K
T&T Prime Minister Friday Edition NEWS shows Guyana renegotiation is possible, in changed situations AIETEUR
August 28, 2020 -Vol. 22 No. 33
Online: www.kaieteurnews.com
Guyana’s largest selling daily & New York’s most popular weekly
Price $80
- Gets more than crumbs for Trinidad’s oil assets
Online readership yesterday, 146,066
Exxon’s threat to take investment elsewhere shows how worried it is - Guyana has no reason to be afraid - Dr. Mangal
No alternative to renegotiation Mingo at CID yesterday
GECOM IT technician arrested as probe continues - Mingo remains in custody
Exxon says it is amenable to a review but not the renegotiation of its contract. It says that renegotiation would compromise the principle of sanctity of contracts, which is critical for investment planning. Renegotiation of contracts is not unusual, illegal, improper or unreasonable. It happens all the time. The central purpose of a review is to pronounce on what can be improved. Renegotiation, thus, is the natural progression, which flows from any genuine review of agreements. The Government of
Guyana cannot be all things to all people. The new government has not shown any sign that it is intimidated by Exxon or obligated to the Americans because of its support for electoral d e m o c r a c y. Tr i n i d a d i a n P r i m e M i n i s t e r, K e i t h Rowley rightfully said last year: “There’s a role for the government in ensuring that the people… while being participants in this very lucrative business, get more than crumbs that fall off the table.” The government should not be unsettled by the threat of investment flight or the
loss of commodity markets. ExxonMobil has greater reason to remain than to leave. Guyana is a rich vein of fortune for Exxon and its partners. Guyanese has had enough of these red herrings that leave us hungry and hurting.We repeat that it is time to renegotiate the Exxon contract. It must give Guyanese something better on which to hang their hopes. As such, we proclaim that there is no alternative to renegotiation. Guyanese are entitled to a fairer share of their wealth. Renegotiation must follow any review.
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