Glenn Lall exposes Jagdeo’s ‘sinister whirlwind’ of doublespeak

Jun 04, 2023 News

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…says VP cannot be trusted, should be removed from office

Kaieteur News – Fair-oil-deal advocate and businessman, Glenn Lall has called on Vice President, Bharrat to step down from office or be removed, accusing the former president of  poorly managing the oil and gas sector and also constantly misleading citizens about same.

Mr. Lall, who is also publisher of the Kaieteur News said Jagdeo cannot be trusted, exposing instances of the VP’s doublespeak.

Jagdeo has been accused of championing the cause of ExxonMobil over Guyana, although the American oil giant has thus far refused to renegotiate a lopsided oil pact it signed with the former APNU+AFC Government.

It is not the first time Lall has called for the removal of Jagdeo. Several other Opposition spokespersons have also made similar calls.

Speaking in one of his recent TikTok presentations, Mr. Lall said every citizen must listen to Jagdeo and assess whether he should still be sitting at his desk as a so called  “defender and protector of Guyana.”

He noted that before Justice Sandil Kissoon delivered his landmark ruling compelling the Environmental Protection Agency (EPA) to ensure ExxonMobil gives Guyana unlimited parent guarantee in the event of an oil spill here, he (Lall) had asked Jagdeo at a news conference on March 3, 2023 about the very issue.

In his response Jagdeo said that he had agreed with Mr. Lall on the urgency of having such guarantee and that he had even stressed this to the EPA, saying they should insist on a deadline for ExxonMobil to provide such a guarantee.

“However, now that Justice Kissoon has since ordered Exxon to provide Guyana with that same Parent Company Guarantee that Jagdeo and his EPA didn’t get until today to safeguard Guyana and the region, the same Jagdeo has appealed the decision. Man, on hearing that judge’s decision, within hours, Jagdeo instructed the EPA to appeal it.  A few days later, he went further to get the State also, to file an appeal to that full protection the court ordered for Guyana. Now you tell me, if Jagdeo was honest, if Jagdeo was truthful, when he said umpteen times, he is working towards protecting this nation with that Parent Company Guarantee.  Tell me if this man is not a sell-out -saying one thing yesterday to the nation and meaning something else in his heart,” Lall said.

He rhetorically asked whether Jagdeo should ever be trusted “with our future and that of this region?”

“He nor the EPA didn’t get it, the Judge ordered it, then he turned around and instructed the EPA and the State to appeal the Judge’s decision protecting us.”

In the judgment handed down on May 3, 2023, Justice Kissoon ruled that Exxon’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL) is in breach of its permit which, in the court’s view, unreservedly calls for unlimited insurance protection in the event of an oil spill.

The Judge also issued an Order of Mandamus directing the Environmental Protection Agency (EPA) to have EEPGL produce on or before June 10, 2023, the unlimited liability Parent Company Guarantee Agreement and/or unlimited liability Affiliate Company Guarantee from an insurance company with standing and repute that equates to Grade A Plus. Failure to comply will see the permit being suspended.

But in making the case for the government to appeal the decision, Jagdeo told reporters at a May 4, 2023 press conference: “we all want to ensure that as a country, in the case of a spill, and hopefully it never happens, that we have adequate resources to cover all of the liabilities associated with that… So we all want this. But we also can’t be shrill or capricious in our dealings, particularly at the level of our regulatory agencies to get that outcome.”

Jagdeo said it is critical that the government pursues diligently and professionally in its efforts to get insurance coverage that will meet all the circumstances should there be an adverse event offshore. He also said it is crucial for institutions to act in a manner where decisions are not made on the premise of economic nationalism.

Jagdeo also said it is incumbent on the courts to produce judgments that are well reasoned, adding that the EPA’s efforts on securing various forms of insurance in the oil sector should not be overlooked. The Vice President said the regulatory body has been in discussions for over a year now with Exxon to secure a US$2B parent guarantee for the Stabroek Block. He said those discussions concluded recently.

He also noted that the EPA has so far secured a US$600M insurance package from EEPGL, the premium for which is being paid using revenues earned from the sale of Guyana’s oil resources. If that insurance premium is increased, he said it is Guyana that ultimately pays. He further noted that the EPA can liquidate EEPGL’s assets if needed to cover costs relating to an oil spill. He said the Exxon subsidiary now has US$6B to US$8B in assets based on its balance sheet.

Jagdeo said the foregoing therefore arms Guyana with three mechanisms that can be applied to cover the expenses associated with clean up, restoration and compensation for an oil spill. He also refuted claims or contentions that government should secure unlimited insurance coverage from Exxon. “What would be the premium for this unlimited insurance?” asked the official at his press conference. He said, “There is nothing like that in the world of insurance. You can have coverage but even then, there is a defined risk.”

Based on the foregoing grounds, the Vice President is of belief that the recent High Court judgment is therefore flawed and must be appealed by the EPA.

Meanwhile, Jagdeo during a May 25, 2023 press conference was asked by this newspaper in the event of an oil spill offshore Guyana, what will the Government of Guyana (GoG) do to ensure that Guyanese do not have to foot the bill. The Vice President responded, “The thing is that, you’re asking me a hypothetical question…” However, he explained that looking at what has happened globally with other countries when it comes to oil spill, most of the US-billions of dollars that countries get are from taking the oil companies to court and winning the case. He continued: “they didn’t come because the companies are voluntary, even in the US (United States of America) … and in the UK (United Kingdom). So I see figures quoted (US) $85B and (US) $50B and if you look at it, it wasn’t for the cleaning up of the spill but the compensation and a lot of those didn’t originate because of guarantees they emerge from court cases.”

Jagdeo also said: “whatever guarantee Exxon gives at the end of the day it comes back to we will pay for it.” The Vice President explained that he expects there would be litigations and that is how he anticipates it would be dealt with. At his press conference, Jagdeo admitted that oil and gas companies are not altruistic. “They are not in this for the good of mankind they are here to make money and it’s as simple as that they come to make money from the country,” he said.

Reacting to the VP’s comments Lall questioned: “This man head good, should this man still be sitting a day more in that chair? You tell me.”

Speaking directly to citizens Lall said: “I told you people many times, I don’t trust a word, much less a sentence out of Jagdeo’s mouth and a few people are upset with me for saying that.  I am so happy that his words and actions are revealing the nature of who this man, Bharat Jagdeo really is.”

 

 

 

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• Bharrat, Glenn Lall has called on Vice President, However, Justice Kissoon ruled that Exxon’s affiliate, now that Justice Kissoon has since ordered Exxon

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