We Guyanese have been selling our natural assets to foreigners for five hundred years or more, from red annatto for dyeing cloth, now to oil for powering vehicles. On 01 December 2022, the government announced a new version of a scheme for monetizing our forests – ‘jurisdictional forest-based carbon credits’. This idea has been tried…
Deputy Speaker of the National Assembly, Mr Lenox Shuman, listed some of the functions of the National Toshaos Council that are set out in the Amerindian Act 2006. He then writes, ‘the NTC, by the stroke of a pen and the endorsement by the entire NTC at the last conference, has endorsed one of the…
On 01 December 2022, Winrock/ART (Architecture for REDD+ Transactions) announced that it has issued 33.47 million jurisdictional carbon credits to Guyana, representing saved carbon in the forests of Guyana. Closely following the Winrock/ ART announcement, the Hess Corporation oil company (30 per cent co-venturer in the offshore Stabroek Block, and so a co-generator of huge…
In recent days, attentive readers of the “Letter to the Editor“ section of Stabroek News will have witnessed an exchange of opinions between Attorney General Anil Nandlall and Messrs. Sherwood Lowe and Vincent Alexander revolving around the question of possible voter impersonation during the General Elections of March 2, 2019. The story culminated on Wednesday,…
A foreign observer analyzing Guyana’s oil resource per citizen would guess that a baby born in the last few years in Guyana would be one of the luckiest of the 8 billion people in the world. But the observer would be mistaken. It is approaching 3 years since we started producing oil but one of…
I am responding herewith to Mr. Bhagwandin’s letter to the Editor of Stabroek News published October 8, 2022, and entitled `The overall objective of the PSA is to obtain a higher profit share after fully recouping investment costs’. First, I fully agree with other online commentators that there was no need for Mr. Bhagwandin to…
By Stabroek News October 11, 2022 Dear Editor, Permit me to respond to Joel Bhagwandin’s letter in SN of October 8th, captioned, ‘The overall objective of the PSA is to obtain a higher profit share after fully recouping investment costs’; but before doing so, I would like to recommend that Joel Bhagwandin take some finance…
If you owned one of the nicest houses in an exclusive neighbourhood, would you sell your house for a fraction of what other sellers are receiving? Guyana is receiving significantly less money from its oil production than other countries. But some Guyanese politicians hide behind the porous façade of the sanctity of contract while others…
By Stabroek News October 4, 2022 Dear Editor, In the EEPGL contract, it is specified that Guyana will receive in the Production Sharing Agreement (PSA), 50 percent of the profits, after EEPGL extracts upfront, and without Guyana’s prior review of the cost, 75 percent of the total revenue as cost. This proportional linkage between total…
