Saturday, June 21, 2025
Village Voice News
ADVERTISEMENT
  • Home
  • News
  • Sports
  • Editorial
  • Letters
  • Global
  • Columns
    • Eye On Guyana
    • Hindsight
    • Lincoln Lewis Speaks
    • Future Notes
    • Blackout
    • From The Desk of Roysdale Forde SC
    • Diplomatic Speak
    • Mark’s Take
    • In the village
    • Mind Your Business
    • Bad & Bold
    • The Voice of Labour
    • The Herbal Section
    • Politics 101 with Dr. David Hinds
    • Talking Dollars & Making Sense
    • Book Review 
  • Education & Technology
  • E-Paper
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Sports
  • Editorial
  • Letters
  • Global
  • Columns
    • Eye On Guyana
    • Hindsight
    • Lincoln Lewis Speaks
    • Future Notes
    • Blackout
    • From The Desk of Roysdale Forde SC
    • Diplomatic Speak
    • Mark’s Take
    • In the village
    • Mind Your Business
    • Bad & Bold
    • The Voice of Labour
    • The Herbal Section
    • Politics 101 with Dr. David Hinds
    • Talking Dollars & Making Sense
    • Book Review 
  • Education & Technology
  • E-Paper
  • Contact Us
No Result
View All Result
Village Voice News
No Result
View All Result
Home Editorial

Oil and Transparency

Staff Reporter by Staff Reporter
September 2, 2021
in Editorial
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The average Guyanese is still to know how this vast amount of oil and gas will impact their economic livelihood and standard of living. Recently the Minister announced that Guyana would be able to produce 10-13 billion barrels of oil from exploration thus far. How will this impact the lives of citizens the government is yet to make known and provide tangible evidence of.
Guyanese are aware the local and external debt ceilings have been raised. What this means is that the government will now be able to borrow more. But borrowing more should not mean reckless borrowing and spending because the money will still have to be repaid by the taxpayers.  The held view is that the government is borrowing against projected revenue from oil and what is in the Sovereign Wealth Fund which is banked in the United States.

There is also the issue of how much the oil giants are expected to pay Guyana for extracting our oil and gas vis-à-vis how much Guyana is expected to pay or offset in operational expenses and tax exemption to these companies. In simple mathematical terms there is a feeling amongst Guyanese that all is not well and the average man and woman should not be optimistic that this oil bonanza will have anything in store for them.

READ ALSO

Endorsements Mean Nothing but the Stakes Couldn’t Be Higher

GECOM stands at a dangerous crossroads

The Government of Guyana is also not living up to campaign promises of transparency and renegotiating the oil contracts. They continue to evade questions and accountability, neither of which is good for Guyana. Pre-election promise to release ExxonMobil and other oil dealings thus far remains just that- a promise.  This will not do.

For instance, one year after the Irfaan Ali government the people of Guyana are awaiting information on ExxonMobil’s exploration spending.  It is said the oil giant claimed a spending of US$460 million prior to 2015 exploration and more than $US1 billion from 2015-2017 in developing its Liza Phase One operations. There is also secrecy surrounding the proposed Wales gas to shore project.

Transparency is important to governing and the sooner the government acknowledges, provides the people with answers and accountability the better it will be for all Guyanese, including the government. Secrecy not only leads to speculation but creates the environment for corruption. And it is well known the social, political and economic fallout that occasioned such practice.

ShareTweetSendShareSend

Related Posts

Editorial

Endorsements Mean Nothing but the Stakes Couldn’t Be Higher

by Admin
June 15, 2025

In Guyana’s noisy political theatre, endorsements are the latest distraction masquerading as momentum. One figure defects, another makes a grand...

Read moreDetails
Editorial

GECOM stands at a dangerous crossroads

by Admin
June 8, 2025

The Guyana Elections Commission (GECOM) stands at a dangerous crossroads. With the date for General and Regional Elections now declared,...

Read moreDetails
Editorial

Our Soldiers Deserve Better Before It’s Too Late

by Admin
June 1, 2025

While the rest of the nation sleeps, our soldiers in the Cuyuni Region are awake. Eyes fixed on the horizon,...

Read moreDetails
Next Post

Fatal accident or murder?


EDITOR'S PICK

CANU in $14M ganja bust at GNIC Wharf

January 19, 2022
Chinese students wait outside the U.S. Embassy for their visa application interviews, in Beijing on May 2, 2012. Alexander F. Yuan/AP

U.S. resumes visas for foreign students but demands access to social media accounts

June 19, 2025

… US congresswoman calls on international actors to stop interfering in GECOM process …urges greater respect for Guyana’s sovereignty

June 17, 2020
Stakeholders of the recently unveiled Skills and Anatomy Lab 
Left to right: 
Dr. Martina Mc. Kenzie – Assistant Dean, College of Medical Sciences, 
Professor Paloma Mohamed, Vice Chancellor – UG 
Dr. Cecil Boston, Dean, College of Medical Sciences 
Professor Rajni Karup, Dean of Graduate Studies, College of Medical Sciences 
Dr. Roberta Martin, 3rd Year MBBS Coordinator, College of Medical Sciences

Greater Guyana Initiative funds UG’s School of Medicine Innovate Skills and Anatomy lab

January 29, 2024

© 2024 Village Voice

No Result
View All Result
  • Home
  • News
  • Sports
  • Editorial
  • Letters
  • Global
  • Columns
    • Eye On Guyana
    • Hindsight
    • Lincoln Lewis Speaks
    • Future Notes
    • Blackout
    • From The Desk of Roysdale Forde SC
    • Diplomatic Speak
    • Mark’s Take
    • In the village
    • Mind Your Business
    • Bad & Bold
    • The Voice of Labour
    • The Herbal Section
    • Politics 101 with Dr. David Hinds
    • Talking Dollars & Making Sense
    • Book Review 
  • Education & Technology
  • E-Paper
  • Contact Us

© 2024 Village Voice