping for itself

Related

Similar Articles

The Glenn Lall Show|| April, 7th, 2025

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

Berbice ease past Demerara in low-scoring match

Upper Demerara suffer 8 wicket loss as Lakeram...

Joshi is the new National 2025 Women’s Chess...

Kares Engineering renews title sponsorship of One...

Harpy Eagles looking to put old rivals to bed,...

Windsor Estates reigns supreme at AmCham Golf...

Features/Columnists

The geography of pettiness

The U.S. “Joining” the Commonwealth: an unreasonable expectation

Police violence – life is cheap in Linden

Publisher’s Note

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]

Exxon is weeping for itself

Share this:

Related

Similar Articles

The Glenn Lall Show|| April, 7th, 2025

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

Features/Columnists

Publisher’s Note

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]