Dear Editor,
From your lead article on Justice Rishi Persaud’s ruling on the matter of the Appeal against the lower court Judge Sandil Kissoon’s order requiring Exxon to provide unlimited PCG, I read as follows (SN June 9th): Justice Rishi Persaud ordered: “. . . [Exxon] to lodge US$2 billion in guarantees within the next 10 days, failing which the stay order would be dismissed”.
Elsewhere, I read and got the impression that Exxon must make a deposit of $2 billion in cash to Guyana’s EPA. Now the quote above says “$2 billion in guarantees”, does this mean a PCG letter on Exxon’s letterhead stating Exxon will agree to cover up to $2 billion in damages – in the event of an Oil Spill?
I have a crucial question. Who will cover damages in excess of $2 billion? Does this not leave GoG and the State of Guyana exposed to risk? I would venture to say Judge Rishi Persaud does not seem to understand the crucial issue in this case, namely, that the State of Guyana cannot and must not be exposed to risk in the event of an Oil Spill. Period.
Sincerely,
Mike Persaud
