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Of the many doctrines adhered to, the two thereunder are irreversibly embraced.
- Thou shalt not argue with a dunce.
- Thou shalt not publicly educate a dunce.
For the underpinning rationale, is self-evident. The dunce being of more ego than braincells, is likely to be of a feral outburst.
That said, from evidence discerned, it would appear that the hapless Donald Ramotar, wasn’t edified on such matters. For astonishingly in the presence of many, he set out to publicly educate the Uitvlugt dunce, on matters of renegotiating the lopsided oil contract. But the Uitvlugt dunce, being brainlessly boneheaded, was predictably feral, thus disparagingly labelled Donald Ramotar, a charlatan, a wannabe oil specialist. However, the expression of such feral hilarity, from the Uitvlugt dunce, set the nation in a tailspin of uncontrollable laughter. Since, known nationwide, the Uitvlugt dunce happens to be the one who is the specialist. A specialist in online ghost universities, that issue phantom degrees, devoid of tangible transcripts.
Having said that, with Exxon embracing the Uitvlugt dunce feral outburst, it’s wholly unsurprising, we are now being treated like inexperienced porn stars. That is, being contorted into all manner of excruciating political positions, so that they can rob us of our virgin oil. However, if ever in doubt of this incestuous contract, a summary is thereunder.
- 2% royalty: Translates to a meagre 2%, on being brutally raped of our oil.
- 75% Cost Recovery: Rewards us a pauperised 12.5%, after Exxon 75% recovery reductions.
- No ring-fencing: Means profits aren’t segregated, hence diluted by Exxon’s fictitious losses, equating to less profits and less gains for us.
- Cost-recovery on future production bills: This maximises Exxon’s bills, to minimise profits and our gains.
- Zero rate profits tax: In effect, no taxes on profits, meaning zero gains for us.
Therefore, painfully obvious it must be, from the aforementioned arrangement, we are on the receiving end of an Exxon and partners, vicious gang raping of our oil. For our royalty is so ridiculously low, that we are literally aborting tens of millions, each day that we are being mercilessly drilled. The fact is, there is no other oil producing nation, in a world of fools, that has such low royalty and associated high Cost Recovery. In fact, these monies that PPP is awarding Exxon, could go a far way in providing Public Servants, a livable wage. And it’s for this reason, it’s beyond logical that this contract must be renegotiated, if future generations are to benefit from this rich resource.
But this is a reminder, PPP election 2020 manifesto, more aptly, election 2020 many lies, promised to renegotiate the oil contract, that favours Exxon. However, having been illegitimately installed, their position changed, to now protecting Exxon, from Judges and the renegotiation table, claiming a mortal fear of impacting investors’ confidence. Thus, the obvious question is, weren’t they aware of the impact on investors’ confidence, when they made this manifesto promise? Most certainly they were, thus evidencing, we are in an unforgiving threesome, being simultaneously shafted by PPP and Exxon.
Mark’s Take
Therefore, to better understand our options, we will explore our binary possibilities.
- Not renegotiating the contract.
- Renegotiating the contract.
Where it can be inferred, not renegotiating the contract, is favourable to investors’ confidence, but deleterious to our future generations. On the other hand, renegotiating to a more equitable contract, may adversely impact investors’ confidence, but certainly benefit future generations. Thus, taking into account both sides of the argument, this writer is of the considered view, renegotiation of the contract, is the better of the two options.
Which takes us to the elephant in the room; how can we instigate renegotiation with Exxon, considering both parties’ concurrence, is mandatory? In fact, this is certainly uncomplicated, considering the oil is secured in our seas. For we can employ this sovereign argument, in forcing Exxon to the negotiating table, in tandem with these thereunder.
- Public lobbying: This entails, but not limited to, bipartisan public protest, bringing pressure to bear on PPP, forcing Exxon to renegotiate.
- Denying Exxon future permits for new wells or fields: This should be our nuclear option if Exxon refuses to play ball.
Notwithstanding, this is the inescapable truth, the Exxon favoured oil contract isn’t viable, thus must be renegotiated. However, PPP is unfortunately advocating for Exxon, engaging in scaremongering tactics, arguing without supporting evidence, that renegotiation will scare off potential investors. But we know the alternative is far worse, our country being ruthlessly exploited, and future generations having nothing to show for it.
