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From page 29 place in case of an oil well blowout to safeguard the country and its citizens? 19. Why does Guyana not know the interest rate they are paying on the US$20B loan sitting out there for the Liza 1, 2 and Payara? 20. By law no oil company should get more than 60 oil Blocks. Why ExxonMobil was given 600? Mr. Leaders. 21. Every five (5) years all oil companies have to relinquish 20 percent of their oil blocks. Why did our leaders extend the time for them? 22. Why is it that our leaders, including VP Jagdeo, not asking much less demanding a renegotiation of this one-sided lopsided Exxon contract when it is clear in the PSA that both parties have to agree? 23. Who is selling our oil, at what price and what is the arrangement? 24. Is it the citizens who have to go to court to fight for our renegotiation, when the PSA has the provisions for a renegotiation, tell us Mr. Jagdeo. 25. Let me ask this question, is it that you guys are receiving some personal benefits from the oil companies that is preventing all of you from seeking to renegotiate this oil contract. 26. Imagine a citizen, Melinda Janki, had to go to court to get the 20-year EPA permit issued to ExxonMobil reversed to what the law requires. Why Jagdeo? Why Harmon? Why Ramjattan?
Sunday June 13, 2021
Kaieteur News
Why did that woman have to spend her money, her expertise, her time to correct what you guys did when you broke the law to facilitate Exxon? 27. Is it the citizens who have to go to court again to correct the 600 oil blocks given to Exxon, when they are entitled to 60? Those are only 27 questions for now my friends. See you guys on the Friday programme, 19:20 hrs. sharp. I promise to publish in full your written and/or recorded answers. I don’t want any one of you to answer all 27, it’s too much to talk about in one programme, please pick any five or three so we can discuss them Friday on the Kaieteur Radio at 19:20 hrs. SATURDAY OVER 100 ECONOMISTS CALL ON G7 COUNTRIES TO END FUNDING FOR FOSSIL FUEL PROJECTS Ahead of the G7 Summit which got underway Friday, more than 100 economists called on the participating member countries to commit to shifting their finance out of all fossil fuels starting this year so as to enable a “green pandemic recovery.” The Group of Seven (G7) is an informal club of wealthy democracies consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. The heads of government
of the member states, as well as the representatives of the European Union, would meet at an annual summit to discuss a range of issues. As of 2018, the G7 represented 58% of the global net wealth (US$317 trillion). At the Summit which comes to an end tomorrow, world leaders are expected to adopt an agenda to “build back better from coronavirus and create a greener, more prosperous future.” Kaieteur News understands that the economists who co-signed the document believe that adopting such an agenda should mean decisively shifting finance out of fossil fuels and into clean alternatives worldwide. “We welcome the decision taken last month by G7 environment ministers to end international finance to coal-fired power in 2021. But we call on G7 leaders to go further and shift their finance out of all fossil fuels in 2021,” the economists stated. To support the reasoning behind its call, the economists cited part of the International Energy Agency’s damning report which said “there is no need for investments in new fossil fuel supply beyond 2021.” This applies not only to coal, but also oil and gas. Also, research co-authored by the United Nations (UN) Environment Programme shows that oil and gas production needs to decline by about 4% and 3% respectively every year between 2020 and 2030 if global temperature is to be
reduced. Another crucial point that was cited by the economists in their letter is the fact that renewables are becoming the cheapest energy source in most parts of the world. In fact, since 2015, they noted that solar power has become the cheapest form of electricity in history and the cost of
electric vehicle batteries has more than halved. As G7 members inject historic levels of public money into the economy in response to Covid-19, the economists said, “They can take advantage of the tremendous investment opportunities in clean energy and promote a just and equitable transition away from all fossil fuels. We urge G7 leaders to take this opportunity.” They added, “The urgency of the climate crisis
requires that 2021 be a turning point to end investments into fossil fuels. This presents G7 members with both a clear task and an opportunity. Ending new fossil fuel finance will free up billions a year to invest in clean energy, just transition measures and increased support for the clean energy transition in low- and middleincome countries. This will in turn help create the jobs needed to build the greener and more prosperous economy the G7 strives for.”