Dear Editor,
The recent announcement by His Excellency in Trinidad that he will be giving them 5000 coconut trees brings pause. Is there a shortage of people in Guyana that need coconut trees to plant? Is there a shortage of supply of coconut water and coconut oil in the global market? The last time I checked there was coconut water being sold from all over the world in the supermarkets. So many brands that there wasn’t any available shelf space for new entrants. The same goes for coconut oil. Why are we creating unneeded competitors in a market that our country is pursuing? If there is an agreement behind the 5000 coconut trees where Guyana gets a percentage of the profit made from the coconut business that Trinidad establishes then it is a good business decision. Otherwise, it will start to raise eyebrows.
The same can be said of the position being taken to not renegotiate the oil contract with Exxon. All of the charity that the current government is partaking in should be applauded, but one major oil spill will reverse the country’s fortunes and leave Guyana bankrupt. We must remain pragmatic. Insurance exists because history has shown that these spills do occur and it is best to be protected. That is why there is demand for the insurance products being offered. Countries in the Caribbean will not forego the opportunity to claim damages due to a Guyanese oil spill because we gave them coconut trees to plant. We are dealing with political sharks whose countries we lent money to when sugar was king. His Excellency President Burnham struggled to receive payment for those loans.
We must as a country avoid repeating those mistakes. Renegotiate the oil contract and ensure that we have insurance coverage that will ensure and assure that all resulting damages are covered. Better to be safe than sorry. Exxon has a history of not playing by the rules. We cannot afford to blindly trust them. As for the cost of the insurance, it should not be considered a part of their operating expenses which we pay. Exxon knows what they should be doing and we need to have this discussion with them from a first world perspective.
Sincerely,
Jamil Changlee
Chairman
The Cooperative Republicans of
Guyana