Dear Editor
With the public announcement in the local media that ExxonMobil is gearing up for oil production from Guyana’s first oil well by mid-2020, and that the company has announced that it has awarded contracts to United States-based, SBM Offshore for a floating production storage and offloading vessel, we trust the Guyana economy and all Guyanese would directly benefit from this. Many of us locals had hoped and prayed that Guyana would become one of the first Third World nations that would allow its oil wealth to trickle down to the masses. However, history has shown us that trickle-down is a rarity. Oil wealth is notorious for corrupting its host nation. We wonder how our national administrators will conduct themselves if and when the oil begins to flow? This is based on the traits shown by some greedy persons over the past years.
And we do hope also that those in authority will revise and update our antiquated laws regarding foreign multinational corporations. With the present laws, we could expose ourselves to be ripped off by anyone, especially large multinational corporations. This is in light of our history of giving things away to foreigners. Many locals may be very troubled by the difference in power and resources between ExxonMobil and Guyana as this project moves forward, with Guyana at a distinct disadvantage. Our hopes are being lifted, but we must be realistic and be prepared for the fall. Remember bauxite. Look at Nigeria whose oil is controlled by foreigners and large multinational corporations.
Yours faithfully,
Rooplall Dudhnath
