Dear Editor,
Exxon has yet to share what the estimated cost is to clean up an oil spill in the worst case scenario. The scenario planning was done, the simulation was done and the cost to clean it up has yet to be shared. The government hearing in the US had presented the argument for coverage in the range of $10 Billion US Dollars. This was the result of their experience with previous oil spills. Why hasn’t Exxon been willing to share the cleanup costs for a spill that they know could affect other countries in the region? This is where the discussion must begin.
The government of Guyana must not turn a blind eye to the high level of risk that such a spill poses. The current argument that they can’t afford increased coverage and that it could shut down the sector is being made to scare the public. The government should be insisting on coverage that will meet the estimated costs associated with the worst spill outlined in Exxon’s simulation. The simulation should also be done by a neutral third party to ensure transparency. CRG encourages the chambers of the attorney general to take a step back to adjust its position. We must not run blindly behind revenue while risking losing more than we receive. The loss due to a major spill could cost not just the revenue gained, but also the health of those in the region.
A government which has the best interest of its citizens in mind would be vehemently arguing for all oil and gas suppliers in the sector to carry the appropriate level of coverage. Clearly ExxonMobil’s current insurance coverage is inadequate. The EPA and the government should not be bending over backwards to cater to such unscrupulous behaviour. Let’s not forget the missing signing bonus. Let’s not forget the scholarships for the children of ministers. Let’s not forget the high level of unauthorized deductions in billed expenses. Let’s not forget the unauthorized negotiations and subsequent reduction in the amount owed to the GRA.
A good business partner and supplier does not deal underhandedly with those they do business with. The chambers of the attorney general has yet to launch a thorough investigation into the expense fiasco, and utilize the Foreign Corrupt Practices Act with the help of the US Government. The dealings of our government and its officials must be able to withstand public scrutiny. If the government is unwilling to fight for what is best for our citizens then it must be replaced. It is CRG’s hope that this government doesn’t insist on going in the wrong direction on this very important issue.
Sincerely,
Jamil Changlee
Chairman
The Cooperative Republicans of
Guyana
