Exxon, HESS salivating to buy carbon credits, is that a bigger giveaway?

Dec 12, 2022 Letters

Dear Editor,

Kaieteur News – The VP’s securing of the sale of carbon credits is being hailed as an “initiative,” and astute leadership by our VP (See “Astute leadership delivers massive carbon credit deal for Guyana” (Chronicle, Dec. 6, 2022). It may very well be so, but judging from how the PPP Government has reneged on its campaign manifesto to “review and renegotiate” the worst oil contract in the world, and ceding every leverage and point of accountability regarding oil governance, the sale of carbon credits deserves closer scrutiny by the appropriate experts. It would have been nice to see a headline that says, “Astute leadership leads to a renegotiated oil contract that delivers billions more to Guyana.”

When has any Government put Guyana first in all the natural resource permits and contracts? Millions of ounces of gold are mined and exported yet the largest gold miners declare losses at tax time. In the case of oil, we pay the taxes of the oil barons, effectively making a loss on oil if you subtract the taxes we pay on behalf of the oil companies from our income from oil. Both the PNC and PPP have been very secretive about the natural resources contracts. Their default settings to governance are not about full disclosures.

I am surmising that because HESS and EXXON are salivating to buy carbon credits that it must be a sweet or sweeter deal than the worst oil contracts in the world leaving us with the short end of the stick as President Ali might say. Not only do we have the short end of the stick with oil and gas, we are getting shafted in places we would prefer not to be shafted. Did we get a deal on the sale of carbon credits? Why did the government not bring this to the public soliciting ideas, and debate in Parliament to get the views of the Opposition. The carbon credits contracts will tie future governments, and it is important to involve the Opposition and civil society groups in securing a consensus as to what is good for Guyana. The VP alone or the PPP alone is not “One Guyana,” that’s half Guyana. They alone do not know what is good for Guyana. The PPP must govern differently and better, and not benchmark itself to the PNC’s mediocrity while in power. When you critique the PPP, the PPP zealots like to say, “But the APNU/AFC did not do anything.” Would you not fall into a ditch if both the PPP and PNC use each other’s reigns as benchmarks if you want a progressive and 21^st century Guyana? Any emerging Third Force party must promise to trust the people and involve all the people in these important matters regarding natural resources.

The KN columnist “Peeping Tom” has raised some valid questions that will best be answered by a full public disclosure of the carbon creditscontracts. See “This deal may be worse than the oil deal” (Peeping Tom, KN, Dec. 5, 2022). Government must also answer comments by Dr. Janette Bulkan as raised in “NTC must explain legal basis of their endorsement of government’s move to make decisions over Indigenous titled lands” (SN, Dec. 8, 2022). Also, it is being reported that “Hess’ carbon credits could ‘offset’ Stabroek Block emissions for a decade” (OilNow,Dec. 7, 2022). Is this suggesting the oil companies can use these credits to cover ongoing flaring in Guyana?

I call on the Government to release the contracts for the carbon credits. While you are at it, please also release the contract pertaining to “No marketing commission for BP to sell Guyana’s crude – Jagdeo” (Dec. 5, 2022).It’s ‘Our Wealth and Our Country’ and we must care.

Sincerely,
Dr. Jerry Jailall

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