Even as he posited that Guyana was unequally matched in negotiations with ExxonMobil and other multinationals, British Professor of Economics and Public Policy, Sir Paul Collier last evening cautioned against pulling back the contract with the US company and affiliates, saying it can spell doom for Guyana’s investment climate.
Instead, he said that now it is established that there is oil and more companies are seeking to invest, Guyana should endeavour to extract better terms on future contracts while simultaneously building capacity to scrutinize what they all will pay in taxes.
“What would be absolutely disastrous is tearing this contract up. If you tear this contract up, nobody else will come. That is the brute reality,” the Professor of Economics and Public Policy at the United Kingdom’s Oxford University’s Blavatnik School of Government told a panel of reporters during an interview and discussion session at the Pegasus Hotel.
“Governments