Missed opportunities or deliberate mismanagement

Sep 01, 2022 Editorial

Kaieteur News – The issue at hand in Guyana is whether we are dealing with missed opportunities on the part of the PPP/C Government, or mismanagement of a possible deliberate kind by leaders. Though we have spoken on this before, we must do so again today, and the more we do so, the shabbier and sicker this PPP/C Government comes across. It all has to do with real-time monitoring of costs in our oil and gas sector.

Vice President Bharrat Jagdeo, Guyana’s Chief Oil Minister, is on record as asserting that this country’s 2016 contract with ExxonMobil does not have provisions for real-time monitoring of costs. Though we have very little confidence in most things that the Vice President puts out on anything, we still pay attention to what he offers. Because this is how this government and its powerful people show their hand, and confirm who they are for first, and where they stand, when the interests of Guyanese are in the balance. Whatever are Mr. Jagdeo’s objectives, there can be no arguing that Guyana does have the power to monitor the companies’ expenses, and in real-time too. It is as clear as day in the contract, with wording that reinforces such an assertion and conclusion.

We grapple with how a leader possessing the energy and work ethic of Vice President Jagdeo could have missed it. Incredibly, not only is there provision in Section 7.1 of the 2016 oil contract, but there are multiple such provisions in the most robust language possible. In effect, what this country has for real-time monitoring of costs is layer upon layer of very helpful provisions. It is astonishing that these went over the head of the savvy and attentive Vice President Jagdeo, which is missed opportunity number one. It is also astounding that the Hon. Minister of Natural Resources, Vickram Bharrat, a man of some known learning, and under whom the responsibilities for real-time monitoring of costs are vested, appears to be ignorant of the powers that Section 7.1 place at his disposal. This is missed opportunity number two. Still further, it is amazing that the staff at the Ministry of Natural Resources (and other closely associated State Agencies), especially those whose primary duties are their involvement with Guyana’s oil and gas matters are either clueless, or blind and deaf and dumb, to what is embedded in Section 7.1 of the 2016 contract. This is missed opportunity number three, and it is by more than the proverbial mile.

When we take all this into consideration, as it encircles Vice President Jagdeo, Minister Bharrat, and other heads and hands intimately involved in our oil and gas sector, we are left with no choice but to put a hard and sharp question before all Guyanese. Was the failure to notice, the lack of discernment, and the absence of wisdom relative to the clauses of Section 7.1, and the powers that they give to Guyana for real-time monitoring of oil companies’ costs, a case of genuinely missed opportunities, or is there much more at work here, and which is beyond the comprehension of ordinary citizens?

We cast no aspersions on anyone, but this is more than gross negligence, it is a terrible dismissal of trust placed, a troubling and costly dereliction of duty. It seems that everybody was asleep at the wheel, and this is while oil operations (and the related billions in bills) are rushing full speed ahead. Incidentally, this is putting a kind and courteous touch on things, which we do not believe is deserving. To put a decent spin on this governmental and leadership failure, across the board, it is mismanagement at its sloppiest. In the next breath, and to view harshly, this mysterious lapse by so many could be representative of all that has gone wrong in the chronic mismanagements of this oil, since its very first days.

Once again, Guyana’s loss is the gain of ExxonMobil and its partners enjoying unchecked prosperity from our surprising weakness, our pretended ignorance, and our lack of timely insights, some of which are suspicious, others opening the door to the worst kinds of speculations. Because governments and leaders have not been straight with us, this is where matters settle.

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