Opinion
De-Dollarization: Is it real?
The topic of de-dollarization is all over the popular press these days. Some have been predicting the demise of the American dollar for decades, while others have taken the enlightened view that the world will be a better place if international payments are settled in a multipolar currency framework, involving about four or five dominant…
It should be obvious that two weeks of public consultation on the new draft oil law is grossly inadequate
Dear Editor, We write in connection with the new draft oil law. We would appreciate information on the following: The timetable for this new Bill, including the parliamentary process and committee stages of consideration and amendment; How this timetable compares with the customary timetable for tabling and revising Guyanese legislation; The process which will be used…
Speculation on gas to energy project
Dear Editor, If the Attorney-General (A-G) said in the ongoing case that it is in the best interests of the State to go ahead with the Gas-to-Energy project (GtE) then he is getting into the realm of speculation and asking the judge and the public to trust him. Against all the norms of decent democracy,…
This distribution between EEPGL and Guyana is palpably inequitable and it must be changed now
Dear Editor, Reference is made to your article captioned ‘Exxon’s subsidiary registered $577b profit in 2022’ (SN 6/18/23) and I would like to make a few observations. First, the published data in this and another article (https://www.kaieteurnewsonline.com/ 2023/03/09/the-average-cost-per-barrel-of-oil-produced-by-exxon-is-questionable-unacceptable/). show that EEPGL has been able to extract a total of 168.8 million barrels of oil during…
Judge Rishi Persaud does not seem to understand the crucial issue in this case
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…
A PCG is simply a letter on Exxon’s letterhead promising to pay the cost in the event of an oil spill
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…
Guyana would be left to foot costs of over US$20B yearly compensating Caribbean islands for an oil spill – Environmental activist, Janette Bulkhan
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…
Compensatory claims by our Caribbean island friends for oiled beaches would bankrupt Guyana
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…
ExxonMobil argues that shareholders should reject resolution #10 because it contains dubious claims
Dear Editor, ExxonMobil will have its annual shareholder meeting on Wednesday May 31st, 2023. During this meeting, shareholders will vote on a number of resolutions raised. These resolutions were outlined in its 2023 Proxy statement, a copy can be found here: https://investor.exxonmobil.com/company-information/annual-reports-proxy. Shareholder resolution #10 is concerned with Guyana and seeks additional reporting on worst-case spill…
We urge ExxonMobil shareholders to vote in favour of resolution #14 on environment-related litigation
Dear Editor, In a shareholder document released on April 13th, 2023 ExxonMobil makes this claim, “ExxonMobil’s affiliate [EEPGL] works cooperatively with the Guyana Environmental Protection Agency (EPA) to ensure environmental permitting relating to exploration, development, and production activity fully complies with Guyana law.” It states, “…activist litigation to halt oil and gas production has failed…