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Don’t assume Exxon will not renegotiate
Dear Editor,
The Democratically Elected PPP/C Government of Guyana should not assume that ExxonMobil will not renegotiate. They will renegotiate. It is just a question of how much more they will be willing to part with. At least try to renegotiate as opposed to fighting ExxonMobil corner.
As for the “sanctity of contract”: if the contract is unconscionable (as the ExxonMobil/Guyana oil contract is because it heavily favours ExxonMobil as well as demands that Guyana pays for environmental damage/cleanup in the event of an oil spill) and/or goes against public policy (as the ExxonMobil/Guyana oil contract is because too many oil blocks were given to ExxonMobil) as well as some people suggest that the contract is illegal (better clarification would be needed here to understand why….over to you OGGN) then it is not enforceable by the courts.
ExxonMobil will renegotiate as it will do anything to protect its shareholders value and will not just walk away from Guyana’s oil.
Sincerely,
Sean Ori
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