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…
I refer to Robin Singh’s letter in SN of May 24th titled: “An unlimited parent guarantee must be backed by an asset register”, and wish to respond as follows: Robin Singh argues, “it must be backed by an asset register, all of which would then be under lien and would require Guyana’s assent for any…
Kaieteur News – Pre-pandemic statistics available for 10 Caribbean islands that can be affected by a devastating spill in the Stabroek Block shows that Guyana would have to foot costs of over US$20 Billion a year for affecting the beaches these countries rely largely on for tourism. This point was shared by activist, Janette Bulkhan in…
Our angelic lawyers and appellate judges are debating in medieval terms whether ‘assurance’ or ‘insurance’ or ‘full liability coverage’ or ‘complete indemnity’ can all sit on the head of a pin. Meanwhile, let us consider why we need such security instruments. Since the PEMEX oil spill at the Ixtoc-I well in the Gulf of Campeche…
Dear Editor, In recent letters to the press, Robin Singh, a person who is yet to apologise for publicly labelling me and some members of civil society treasonous, is peddling more illogic. He seems to have now awakened to the concept of ‘unlimited’, as in parent company guarantee (PCG). It was already there to be…
Dear Editor,Your editorial of 24 May (Mahdia tragedy, https://www.stabroeknews.com/2023/05/24/opinion/editorial/mahdia-tragedy/) on the horrific deaths of 19 children in a dormitory fire on Sunday night (and other children who are seriously burnt, all the children scarred for life) reminded us of the government’s serial failures to learn from the earlier deaths of three schoolgirls in Waramadong Secondary School…
Vice President Jagdeo has for sure secured his spot in the annals of iconic harbingers of falsehoods; but his reaction to Honourable Judge Kissoon’s well-thought-out decision, takes the cake, when he distorts the decision and attempts to intimidate and create a chilling effect on the judiciary. The VP perversely attacks the decision with his vengeful…
If I were in the GoG, I’d insist Exxon sign the PCG letter agreeing to Full Liability Coverage. Sign the letter – and go on with your Oil Drilling. Observe Safety Rules. End of story. All oil drilling is done on a Wing and a Prayer. Hope an accident never happens – but if it…
Former EPA chief Dr. Vincent Adams has said many times that Full Liability Coverage (FLC) as enshrined in the permits, equals insurance plus a parent company guarantee to cover “any” costs above insurance. In mathematical parlance: Full Liability Coverage = Insurance + Parent Company Guarantee for all remaining costs. Parent Company Guarantee is simply a…
The OECD/G20 Inclusive Frame-work on Base Erosion and Profit Shifting (BEPS) is implementing a landmark reform to the international tax system, which will ensure multinational enterprises will be subject to a 15% effective minimum tax rate. The details can be found via this link https://www.oecd.org/tax/beps/. Domestic tax avoidance by BEPS due to multinational enterprises exploiting gaps…
