Kaieteur News

Page 1

K

AIETEUR NEWS

Guyana’s largest selling daily & New York’s most popular weekly

'Reinject gas and save Guyana'

Monday Edition May 30, 2022 - Vol. 15 No. 21 Online: www.kaieteurnews.com Online Price $80 readership yesterday, 81,842

…Energy Technologist tells EPA solar should be pursued instead of gas-to-shore project

UK slaps 25% tax on oil

....to raise $6.3B for citizens gripped by cost of living crisis

companies D-Day looms T

uesday May 31st is DD a y i n Guyana. Tomorrow, Tuesday, the environmental permit for the Liza-1 field development will expire. Whether to renew that permit and the terms and conditions under which it will be renewed, will be a Decision that will Determine our Destiny. As it is now public knowledge, the United States, Canada and the United Kingdom have increased the rate of its taxes on the oil companies. Given the soaring world market prices for oil, the United Kingdom is even contemplating a windfall tax. There is a proposal to do the same in the United States. In Canada, there is already a sliding scale for royalties and taxes. In Guyana, the country's royalty and profit taxes are fixed at 2% and 12.5%, regardless of the world market price. This is utterly unacceptable, especially considering the favourable market

prices which presently exist for oil, the absence of ring-fencing and the generous concessions which the oil companies enjoy. O n t h e environmental front, there remain ambiguities about the extent of insurance coverage under Liza-1. This project has already resulted in environmental harm by flaring. In addition, the cause of the national decline in fish catch remains unsettled.

Guyanese must demand that its government takes steps to claw back greater returns and protections when considering the application for the renewal of the environmental permit for Liza-1. Anything less would be a betrayal of the public trust. We u r g e a l l Guyanese to stay engaged with this process. One day remains before the original environmental permit expires but the decision, which will affect all Guyanese for generations to come.

Gun, scissors seized at 'Stink and Dutty' show

Carpenter kills engineer, stabs another man with steel rod West Berbice man kills self after stabbing ex-girlfriend

Guyana setting bad pattern by spending all its initial oil profits ...Analyst says Exxon drilling for oil, Guyana digging “fiscal hole”


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.
Kaieteur News by GxMedia - Issuu