Who Will Stand Up for the People of Guyana?

Jul 07, 2024 Features / Columnists, Peeping Tom

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Kaieteur News – The oil contract between the Guyanese government and the oil giants ExxonMobil, CNOOC, and Hess has left many in a state of shock and frustration. The government accepts that the contract is lopsided but refuses to renegotiate it as was promised.

Vice President Bharrat Jagdeo’s adamant refusal to renegotiate the Production Sharing Agreement (PSA), despite the numerous appeals from various quarters, has raised serious questions about the government’s commitment to securing a fair deal for its people. The Vice President has tried to justify his decision by resorting to a myriad of excuses. But none of these are gaining any traction with Guyanese citizens. They feel shortchanged and betrayed by the current agreement.

On the other side of the political spectrum, the Leader of the Opposition, Aubrey Norton, displays an ambivalence that borders on the incomprehensible. While he occasionally flirts with the term “renegotiate,” it is often buried under layers of political rhetoric and vagueness. Norton assures the public that once in power, his administration will sit down and ensure that the oil wealth benefits the people. However, his reluctance to unambiguously commit to renegotiation leaves many wondering about what he really will do if he gets into government.

At the least, he could have applied pressure on the present government by joining the clamor for renegotiation. What does he have to lose by doing so?

Adding to this perplexing scenario is the new leadership of the Alliance For Change (AFC). The new AFC Leader has declared that because his law firm is a client of Exxon he cannot be involved in decisions concerning the oil company.

The collective positions of these three political figures paint a bleak picture for the Guyanese populace. With the Vice President’s refusal, the Opposition Leader’s ambivalence, and the AFC Leader’s conflict of interest, the people are left in a precarious position. They find themselves without a strong, unequivocal advocate for renegotiating a contract that Kaieteur News publisher Glenn Lall, has labeled as “highway banditry.”

The PSA signed with ExxonMobil and its partners is seen by many as disproportionately favoring the oil companies at the expense of Guyana’s sovereign wealth. The royalties and other financial benefits that should flow to the country are, in the eyes of critics, grossly insufficient. Lall, a vocal critic of the agreement, has consistently highlighted the lopsided nature of the deal and the urgent need for renegotiation to secure a fair deal.

Were it not for the relentless advocacy of Glenn Lall, the publisher of Kaieteur News, many Guyanese might have remained in the dark about the paltry signing bonus agreed upon in the PSA and the critical need for ring-fencing provisions to protect the nation’s financial interests. Lall has been relentless in demanding to know the exorbitant interest rates on Exxon’s investments in the Stabroek Basin. He has been consistently exposing the sheer scale of the lopsidedness of the agreement. His efforts have shed light on the disparities and injustices embedded in the contract. Glenn Lall has been one of the few voices staunchly standing up for the rights and future of the Guyanese people.

Yet, in the face of compelling arguments for renegotiation and improved contract management, the political leadership remains largely unmoved. The Vice President’s refusal to renegotiate is often framed as a pragmatic decision aimed at maintaining investor confidence. However, this rationale fails to address the underlying issue of fairness and equity. The government’s primary duty is to its citizens, and to ensure a fair distribution of the nation’s wealth.

The Opposition Leader’s promises, while hopeful, lack the concrete commitment needed to inspire confidence. His failure to clearly articulate a plan for renegotiation leaves a void that is filled with skepticism and doubt. For a populace that is already weary of political promises, Norton’s approach does little to alleviate concerns about the future of the oil contract.

The AFC Leader’s conflict of interest further exacerbates the situation. If leaders are unable to disentangle themselves from such conflicts, the likelihood of achieving a fair and just agreement diminishes significantly.

This state of affairs leaves the Guyanese people in a state of limbo. Who will stand up for their rights? Who will ensure that the wealth generated from the nation’s natural resources benefits the people and not just the multinational corporations? The country’s current political leadership has yet to provide satisfactory answers to these pressing questions.

The implications of failing to renegotiate the PSA are far-reaching. Without a fair share of the oil revenues, Guyana’s ability to invest in long-term economic growth and prosperity will be stifled, and the nation will be unable to fully leverage its natural resources for the benefit of its people. The Vice President is on record as saying only about one-third of this year’s Budget is financed from oil revenues. The reason is obvious: we are not getting what we deserve.

But the call for renegotiation is not just about securing a better financial deal; it is about asserting national sovereignty and ensuring that the exploitation of natural resources is conducted in a manner that is just and equitable. It is about safeguarding the future of the nation and ensuring that the wealth generated from its resources is used to build a better future for Guyanese.

The voices of the people must be heard. The time for equivocation is over. The people of Guyana deserve leaders who will stand up for their rights and ensure that their nation’s wealth is used for their benefit.

If the country’s political leaders cannot stand up for the people, then the people of Guyana will have to stand up for themselves. Citizens must demand a fair share of their nation’s resources.  By uniting and raising their voices, the people can exert the necessary pressure on their leaders to renegotiate the PSA and ensure that the wealth generated from Guyana’s natural resources benefits all its citizens.

The time for complacency is over; it is now up to the people to take a stand and secure their future. The people cannot wait until tomorrow; they must act now before all the oil is drained and there is nothing left to fight for.

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• CNOOC, ExxonMobil, Guyana, Hess, Peeping Tom

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