Resisting changes to the oil contract

Jan 23, 2024 Editorial

Kaieteur News – Something is going on today that is puzzling. The leadership trio in the PPP/C Government, who have oversight of this country’s natural resources are a picture of dogged resistance to any talk, any appeal, any urging to renegotiate the devastating oil contract. It is a completely different story, from when today’s President and the Vice President were trapped in opposition benches. It raises jumbie of the worst suspicions on this inexplicable stubbornness to seize any opportunity that presents itself for renegotiation of this lopsided oil contract.

When we at this newspaper, study the antics and curious stonewalling by His Excellency, the Vice President of Oil, and the Minister of Natural Resources regarding their repeated collective failures to act in Guyana’s best interests to get the most (or something materially more) from this embarrassing oil contract only some very bad vibes come.

The PPP/C’s own political manifesto contains specific wording on “contract administration/ renegotiation” and about taking a stand and making a move in that direction. But that was in the tensions and heats of elections campaign, which may be the usual empty talk of the political hustings, and nothing more. We can see PPP/C leaders sheltering shamelessly under that skirt, as though it has no meaning now that they are in power, and can have the pride of being Guyana’s rescuer, through actions that set them apart as powerful difference-makers. Both the current President and Vice President, when they were in opposition, are on record as coming out in the harshest terms to denounce this most unfavourable and intolerable oil contract. Their highly critical words and scornful public postures have not spared the Coalition Government for this contract abomination that is the handiwork of its leaders.

But now that the PPP/C is the party controlling the reins of government, its leaders are largely silent, and engage in lengthy disappearing acts. Indeed, they struggle continuously to put as much distance between themselves and Exxon, with any unwelcome talk about contract administration/renegotiation. In so doing, the three leaders mentioned in the opening paragraph of this writing have hurt Guyana, and dashed the expectations of Guyanese. They failed when they had the chance. They dodged and ducked when the opportunity presented itself not once, but twice.

What should have been a given, after all the ‘fat talk’ of PPP/C leaders about renegotiation, they did not take the roads opened to them. There was Payara, and the President, Vice President, and Natural Resources Minister shrank from any confrontation with Exxon’s people, slunk away from getting in their faces with determined talk about renegotiation and doing better for the Guyanese side of one of the most terrible oil bargains ever. It was if they were all fearful and reduced to putty, as well as the liquified flush of the sewer, at the mere thought of facing off with Exxon’s leaders. When we consider the roles of the three leaders, there is some feeling for the Minister, since natural resources, meaning oil automatically falls (or should) under his portfolio. With all the conspicuous leadership weaknesses and cowardice on display, it is obvious that the Natural Resources Minister is the odd man out: a man with a title, and no oil responsibility, no oil influence, not even a say. When we had Exxon over a barrel and vulnerable, with horrible earnings and agitated shareholders, we didn’t go for the jugular.

The same lousy leadership qualities were manifested with the Yellowtail (4th) Project. Every opportunity to make Exxon reasonable is squandered, ignored, or bypassed. This is from leaders who once said that they want the best for Guyanese. This is not only baffling, because of the lost advantages that were not capitalised upon when openings became available. This does not connect, does not make sense, does not add up, no matter which way counted, however generously examined. We have to wonder if Exxon has some hold over this country’s political leaders, which leaves all of them hogtied and helpless. It could be dark secrets involving deep compromises that render them totally useless to Guyana, where this oil is concerned. Unsullied leaders do not hide, or engage in the hijinks that Government leaders display when renegotiation should be urgently tabled.

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changes, Government, jumbie, oil contract, PPP/C

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