Opinion
Treating Oil lightly
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 74 – August 23, 2019 Introduction A couple of weeks ago Column 73 examined a statement by Dr. Mark Bynoe about the uplift of oil every eight to ten days and of his plans to independently market Guyana’s share of petroleum which we…
Mr Trotman and Mr Jordan should call a press conference to explain the Exxon contract
Under Melinda Janki’s letter (SN: 18/08/19), I asked several questions: What royalties are we getting on one million barrels of oil? Is it 250 barrels or 2,000 barrels? Is the royalty assessed on barrels sold? If only 1,000 barrels are sold, does this mean royalty would be assessed and paid on only 1,000 barrels? Mr…
Our leaders embrace 2% garbage royalty that sinks Guyana’s prospects for vibrant economic development.
The passage of time has seen our oil discoveries exceed six billion barrels. Our commentators, with great zest and zeal, protested the unconscionable contract’s plunder and robbery of our oil resources by ExxonMobil and their minions, with a 2% contract that has now withered down to appeals for Local Content, Ring Fencing, Tax Stabilisation Removals,…
Mr Jordan and Mr Trotman need to provide answers on oil deal with Exxon
In discussing Guyana’s nightmare oil deal last week, Winston Jordan predicted that Guyana will get “two hundred and something million” US dollars in 2020. He referred yet again to a “2% royalty.” As we all know, the APNU+AFC coalition sometimes has a problem with simple arithmetic and went all the way to the Caribbean Court…
Is Guyana headed to a future where citizens cannot protest freely and the press is stifled?
The city parking meters galvanised the people of Georgetown. Irrespective of race or political party, they came out to protest against the implementation of the meters. The major newspapers in Guyana covered the protests, giving nationwide visibility to the issue. The pressure was sufficient to get the meters removed. The debacle turned the passion in…
The World’s Newest Petrostate Isn’t Ready for a Tsunami of Cash
The Caribbean beats of reggae and soca ease into American hip-hop at a roadside bar in Georgetown, Guyana. Outside, teenagers hoot as they whiz past palm trees on mopeds. But for Gavin Singh, a 36-year-old investment banker, this is no time for play or relaxation. “People out there don’t really get it,” he says, pushing…
Throwing Around oil numbers
Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 73 – August 9, 2019 Introduction It has been a week of headlines in the petroleum sector. First out was Dr. Mark Bynoe who told the Stabroek News about Government’s plans to market its share of crude oil. This was followed by a…
Stabroek PSA lets oil companies take an unquantified amount from Guyana’s revenue – Melinda Janki
Melinda Janki, an international lawyer, recently criticised the Production Sharing Agreement (PSA) that governs the Stabroek Block. Stabroek PSA lets oil companies take an unquantified amount from Guyana’s revenue – Melinda Janki It is rife with controversy. It has been called illegal by some because of the circumstances under which the concession was granted, and…
Melinda Janki: Is Guyana getting a Fair Deal for its Oil & Gas?
On June 21st, 2019, Melinda Janki presented in NYC. She explained why Guyana is NOT getting a Fair Deal for its Oil & Gas. Due to technical difficulties, the audio for the last few minutes were re-recorded.
The natural resource curse and plutocratic manoeuvres in motion
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…