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Exxon’s profits soar while Guyanese struggle with rising cost of living
…women decry at oil forum
(Kaieteur News) – An oil and gas forum held on Saturday in observance of International Women’s Day was marked by widespread complaints over the high cost of living, with participants expressing little optimism that the situation would ease for families at the lower end of the economic scale.
The event themed ‘Guyana’s women and oil- impact and resistance’ was organised by Red Thread and A Fair Deal for Guyana- A Fair Deal for the Planet, two non-governmental organisations.
Grassroots women from across the country were brought together as award-winning lawyer, Melinda Janki and activists joined for enriching discussions at the forum, hosted at the Regency Hotel, Georgetown.
A section of the gathering that joined the oil and gas discussions.
Setting the stage, Joy Marcus of Red Thread told of how hope for a better life from the rich oil resources in the Stabroek Block has dwindled. Instead, she told dozens gathered at the event that the operator, ExxonMobil is enjoying hefty profits while Guyanese women struggle to find meals to feed their families.
“While Exxon is boasting about the millions of dollars they gain in profit, for ordinary people we gained a cost of living that has skyrocketed so high, making it extremely hard for us to survive,” Marcus said as she paused from her prepared presentation to share how women are forced to cook more stews than ever, as vegetables have become hard to afford.
Another presenter, Susan Collymore weighed into the impacts of cost of living on pensioners in particular. Collymore pointed out that food, utilities and transportation have become more expensive over the past few years, a situation that is particularly straining on pensioners who depend on a fixed monthly income of only $46,000 now- given the recent $5000 increase.
Additionally, Rushana Pilgrim, a young single mother of two said she continues to struggle in an oil rich nation. “The cost of living keeps rising and it’s getting harder for ordinary families like mine to afford basic necessities…with all the oil wealth in this country we are supposed to be living better and not worrying everyday about how to afford a proper meal,” she stated.
Meanwhile, activists Danuta and Vanda Radzik, Sherlina Nageer, Audreyana Thomas, Wintress White, Elizabeth Hughes and attorney Melinda Janki highlighted the lawsuits they brought against the oil giant, some of which were lost but still yielded success.
The award-winning lawyer pointed out that some 11 cases have been filed to date against the company, with Exxon being ordered by the court to comply with the rule of law in their operations here in Guyana.
She made it clear, “When women speak, the government has to listen. When we speak as women, the oil industry has to listen.”
Oil and cost of living
In its most recent Environmental Impact Assessment (EIA) submitted to the government of Guyana (GoG) ExxonMobil warned that its seventh project can result in higher cost-of-living.
According to the EIA, conducted by the company’s consultant, Environmental Resources Management (ERM), “With rising wages and increased purchasing power (driven not only by the Project but by broader economic growth and development trends), the project could also contribute to increased costs-of-living (IDB 2023).”
The study further states, “This could manifest in several ways; for example, higher prices for in-demand goods and services, higher costs for housing in desirable areas of Georgetown, and/or higher costs for key goods in the supply chain (affecting both consumers and businesses/suppliers).”
ExxonMobil noted in the EIA that Guyana’s inflation rate has risen above “historic levels in recent years” as experienced globally, although these levels subsequently settled below international and regional rates.
Inflation refers to the increase in average price of goods and services.
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It is not fair that the natural resources that belong to the people of Guyana who had been uprooted from their ancestral homes i. ARFICA AND India should be dperived of their resorce wealth.Why does the Govt. N
Not seek the help of India and like minded countries and take the exploiters Esso,Chevron etc to court.Also Guyana could do with help In agriculture and Industry from India.