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One issue- money, how much, when
(Kaieteur News) On 31st July, some of the words uttered by Exxon’s Chief, Mr. Darren Woods, were as clear as a bugle. Exxon has recovered all of its investment in Guyana -all US$55B. I thank Mr. Woods for his clarity on that score and his extra note about the repayment being two years ahead of schedule. It has been 10 days since the high-performing and high-flying Exxon chief mentioned his Guyana debt repayment words. It has been 10 days and not a word from the PPP Govt. Not a word from Excellency Ali.
And, most conspicuous of all, NOT A SINGLE WORD FROM VICE PRESIDENT DR. BHARRAT JAGDEO. I deliberately capitalised and bolded a part of the sentence involving Vice President Jagdeo. With a bow to the presidency, Dr. Jagdeo is the man in command of Guyana’s oil industry. Therefore, it is Oil Chief Jagdeo who must speak. Exxon spoke. Chief Oil Minister of Guyana, Dr. Bharrat Jagdeo, should have been the very next man to speak over here in the very next minute. To date, Guyanese have not had a whiff, or so much as a syllable, from the man in command of the Guyana oil treasure.
GHK Lall
I don’t want to know why he has not spoken. All I know is that he should have spoken, and must speak. Ten days of silence at a time like this could mean many things. But I cast no aspersions. All the focus, where I zero in, is on one area, one truth, one reality: the man, this national oil leader, must speak. He must break his silence. Guyanese must hear from their oil boss, Dr. Jagdeo. About one and one thing only at this time. What does the 50:50 profit sharing look like, when did it begin (it should have), and how much by the calculations of the government’s army of mathematicians.
I am concerned about rapid cost bank refilling. But that will have to wait. There are other issues of a bigger nature. But all of those have to take a backseat (for the moment). The issue at hand right now is the share. Though a moving target, Guyanese need to be told (by Jagdeo), Guyanese need to hear (from Dr. Jagdeo) about the significance of this development for this country. Because if there is a problem or a crick in the neck now, if the straightest of straight talk cannot be heard now, then what more could be in store?
To say that I am astonished, blown away, by Oil Head Jagdeo’s ten days of silence would be an understatement of mythical proportions. Tell Guyanese about percentages, decimals, and fractions. In sum, tell them about the dollars and when that started. Note the repeated use of the past tense, please.
The investment recovery by Exxon was in the second quarter of this year, which means before 30th June, 2026. Therefore, the new 50:50 profit sharing configuration began life then. This new profit dispensation cannot be beginning in September, or in this August, but it had to have begun more than a month before. All of this is what Vice President Jagdeo should have already shared with the Guyanese people. Fifty! Fifty! Fifty! Or, more down to earth, and pleasing to the ear: Money! Money! Money!
In this one moment in time, Bharrat Jagdeo is the president. Bharrat Jagdeo is the Government of Guyana in his one person. Say something, Mr. Vice President of Oil. I am trying to figure out his silence and must confess to be at a loss. Dr. Jagdeo was a man who spoke for hours, with religious fervor, every Thursday afternoon. Amazingly, he kept that up for years. More amazingly, this is man that has not stepped forward and said one letter of the alphabet on oil in 10 days. Incredible, I say.
It is said that good things come to those who wait. The Guyanese people wait on Bharrat Jagdeo. He marshals his thoughts. He will speak. The question is when. Remember: money, money, money.
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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GHK Lall, There are more important things the government , Jagdeo & the President are engaged in , in light of the M V Barima tragedy, strengthening of institutions, developing & modernizing of communities ,making the villages safer , better facilities , raising the standard of living , improving & building stronger & safer infrastructures , reliable ,safer transport to the riverine areas ,inter alia., the country is still mourning the death of the persons in the M V Barima disaster!!!
In due course Bharat Jagdeo will answer your question!!! Keep looking!!!