Vote for a political party that will renegotiate the oil contract

Apr 06, 2025 Letters

Dear Editor,

As our nation approaches yet another critical election later this year, the responsibility on the shoulders of voters has never been heavier. We are a country blessed with vast natural resources, yet many of our citizens continue to struggle with poverty, unemployment, and inadequate public services. One of the most significant factors contributing to this paradox is the current oil contract, which has failed to deliver the fair share of benefits that should rightfully belong to the people of Guyana.

Our oil resources are a national treasure, an inheritance that belongs not to a select few, but to every citizen. Yet, for several years, we have watched foreign companies and private interests reap enormous profits from the extraction of our natural resources, particularly oil, while our communities remain underdeveloped and neglected. The terms and conditions of the existing oil contract are deeply unfavourable to our country. The agreement that was criticized heavily by Dr. Bharrat Jagdeo– now 2nd Vice President- citing that the contract with ExxonMobil was not in the best interest of Guyana, and who promised the electorate in 2020 to renegotiate the oil contract, reneged on his commitment. It has resulted in a situation where the bulk of the profit generated by the oil goes into the pocket of the investor/shareholders and not the people of Guyana.

This is why it is imperative that, in the upcoming elections, we as voters make a conscious and deliberate choice. We must only cast our votes for a political party that has made a clear, public, and uncompromising commitment to renegotiate the oil contract. Nothing less will suffice. Any party that refuses to address this issue, or that offers vague promises with no clear plan of action, does not deserve our support.

Renegotiating the oil contract is not just about economics, it’s about justice and fairness. It’s about ensuring that the wealth derived from our natural resources is used to build better schools, modern hospitals, reliable road networks and infrastructural development, and create jobs for our people. It’s about breaking free from a cycle of dependency and exploitation that has held our country back for far too long.

Some may argue that renegotiating international contracts is a difficult and complex process, and they would be right. But difficulty does not mean impossible. Countries around the world have successfully renegotiated similar agreements when they realized that the terms were unfair to their people. It requires courage, leadership, and above all, the political will to put the interests of the nation first. We should expect no less from those seeking our votes.

The time for empty rhetoric and broken promises is over. This election presents an opportunity for us to demand accountability and genuine action.

We need to ask ourselves: who is willing to fight for the rightful share of our national wealth?
Who has a concrete plan to renegotiate the oil contract in a transparent and fair manner?
Who will ensure that the benefits of our resources reach every citizen, rather than being siphoned off by foreign companies and the privileged elite?

Our vote is our voice, and we must use it wisely. Let us not be swayed by temporary handouts, grand speeches, or short-term promises. Instead, let’s look at which political parties are truly committed to protecting our national interests and securing a better future for all of us.

We owe it to ourselves, and to future generations, to make the right choice. Vote only for a political party that is ready and willing to renegotiate the oil contract. Our future depends on it.

Sincerely,

Ricky Ramsaroop

Member of Parliament.

(Vote for a political party that will renegotiate the oil contract) (Vote for a political party that will renegotiate the oil contract)

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