From Blessing to Burden

Nov 13, 2020 Front Page Comment, News

Kaieteur News – Our oil which should have been a blessing is becoming a burden. The numbers tell the story of shady dealings, covetous politicians and cunning middlemen. From ExxonMobil Guyana would get approximately US$200M in 2020. But the bill from CGX for preliminary work on one dry well in the Corentyne block is US$155M. CGX must really think that Guyanese are illiterates and idiots. They must be required to provide the evidence that they actually drilled a well. That US$155M must be fully scrutinized for possible overstated costs. It is the equivalent of renting an apartment for GY$50,000 per month, but the tenant presents a bill for imaginary repairs for nonexistent damages (that he himself caused) totaling GY$60,000. As can be seen, on a net basis, the landlord is paying the tenant for living in the apartment. Now think of the landlord as Guyana and the tenant/operator as CGX. CGX is the kind of tenant/operator that PPPC leaders saw fit to conduct our oil business. It is the same CGX that the APNU coalition was so impressed with, that it gave it a 3-year extension. The way we look at it is that both the PPPC and the Coalition are in bed with CGX. That US$155M confirms our suspicions.