Dear Editor,
The survey results released by Ram and McRae clearly shows that the current administration must realign its thinking on the PSA and the willingness to renegotiate with the will of the people. This survey, which reflects a sample size that has a 95% confidence interval and less than a 9% margin of error for a population of 1M people should be taken seriously. It clearly shows that the Guyanese people are in favour of ExxonMobil paying its fair share of taxes, ring fencing its projects, and that the royalties paid should be increased. This is the key election issue of 2025!
CRG has been calling for, and will continue to call for the renegotiation of the PSA. We also encourage Parliament to call for a referendum on this issue during the upcoming general elections. A referendum which clearly asks the people of Guyana if the next government should renegotiate the current PSA with ExxonMobil and be held accountable for doing the will of the people in this urgent matter. If passed in favour of renegotiation, then Parliament must act. They must pass legislation that supports the renegotiation of the current PSA to ensure that taxes are paid by ExxonMobil, ring fencing occurs and royalty payments are adjusted upwards.
CRG also calls for the investigation into the establishment of the current PSA with Exxon. An investigation that is aided by the authorities in the U.S. and rooted in the articles outlined in the Foreign Corrupt Practices Act of the United States. If foul play is determined then a retroactive penalty should be placed on ExxonMobil that reflects and recuperates the earnings lost by Guyana due to any foul play involved. The additional earnings obtained from the penalty and adjustments in the PSA with ExxonMobil will easily support the establishment of a monthly cash grant for the citizens of Guyana.
Sincerely,
Jamil Changlee
Chairman
The Cooperative Republicans of Guyana