Many Guyanese are now aware of some version of the natural resource curse (NRC). One taxi driver explained the idea to me last week and he also gave the Dutch disease a good shot. Economists have been pondering these ideas for at least three decades. They, however, tend not outline the transmission mechanisms of the…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 72 – August 2, 2019 Introduction Column 71 published last week included a summary table of the Statements of Financial Position (the Balance Sheet) of the three oil companies which will lead Guyana to First Oil projected to take place during the first…
On the weekend, the media reported on a real time facial recognition and facial tracking system to be deployed for 24 hours surveillance in Georgetown and the East Bank of Demerara. It was described by a government official as, “…one of the best developments for our country…”.This facial recognition technology has been banned in San…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 71 – July 26, 2019 Introduction Today’s column summarises some of the principal information extracted from the audited financial statements of the three Contractors to the Petroleum Agreement signed on June 27, 2016. The financial statements are filed with the Commercial Registry and…
Oil companies exist for the sole purpose of making money. To get their vast profits, oil companies have exterminated massive amounts of precious biodiversity through oil spills and petrochemicals, including by-products such as plastic and artificial “fertilisers”. Oil companies have lied about global warming while pushing us into catastrophic climate change. ExxonMobil has been implicated…
How would you use data to explain that this is a fair contract to the average Guyanese? On Thursday July 18th, the Stabroek News published an interview of Mr Henson, ExxonMobil Country Manager. Mr Henson is quoted as saying, “The contract is a fair contract. It absolutely is a fair contract given the risk profile…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 70 – July 19, 2019 Introduction Following up on last week’s column we have set out below a Table summarizing the Profit and Loss Statement of Mid-Atlantic for each of the years 2013 (part-year) to 2018 extracted from the company’s audited financial statements…
In 2016, the APNU+AFC Government renegotiated a Production Sharing Agreement (PSA) Guyana had with ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited (EEPGL), and its two other partners, Hess Corporation and CNOOC/NEXEN. After unceasing calls for its release, the PSA was finally made public in December 2017. From then to now, everyone besides ExxonMobil and…
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 69 – July 15, 2019 Introduction The Public and Government Affairs Advisor of ExxonMobil Ms. Janelle Persaud has disclosed to the press that its subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), has applied for its Petroleum Prospecting Licence for the Canje Block…
