The magic of money

Apr 23, 2024 Features / Columnists, The GHK Lall Column

---

Hard Truths by GHK Lall

Kaieteur News – There is a saying that Americans love to share: money talks, bull**** walks.  Money makes the world go around.  People may make the world their own, but only those with mucho money can dream of doing so, succeed in doing so.  Reading Exxon’s and CEO Darren Woods State of the Company address, and it was a gusher to the glories of money and his special brightness.  Money from Guyana featured highly, the company’s numbers are there to prove, and Woods is the man to make a mountain out of them.

In 2020, Exxon lost US$22.4B when special items were included, its worst outing in 40 years.  Look what it has done since, where it is now.  In 2021, profits skyrocketed to US$23B.  In 2022, the company’s profits soared into the stratosphere at US$55.7 big ones (billions).  And here we are absorbing the little dip in 2023 of US$36.01B.  Darren Woods went with the positive: “we’ve grown earnings at a compound annual growth rate of more than 40%…”.  Nicely said, Mister Woods; other than the Wall Street analysts and money managers, nobody is overly concerned about that 36% drop in profits versus 2022.  Not with US$36B profits coming into the pocket.

There are two contributors to Exxon’s that are major parts of the Exxon profit conversation.  Oil price staying steady and swinging upwards in spurts are two others, and sweet, sweet Guyana, the other.  Though the Permian and other businesses had a contribution, Guyana now always features prominently in profit talk.  When Darren Woods speaks these days about his oil bonanza in Guyana, there is no better public relations man, no smarter political operator, and no slipperier partner than the man who is the king of the Lone Star State.  To that, I would be negligent if I didn’t add King of Guyana to his portfolio of provinces.  I thought I had some promise in the preaching department, but Mr. Woods crosses all his X’s, his t’s, dots his i’s and ensures that his y’s are forked.  A fork is what he sticks into Guyanese, this coolest of political operators.  Hear him.

“Our work in Guyana continues to be among our most exciting and successful -for our business, the people of Guyana, and the world.”  Do Guyanese see how clever this fella Woods is?  He said “among our most exciting and successful” when it is the MOST EXCITING AND SUCCESSFUL.  Hedge, give self a fallback option in case Guyanese get ideas and start clamoring for a fair piece of their patrimony.  How can it not be the most exciting and most successful when the oil is cheap to produce, when the government is a slave to Exxon’s beck and call, when the leading oilman and the Guyanese officials closest to the company operate in the cage that the carpenters from Texas built for them.  Collect Guyana oil money and celebrate, Mr. Woods, but don’t try these stunts in the belief that all Guyanese are jackasses.  This one isn’t.

Exxon is drowning in US billions, and poor Guyanese are struggling to find a spot to sell their plantain chips, roti and curry, cook-up rice and souse, among other items.  The High Court ordered the Town Council to move them from in front of Demico, and those vendors are just a drop in the bucket of struggling Guyanese who scratch out the paltriest of existences. Meanwhile, business is booming for Exxon, lauded to be “among the most exciting and successful” in the company’s conglomerate.  Exciting and successful for Exxon from Guyana’s treasure but depressing and haemorrhaging for Guyanese from their own birthright.  There should be more than resistance to these damn carpetbaggers.  There should be a revolution, radicalism of a kind not seen.  Routledge and Woods know that when the passivity and docility boats stopped here, they docked permanently.  Hence, this listless state.

The tricky politician in Woods is now always on display, especially for the consumption of the Guyanese public.  The excitements and successes are good for “our business, the people of Guyana, and the world.” Success for Exxon is a given, fully understood as the leader and corporate power priority.  Success for “the world” is neither my interest nor my business.  Success for “the people of Guyana” ranks high.  Go tell Mr. Woods that, Mr. Routledge.  There is nothing higher and extending the company’s success to “the people of Guyana” makes me think of identifying this noble American as one given to misrepresentation with the bonus of making a fool out of Guyanese.  He should consult with his legal people and get some advice about what misrepresenting means, if he doesn’t know.  I shall be contented with exaggerator and misleader.  To his prevaricator in Guyana, Mr. Alistair Routledge, I remind him to relay to Texas these sentiments of mine.

“The people of Guyana” in the vicinity of their oil is that of Palestinians and their homeland.  Ripped away.  Gouged out.  With them gored for good measure.  When and how have the people of Guyana, Mr. Woods benefited as they should from their legacy?  Exxon prospers.  Guyanese impoverished are further pauperized.  Exxon cashes in from Guyana’s oil, Guyanese crash with catastrophic failure from leaders and fallen hopes.

(The views expressed in this article are those of the author and do not necessarily reflect the opinions and beliefs of this newspaper and its affiliates.)

---

• Americans, CEO, Darren Woods, GHK Lall, hard truths

---