With billions already gained on the stock market from its oil find here, ExxonMobil and its partners can “more than afford” to pay Guyana US$1 billion instead of the US$18 million received as a signing bonus, according to energy expert Dr Vincent Adams, who also strongly believes that the government should go back to the…
If one adds the collective losses from contracts that were mismanaged; investments that fell through, like the glass factory under Burnham and the Skeldon Factory under Jagdeo as well as the Marriott; if you also consider all that was given in bailouts and loans to agencies that had to be written off; those losses will…
We don’t need to hear about the personal sacrifices of politicians during past political campaigns or the hardships of being a leader, especially when such inflated speech is used as a means to defend the worst contract ever agreed upon, if opportunity losses to Guyana are computed on a per capita basis in the Production…
See press release here: http://www.oggn.website/fair-deal-for-guyana/ Purchasing a house is the largest financial decision most of us will ever make. Given the importance of this decision, the majority of buyers will defer to an expert whose competence is rooted in real estate. If the seller has hired a real estate agent then the buyer, even if he…
A recent article in the Stabroek News ‘No plans to revisit Exxon deal’ (Jan 26) suggests that the Inter-American Development Bank (IDB) was involved in the drafting of the Petroleum Commission Bill: “…the Inter-American Development Bank (IDB), International Monetary Fund and the Commonwealth had helped with the drafting of the proposed legislation and stakeholders consulted…
The previous essay established the developmental context under which we address the essential question of this series: could Guyana escape the natural resource curse? The best measure we have of development is perhaps the Human Development Index (HDI) and its iterations such as the Gender Development Index and inequality-adjusted HDI. At a minimum, escaping the…
Guyana is now hurrying to put measures in place to monitor and assess cost recovery claims. However, it has already tied itself to the repayment of US $460,237,918M. This is according to the 2016 Production Sharing Agreement (PSA) that Minister of Natural Resources, Raphael Trotman signed with ExxonMobil. See more here
Despite extensive criticisms about the 2016 Production Sharing Agreement (PSA) that Minister of Natural Resources, Raphael Trotman signed with ExxonMobil, Government has not seen the need for any further amendments to be made to the document. See more here
Minister Trotman is reported (18th Jan) as stoutly defending ExxonMobil’s investment here. He says that Guyana should focus on what has been gained. Like what? The 2% royalty? The Falkland Islands have negotiated 9%. This tiny territory of 4,000 people will get 4.5 times as much as Guyana on every barrel of oil. Tarron Khemraj…
By now many Guyanese are pondering the important concept known as the natural resource curse. Government ministers, high-paid government consultants and some news outlets have been talking about it since the discovery of high-quality crude oil in Guyana’s offshore waters. As early as 1995, the concept was first observed statistically by development economists and researchers…
