Economist Tarron Khemraj says that from all of the analyses he has seen of the oil deal for the Stabroek Block, Guyana will end up getting just around 37% of the gross revenues while ExxonMobil and its partners will cream off the rest. See more here
The previous six columns asked the question whether Guyana could escape the natural resource curse. We have looked at the issue from various dimensions. In particular, we have observed that initial conditions prevailing in Guyana must be taken into account when making such a prediction. The present structure of the production economy and limited economic…
King Midas, it was said, had only to touch something for it to turn to gold. The Minister in charge of Guyana’s oil has perfected this talent in reverse: – The Minister’s 2016 re-negotiation of the PSA with ExxonMobil is a disgrace. It has put his government in a serious predicament and could prove a…
Over the past few years, the Guyanese economy revealed an economic illness that is tied to the state of the six sisters (rice, sugar, bauxite, gold, seafood, and forestry). There are tremendous external headwinds as the rest of the world pull ahead leaving the Guyanese economy in a sort of no-man’s land. Real GDP growth…
Melinda Janki asks some pertinent questions about the Environmental Impact Assessment (EIA) for ExxonMobil’s Liza Phase 1 project. She identifies ‘data deficiencies’ in the profiling of marine species, compares the EIA to the requirements stipulated in Guyana’s Environmental Protection Act and analyses the oil spill scenarios in the EIA against the benchmark the actual spill…
Quote: “This obnoxious, objectionable and invasive Petroleum Agreement starts and ends with Exxon’s Esso. Guyanese must not be ensnared by Exxon and our politicians who seem to be compromised in Exxon’s tentacles. Guyanese must be made to speak and act for the Guyanese people. Once we have the agreement renegotiated with Exxon; the other Oil…
Warren Buffet: “You cannot produce a baby in one month by getting nine women pregnant.” Agreeing to more oil agreements will not compensate Guyana for the unpatriotic Petroleum Agreement with Exxon, Hess and CNOOC. What we need is to renegotiate the June 27, 2016 Petroleum Contract – posthaste. Thus, the Stabroek News article dated March…
The previous column explored how the lack of economic research capacity might have contributed to the lopsided contract in favour of ExxonMobil. One misconception that is often expressed in various Guyanese quarters is observers like yours truly never worked in the oil industry, therefore, we do not know about negotiating a PSA-type oil contract. Indeed,…
The seas surrounding Guyana are under threat by big oil companies. We believe that the Government of Guyana is putting the natural world and our common home in danger. Our legal cases will help protect the ocean, biodiversity and the global climate system for the benefit of each one of us. The legal cases will…
The headline that caused me grave dismay was, ‘Exxon Contract ‒ Final –Harmon’, published in Stabroek News and dated February 23, 2018. On reading the headline, several thoughts overcame me: President Jagan would have absolutely rejected this contract; President Burnham would have never given away our birthright; Walter Rodney would never go against the people….
