Exxon: a possibly darker shadow, a larger footprint 

Mar 15, 2024 Features / Columnists, The GHK Lall Column

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H@rd Truths by GHK Lall

Kaieteur News – It is off to arbitration for Exxon in the now broiling matter involving Chevron. It is the sharpness of capitalism’s ferocious competitive instincts at its best, possibly its worst also. Some wise fellow said on the appearance this issue that when elephants fight those underfoot should run for any available cover.  In other circumstances, I could agree.

But not when it is the inheritance of Guyanese that is involved, not when it is the destiny of every Guyanese that is at stake.  As Exxon and Chevron battle it out, and the dragon from China watches on from its luxury box, I have some ideas now shared with fellow Guyanese.  Mr. Routledge and Excellency Nicole D. Theriot are most welcome to listen in on any extension that they have arranged.

Every Guyanese should want Exxon here.  I do.  But it must be on our terms only.  Not the failed ones of President Ali, Vice President Jagdeo, and Opposition Leader Norton.  Strangely, I would prefer Chevron here, as potentially weakening and destructive as that could be for Guyanese.  I face this fact, and every Guyanese should: the presence of Chevron here with its 30% stake is like having an Exxon twin in the midst, and both onshore and offshore.  Mike Wirth, the CEO of Chevron, is not going to be as garrulous as John Hess, but that is what makes him more dangerous, situation treacherous.  A stealth bomber, another oil usurper, one more alpha oil predator.  Guyana would be in for it, and with Drs. Ali, Jagdeo, and Norton already lost and limping from the weight of the challenges and demands of this heavy oil patrimony, there is only one road ahead of them.  It is downward sloping.

If a grandfatherly figure like John Hess could have tied up President Ali’s hands, and frozen President Jagdeo’s lips (his mind also), then there is no limit to what a ruthless CEO of Mike Wirth’s caliber could not do with these remarkable Guyanese sons.  Mincemeat first, with lumpen national leadership sausages to follow.  I shudder at the thought, I recoil from how far these two great Guyanese in the PPP Government could be pushed, how hard they would fall.  The concern is that as Ali and Jagdeo (and brother Norton) go, so also goes the rest of Guyana.  Still, I prefer the presence of Chevron here, and here are the reasons why I am where I am.

If Exxon succeeds in its arbitration fight with Chevron, then the outlook for Guyanese just got grimmer, neon billboards notwithstanding, President Ali applauding, and VP Jagdeo surrendering.  I think that Exxon has the stronger hand, and it should prevail.  I am not concerned with what it may squeeze out of Chevron; or where this leaves Mr. Hess.  My interest is of things Guyana, the reality of what such a victory of the men from Texas could mean for this land and its peoples. Taking the largest swipe and slice, an Exxon triumph means that it ends with 75% of the coveted Stabroek Block.  Seventy-five percent is as good as a hundred percent by my calculation.  With Hess Corp then banished, and Chevron probably vanquished to the sidelines, there is only the Chinese left.  They are content to go along to get along and grab their sweet piece of the Guyana action.

Look at what the world has come to in Guyana.  Commies, Yankees, and men from the old US Confederacy ganging up to gouge Guyanese.  Where is Senator Joe McCarthy when he is needed?  Well, Guyanese will have to settle for Donny come November. I am going on record as anticipating the worst from Exxon owning 75% of the Stabroek Block in Guyana.  That means even more controlling of Guyana’s executive, Guyana’s legislature, and Guyana’s captains of commerce and industry.  The Chinese could be next in Exxon’s sights, the chopping block waiting.  For now, there is the Exxon versus Chevron dogfight.  While they maul each other over the rights of primacy over Guyana’s wealth, sensible Guyanese leaders should seize the opportunity to soften the ground under their feet.  Pave the way for them to collapse under their own weight and give us openings to come into our own.

This is what astute Guyanese would do, from leaders to any locals still breathing.  Slowdown new project approvals.  Nourish the EPA, so that it gets past its milk teeth state.  Leak new discovery numbers to the public.  Find a way that expense billions spill into the public domain.  The bad news for Guyanese is that President Ali, VP Jagdeo, and Opposition Leader Norton are only more interested in doing what is good for Exxon.  It keeps them out of Ambassador Theriot’s hair, puts a pause on any last-minute invitation from Secretary Blinken to fly to DC.  This is all wasteful of the Guyanese legacy. Here is a parting thought: if Exxon walks over us as it does today with 45% of the Stabroek Block, what would it not do with 75% in its hands and control.  With 45% in hand, Exxon is already running this country.  With 75% it will run all over it.

(The views expressed in this article are those of the author and do not necessarily reflect the opinions and beliefs of this newspaper and its affiliates.)

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• Chevron, Exxon, footprint, GHK Lall, H@rd Truths

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