Exxon contract shows a lack of responsibility and care for the citizens

Dear Editor,
The recent release of the Exxon contract shows a lack of responsibility and care for the Guyanese people and the environment.
Firstly and most importantly this nonsense about no taxes for Exxon because they stuck by us is the most absurd form of reasoning I have seen in the business world.
We are doing business with them and they came to Guyana with the expectation to do business in an environment that requires taxes to be paid. An extension of 10 years on the agreement is already a great way of saying thank you for sticking by us throughout the years and that would have been enough.
Is the current administration willing to let all Guyanese not pay taxes, corporate, VAT etc, because the citizens of this country have stuck by their side throughout all the hardships over the years? No, of course not, instead they are increasing the amount the common man and woman has to pay, while at the same time reducing job opportunities. I cannot think of a better way for the current administration to shoot itself in the foot.
In addition, they are forgetting that Exxon must recoup its operating costs before reporting any profit that will be shared. The current contract gives up the government’s ability to capture the additional revenue via taxes before reaching the net profit line in the income statement.
This would have provided an opportunity to have a more balanced agreement and would have provided an additional safeguard in terms of funds that could be used to strengthen the environmental agencies while also providing additional funds for any oil spill clean-up work that might occur and funds for any benefit needed for the seafood industry in the event of such a spill.
The only recourse left is the EIA (environmental impact assessment) that is still poorly outlined and urgently needs to be addressed. This needs to be done as soon as possible if we are serious about protecting the Guyanese populace and serious about ensuring they are not taken advantage of.
The US$300,000 that will be provided annually is not earmarked for the purpose of helping in the event of an oil spill and to forego the taxes that are supposed to be paid may be considered in some circles an act against the best interest of the Nation. Now, how is this administration going to face the hardworking citizens of our beautiful country and ask them to pay the taxes they cannot afford, while giving a walkover to one of the wealthiest companies in the world. According to Forbes, Exxon paid over $100 Billion US dollars in taxes from 2007 to 2016.
The amount they would have had to pay Guyana would have been relatively insignificant to them, while being quite substantial for the improvement of our economy. Instead the APNU/AFC administration has decided to place the burden on the backs of the citizens of Guyana. This, my friends, makes no sense and clearly slows down the journey to the “Good Life for all Guyanese”.
I am disappointed with this clearly preventable walkover.
Sincerely,
Jamil Changlee