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We must demand a referendum to end this madness.
Nov 27, 2024 Front Page Comment, News
…Front page comment
Kaieteur News- The Guyanese people must wake up to the harsh reality of what is happening with our oil wealth between ExxonMobil and the politicians. Due to the lack of ring-fencing of these oil projects, ExxonMobil has walked away with over US$4 billion of Guyana’s oil profits in 2023 alone. That’s right—over US$4 billion handed over in just one year. Then, our leaders went and borrowed US$2.4 billion to help manage the country’s affairs for 2024.
How does this make sense to anyone? Giving away all your food today to your fat, bloated neighbour, only to find yourself at the bank the next morning begging for a loan to feed your family. How does anyone explain that? Well, this is exactly what the PPP/PNC and AFC are doing with Guyana’s oil wealth in partnership with ExxonMobil. They are handing Exxon billions of our oil profits today, and then borrowing billions tomorrow to keep the country afloat.
Let’s break it down further just in case this situation isn’t clear enough:
You own a farm that gives you plenty of food. Instead of making sure your family eats well and save some for tomorrow, you hand over all the harvest to fatten your already bloated neighbour. Then the next day, with your cupboards empty, you at the bank to borrow money to buy food for your family— paying interest on that loan. That is how the three parties managing Guyana’s oil wealth with ExxonMobil.
And it gets worse, this year 2024 ExxonM will walk away with over US$6B – of our oil profits again, and come next year Guyana will be at the door steps of the lending institutions begging for more loans to manage the affairs of the country. Let’s wait and see how much they will borrow for the 2025 Budget. And guess what people, this will be the yearly trend, giving away more than what’s needed to run and develop the country.
This madness must come to an end, and a referendum is the only way for us the people of Guyana, to take back control of our resources.
We must demand a change to this exploitation going on today. It is time to ensure that our oil wealth benefits us, the people of Guyana today, and not just ExxonMobil, their shareholders and a selected few in the political arena. Let’s not wait until it’s too late people. The time to act is now.
(We must demand a referendum to end this madness.)
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