Latest update August 14th, 2026 10:25 AM
Latest News
- ExxonMobil produced one billion barrels of oil in less than 7 years – Routledge
- Canadian firm announces plan to advance, integrate 3.2M ounce gold project with 4.64M Oko West project
- 15-year-old arrested after Corriverton fisherman dies following altercation
- Huge oil spill off the coast of Oman now covers hundreds of square miles
- US$3.6B spent in local companies since 2019 – Exxon
What Jadgeo sees as constraints to a better oil contract, we see as imperatives to compel urgent action
Dear Editor,
We noted that VP Jagdeo issued a challenge to the Opposition to draft a renegotiation plan. This plan, he told reporters at his Press Conference, must consider, as he described it, the “constraining factors” of Net Zero and the decline in funding for fossil fuel related investments globally.
Jagdeo’s ineptitude is so extreme that he seems to have forgotten that it is his very government which crafted a new model PSA – with higher royalty, corporate taxes, and other new provisions – which apparently encountered no difficulties with those same Net Zero and funding constraints. If he genuinely wanted to improve the Stabroek Block contract, he could simply use the PSA he developed as a starting point of any renegotiation plan.
But more fundamentally, what he sees as constraining factors, we, in the Opposition, see as imperatives or compelling reasons for Guyana to urgently talk to the Stabroek Block companies to get the best for Guyana, while not jeopardizing their ability to earn a profit. If, as projected, the push to Net Zero would gradually reduce demand for oil in the future, then, for us, that should compel the government to seek a greater share of revenues now for the benefit of present and future generations. Let’s therefore call Jagdeo’s challenge for what it is: an attempt to deflect attention from the fact that he has no intention to defend the interests of the people of Guyana.
Let us remind the nation that the Opposition has pledged that, when it assumes government in 2025, it will invite the oil companies to the table to discuss getting more revenues for Guyanese from our petroleum resources. There are several ways to effectively garner greater income, with ring-fencing being just one possibility.
In the short remaining time the PPP has in office, we can only hope for no further dangers to our country caused by Jagdeo’s incompetence and inadequacies. We in the Opposition will continue to stand guard in the interest of the people.
Respectfully,
Office of the Leader of the Opposition
Share this:
Discover more from Kaieteur News
Subscribe to get the latest posts sent to your email.
Similar Articles
Blunt of the day
Sports
Features/Columnists
Sir. Ronald Sanders
The GHK Lall Column
Weekend Cartoon
