VP Jagdeo and Liza 1 and 2 Production life

Sep 22, 2024 Features / Columnists, The GHK Lall Column

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Hard Truths by GHK Lall

Kaieteur News – One of the reasons I hold Vice President Bharrat Jagdeo in special regard is that he can be depended on to pull a cat out of an anaconda’s mouth without sweating.  My gamble is that no one would ask me to explain what I mean by ‘special regard’ since that could bring the former head of state down low and leave me looking like a hostile citizen.  Exxon, the American oil super cobra, is pumping and pumping this country’s oil daily at breakneck speeds from the Liza 1 and Liza 2 oilfields and the biggest man around Guyana’s oil is at his calming best, as he reassures concerned citizens.  There is nothing to be anxious about, as Exxon is exploring and drilling and finding new oil.  All is well at the oil wells (no pun intended) because the 7-year calculation for the two projects to be drained is out and 20 years is back in the reckoning.  Learning has come the hard way for me in this country, and never more than when politicians are the ones sharing information.  What has not been curious has been borderline dubious, and what is not either has proven to be outright horrendous.  If it is not what looks out for their interests, it is what protects their friends and collaborators.  In Jagdeo’s case, topping the list of the latter is America’s oil super boss Exxon, and not Guyanese.

So, Exxon is drilling and finding more oil.  What could be better news for Guyanese?  Thanks, Dr. Jagdeo, for breaking the radio silence on that one, clearing the air.  But did he, really?  Exxon is barreling ahead with ramped up round-the-clock production, the Liza 1 and 2 levels are dropping, and Guyana’s oil doctor says, ‘don’t worry, long life still guaranteed.’  In Exxon, Guyana has more than a good neighbor (a la State Farm [just don’t think protective insurance this time]).

Guyana has a partner that is as good a finder of oil as there is, if not the best, with the company drilling down to new pools of the prospering black stuff.  Did Exxon really tell this to the Guyana Government, which means Bharrat Jagdeo, or did he just snatch that one out of thin air to refill the Liza 1 and 2 reservoirs?  From Dr. Jagdeo’s history one never knows.  Often when he makes a huge production of knowing, he knows nothing, not a spit of information.  On the other hand, there are times when he does know, thanks to Exxon’s sharing of its oil intelligence on developments in the Stabroek Block, but for reasons known only to himself, his preference is to withhold the details from information starved Guyanese.

If there are Guyanese who still take the honorable Bharrat Jagdeo seriously, they are on their own.  Please don’t look at me for comfort or company.  To take him literally is to risk making a donkey of oneself.

Take him figuratively, and the wisdom of a fool is fully owned.  Me, I am not riding that alligator, too much exposure, just too much trouble.

There is Exxon racing away like an Indianapolis 500 champion, and Guyanese chugging along to keep up any way they can, only for Jagdeo to dredge this fancy stuff from his can of scorpions.  On each occasion that Guyanese allow themselves to be lured into Jagdeo’s verbal parlors, they get stung.  If it is not Bharrat the bee, it is Jagdeo the wily oil dragon.  If Dr. Jay is to be believed, as fast as Exxon fetch away the oil from Liza 1 ad 2, the faster Exxon finding oil and fulling back the Liza 1 and 2 oil tanks.  For this one, I ask to be allowed the indulgence of dabbling in a little Guyanese English: is how much ile Exaaan fine out deh?  Exxon is like the gift that never stops giving, if I were to fall for that one.  The question for Guyanese is this: who is it that they have around their oil wealth, spearheading its promise?  A magician or a sorcerer?  Or an evader and a master disguiser?

Every Guyanese should love the news that Exxon is finding more oil or is almost guaranteed to do so (per Jagdeo), in the Liza 1 and 2 neighborhoods, but tell the people something nah, banna.  I am trying to cut through Jagdeo’s jugular squeezing information jungle relative to more oil to be harvested from Liza 1 and 2.  Who and where is the Guyana man or woman that doesn’t like that sweet sound?  I don’t think that there are any.  But passing from hand to hand this 20-year lifespan that is now very much on and stomping on the 7-year outlook that was being bandied about, pushes in this direction.  Accepting what Dr. B just said about how the Liza 1 and 2 lakes could still last 20 years inspires this conclusion: Liza 1 and 2 are bigger oil whoppers than when they were originally announced.  The daily production rate is in the redline zone, but 20 years (maybe more) is still as good as gold.  According to Jagdeo, Liza 1 and 2 are not due for the slow, old people, lane.  Both are on steroids, based on Exxon’s drilling and discovery hustles.  I leave this parting gift with fellow citizens: this oil is a miracle, and Big Bopper Bharrat Jagdeo is a miracle worker.

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

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• American, Exxon, gamble, GHK Lall, hard truths

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