Dear Editor,
The Attorney General is convinced in his assessment of how to ensure that ExxonMobil will pay in the event of an oil spill even if it is $100 Billion dollars. Given his conviction in the law, he should have no problem in getting a legally binding signed agreement from the parent company supporting his conclusion that they will pay all costs in the event of a major oil spill. Unfortunately, what the AG has overlooked is the requirement that ExxonMobil carry such a liability mitigation strategy in its financials. This must exist to ensure that in the event of a major spill or environmental disaster there is no delay in payment, and investors are aware of the potential liability.
The AG must therefore also ensure that there is a financial instrument to back up the legal requirement as stated in the law that has convinced him that there is no reason to worry. He must also consider that ExxonMobil is in litigation in numerous parts of the world for issues surrounding their operations and the environmental damage they have caused. This is not a producer that will voluntarily do the correct thing. We must have a legally binding signed agreement to ensure we will get what the law requires. In lieu of such an agreement, the EPA and the AG must act accordingly with what is best for Guyana and its citizens, and they must stand on the correct side of the legal proceedings.
Sincerely,
Jamil Changlee
Chairman
The Cooperative Republicans of
Guyana
