The total electoral devastation of the Democratic Labour Party(DLP) and the political exit door shown to former Prime Minister, Freundel Stuart, by the Barbados electorate at the elections last Thursday, is an apt and decisive answer to the vicious attack Stuart made on the Caribbean Court of Justice earlier in the week, when referring to the judges derogatorily as ‘politicians in robes.’ It is not unusual for politicians to be peeved by court decisions. Guyanese politicians have expressed ‘concern’ about issues relating to the CCJ on several occasions in the past, including the recent past.
In the UK, the developed country from which we inherited our laws and jurisprudence, and whose precedents are the most influential in the CCJ, judges and courts are regularly criticized, as they should be. But Stuart did not merely criticize; he unjustifiably attacked the CCJ for political bias and undertook to withdraw from the Court. Had he won the elections, Barbados’s withdrawal would have dealt a crushing blow to Caribbean unity and, worse, would have weakenedCaribbean jurisprudence and the rule of law in the region.
With the production of 500,000 barrels a day for 300 days a year at US$40 a barrel, the annual income would be US$6 billion. The cost of production of oil varies widely, depending on whether it is onshore or offshore and if offshore, how far away and how deep. To give some idea North Sea oil was produced by BP in 2014 at US$30 a barrel. It went down to US$15 a barrel in 2017 and is expected to go down to US$12 a barrel by 2020. The estimated cost of production in offshore Guyana has not been made known by either the Government or ExxonMobil. We are therefore left to speculate.
Assuming that a maximum of about half of the income would be deducted as production costs, US$3 billion would be deducted as production costs from an annual income of US$6 billion. Guyana would earn 50 percent of the profit, that is, US$1.5 billion plus 2 percent of US$6 billion as royalty which would add another US$120 million. At minimum, therefore, Guyana’s economy would double. More likely than not, Guyana’s economy would grow to three times its current size and even more, if the price remains around US$60 per barrel and if more discoveries are made resulting in higher production. ExxonMobil has drilled only eight wells in seven of which oil was discovered. It plans to drill another twenty. There are also other blocks to be explored by other oil companies and other blocks yet to be given out for exploration.
Being away for the past six weeks allowed me the luxury of leisurely contemplating Guyana from afar. The news emerging was not encouraging. The prison was burnt down and prisoners escaped; then more escaped from Lusignan. A disaster waiting to happen, it was said, but nothing of significance was done to prevent it. Perceptions of the Constitution, where it differed from the Court’s, were given equal weight. Secret dealings with ExxonMobil are justified on blatantly flawed and trivial excuses. Budget allocations are not being disbursed thus limiting economic activity and job creation. Rupert Roopnaraine resigned, then changed his mind.
Freddie Kissoon and Kaieteur News continue their decades long, personal, vendetta against me, because of an apology he and KN were forced to make to me more than twenty years ago. In pursuance of his hate campaign, Kissoon regurgitates stories that I have already fully answered ten and more years ago – answers which he does not reveal when he rambles on, ad nauseam.
The campaign against the unilateral and undemocratic imposition of parking meters in Georgetown is at last bearing fruit. The Government has been persuaded to intervene and had asked the City Council to suspend the operation of the contract until a renegotiation of its terms can be effected. At a time when the Government has been taking criticism for being indecisive, it has shown commendable resolve in this matter, even though a bit late.
The campaign against the parking metes was sustained by the outrage of citizens at the exorbitant charges imposed. These charges are simply not affordable by most of the people who are employed in Georgetown and travel to work in their motor cars. The same case that has been made by teachers at Bishops High and staffers at the Bank of Guyana, who were given free parking by Smart City Solutions (SCS), applies to most others.
Public rage in Georgetown continues to grow and expand as last Thursday’s massive demonstration shows, even as the Government has finally been forced to intervene in the parking meter fiasco. But it is too little too late. Boat gone a’ fall. The demand is now for the rescinding of the flawed agreement between the City Council and SCS.
The Government faltered when it allowed the City Council to proceed with the parking meter secret project, with charges that were outrageously high – 37 percent of the average monthly salary in Guyana as compared with a high of 13 percent of the monthly salary in the US. After the meeting between the Government and the City Council, the Government did not call for the release of the secret agreement. That is a telling omission.