December 20th marked the one-year anniversary of oil being lifted from Guyana’s ocean floor. Who has benefitted the most from our oil? Is it the people of Guyana or the oil companies? Certainly, there doesn’t appear to be any significant oil benefits to the more than 30 percent of Guyanese living on US$2 a day….
Guyanese businesses are paying 40 percent taxes on operating profits for commercial activities. In contrast, the oil companies enjoy a tax-free ride on their oil profits. For the oil production lifecycle, from the preparation for oil production to when the oil is finally sold, the oil companies pay no taxes. The oil companies have business…
The 2016 Stabroek Block oil contract between the oil companies and the Government of Guyana violates many of Guyana’s laws compared to the original 1999 contract, according to local legal experts. The Government seems content to ignore our own national laws. None of the violations in this oil contract have been challenged in court as…
