I have long considered Steve Coll’s book, “Private Empire ExxonMobil and American Power”, the bible on ExxonMobil. All government officials and ministers with responsibilities for the oil portfolio should take the time to do a serious study of this book. This book was published in 2012. Minister Trotman had renegotiated the Oil Contract in 2016…
By Alfred Bhulai, Janette Bulkan, Jocelyn Dow, Danuta Radzik, Vanda Radzik, Troy Thomas, Maya Trotz This “In The Diaspora” article describes how the Guyana Constitution with 2003 Amendments and the Environmental Protection Act of 1996 address the oil and gas sector, and provides recommendations for how, as Guyanese, we can use them to safeguard a…
Every Man, Woman and Child Must Become Oil-Minded (Part 95) This Article was Published on the 30 July, 2021 Introduction Thirty months after its passage and assent by President Granger in January 2019, the only thing active about the Natural Resource Fund Act is that it continues to generate controversy. The Act was passed during…
Several observers have noted that the account in the Federal Reserve Bank of New York does not constitute the National Resource Fund (NRF). The account in the Federal Reserve is merely holding the oil revenues – at almost zero percent yield – until the Guyana government operationalises the NRF (hereafter “the Fund”). Operationalisation of the…
I would like to make some comments on the article by Dr. Thomas, “Guyana’s Oil and Gas Sector: More on the abuses of misinformation, deceptions, and fake news.” (SN July 11, 2021). Some clarifications are needed as Dr. Thomas seemed to have missed some important points. Firstly, the Guyana’s taxation system is not based on “average effective…
There are unanswered questions that relate to future taxpayers’ burdens arising from possible new government debt interest costs and Guyana’s payment of profit taxes on behalf of the contractors from its Production Sharing Agreement. Will the Gas to Energy be similarly treated? There are three major stakeholders in the Gas to Energy project: Contractor, Government…
Alfred Bhulai, Dr Janette Bulkan, Jocelyn Dow, D Radzik, Vanda Radzik, Dr Troy Thomas, Dr Maya Trotz The Environmental Protection Agency (EPA) published a Public Notice on June 25, 2021 stating that an Environmental Impact Assessment (EIA) was required for the “Gas to Energy Project” led by Esso Exploration and Production Guyana Limited (EEPGL). EEPGL…
Nothing is wrong with giving out money to poor people under the banner of “Because We Care (BWC).” And it is simply wrong for that PNC Member of Parliament – a big wig in the Teachers Union – to discourage teachers from assisting with the distribution of the money. Criticizing the giving out of money…
The oil company/contractor and Government have determined that the gas has commercial value and will be cooled to minus 261 Fahrenheit degrees on land instead of using a floating ship. The process is unclear; the oil company has a development plan to develop gas, recover the expenditures in the 75% cost recoveries, and sell the…
