In part 1 we showed that insurance companies knew how to mitigate the risk of ‘moral hazard’ so that while the tendency of the insured to benefit financially from information asymmetry existed, it could never ever be enough to frustrate a properly functioning insurance market. In part 2 we presented the quote Dr CYT should…
In Part 1 of our response to Dr. CYT, we pointed out that he had neglected to take into account some fundamental points concerning the nature of the insurance business. We pointed out that, even if the oil company decided to indulge in more risky behaviour as a result of taking out the insurance, the…
Dr. C.Y Thomas, in his column of Sunday 17th April last (https://www.stabroeknews.com/2022/04/17/sunday/guyana and the wider world/critiques-2-3-exxonmobil in the courts of law and public-opinion/) under the guise of a critique of ExxonMobil, continued his ridicule of those of us calling for guaranteed compensation in the form of insurance against any damage to the environment of Guyana and that…
President Ali is a good man and our duly elected President, who can end up being a great leader. Our AG, a “maybe” future presidential candidate and the smartest man in Guyana, is a national hero, and defender of our democracy. Who can forget his role as a “Guardian of Democracy” during the five months…
Last week (Feb 17, 2022), SN reported `Guysons in US$60m joint venture for oilfield manufacturing – Enmore sugar packaging plant to be transformed as part of deal’. There was also a report in KN. This is a big surprise. The nation needs to know all the terms and conditions of this deal. We demand full…
As the Energy Conference opened up yesterday, Guyana failed to send a public message to Exxon’s boss who is in attendance. With the worst oil contract in the history of the world that gives Guyana 14.5% of all gross revenues while Exxon gets 85.5% to cover expenses and profits, the Guyana leaders were silent, although…
The recent interview by Vice News, a controversial foreign news media that has some credibility issues, asking our VP if he took bribes and forcing the VP to say, “I never took a bribe” is reminiscent of the US President Nixon saying “I am not a crook,” when he was questioned about his involvement in…
As the Energy Conference gets underway, Guyana continues to experience the phenomenon of blackouts. Only last week the national grid ran into trouble and they had to bring in experts to diagnose the problem. They had to shut down the five dual-fuel power generating sets at GPL’s Garden of Eden power plant, to prevent a…
The developed world is turning a blind eye on matters of tax fairness in the process of exploitation of Guyana’s petroleum oil resources. Under the current oil contract that a Guyana Minister was ‘told to sign’, Guyana gets an effective zero per-cent of profits tax after the Minister pays the contractors’ share of profit tax….
This clip is part of a longer presentation from Moray House Trust that can be found at this link: https://www.youtube.com/watch?v=coCJ8FVRUuk
