I am really disappointed in VP Jagdeo

Dec 13, 2022 Letters

Dear Editor,

I take note of your lead article, ‘Jagdeo agrees with Exxon that Guyana getting 52% from Stabroek Block deal’, and wish to comment as follows:

Two illustrations: (1) Assume total production is 100 barrels, 75 barrels go for Cost Recovery. Remaining 25 barrels are considered profit and are split evenly – 12 and half barrels to each of two partners (Oil Company and GoG). Technically no one can argue with the statistics. Guyana is getting 12.5 barrels – and that’s 50% of the profits.

(2) Assume total production is 100 barrels. In this case, 90 barrels go for Cost Recovery. Now the remaining 10 barrels are split evenly – 5 each to Oil Company and GoG. Who will argue with this result? GoG is getting 5 barrels – but this is technically/statistically speaking 50% of profits.

Twelve and half barrels in one illustration represent 50% of profit. In the other 5 barrels represent 50% of profit. What leaps off the page into your face? Twelve and a half barrels vs 5 barrels. The gap here is huge. But Exxon is willing to argue Guyana is getting 50% of the profit. And, they go further – hitting us in the face with these brainwashing billboards. The grade school kid would be fuming. Try telling him 12 and half barrels and 5 barrels are the same thing – 50%. And, we the citizens must be happy. Look, we are getting a whopping 50% of profit.

I am really disappointed in VP Jagdeo. He betrays no disgust to indicate this statistical 50% is very misleading. The Billboard is intended to brainwash the Guyanese people into accepting an extremely lopsided contract. Dr Jerry Jailall over a year ago has said VP Jagdeo and Exxon are on the same side of this issue – opposed to the Guyanese people agitating for a Fair Deal contract.

Reverend Calvin Butts, a Pastor in Harlem in the 1980’s spoke out against misleading/brainwashing billboards promoting drugs and prostitution. Then one day he took a bucket of paint and a long paint brush – and painted over the billboards. No one dared to arrest Rev Butts. Even the Mayor of the City and the Police Dept. silently approved of Rev. Butts righteous stand for truth and morality. Guyanese people should emulate Rev. Butts. Take a stand for truth even if you get arrested. It is civil disobedience. Gandhi says: Lies and wicked deception/brainwashing must be opposed.

Regards,

Mike Persaud

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I am really disappointed in VP Jagdeo

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