By Arthur Piccolo
News Americas, NEW YORK, NY, Mon. April 8, 2024: Everyone should be outraged by President Joe Biden’s lack of interest in the nightmare taking place in Haiti. Sadly, it extends far beyond Haiti to encompass his cavalier attitude toward all of South America and Caribbean. In this regard he is no different than the make believe previous President.
Guyana proves this as well as so many other nations. Biden’s unwavering “policy” (sic) of benign neglect. Also known as get lost leave me alone. This could be no further than any view of American greatness. It is embarrassing.
Exxon’s outrageous exploitation of Guyana is nothing less than 21st century colonialism. Call it slavery if you like. They sold Guyana a sucker deal to rape Guyana’s natural resources, a deal only possible with Guyana’s corrupt previous government. Now under the leadership of President Ali he must demand the United States government specifically President Biden and the U.S. Congress force EXXON to renegotiate a real and fair deal with Guyana.
In the shadow of history, the specter of colonialism lingers over Guyana, manifesting not through the conquest of land but through the extraction of resources. At the heart of this modern tale of exploitation lies the “criminal” contract between Guyana and ExxonMobil, a narrative that underscores the enduring imbalances of power and wealth reminiscent of a bygone era.
The discovery of oil off the coast of Guyana promised a future of prosperity and growth. Yet, the dream faded as the details of the contract with ExxonMobil, Hess, and China National Offshore Oil Company surfaced, revealing stark disparities. Under this agreement, Guyana found itself cornered into a position of vulnerability, reminiscent of the large, shadowy figure looming over the vibrant landscape in our metaphorical imagery.
At the crux of the exploitation are the financial terms dictated by the contract, which heavily favor ExxonMobil and its partners:
No one in the 21st century can possible find this acceptable. Worst of all Exxon one of the eight largest and most profitable companies on Earth has absolutely no reason to exploit Guyana. What does it say about the so called leadership and morality of Exxon that their corporate “culture” is to exploit others as much as they can get away with doing and nowhere worse than in Guyana. And the Biden Administration and Congress remain silent ??
Profit Sharing Imbalance: Guyana is entitled to only a fraction of the profits from its oil reserves. After the consortium recovers 75% of its operational costs, the remaining profits are split, leaving Guyana with effectively 12.5% of the overall profits. Guyana’s share must be 50% or more.
Tax Concessions: In an unprecedented move, the contract absolves ExxonMobil and its partners from paying income taxes in Guyana, transferring this burden onto the shoulders of the Guyanese government. This decision is estimated to cost Guyana at least USD$1.7 billion over five years, significantly reducing the nation’s take from the oil deal.
Environmental and Fiscal Risks: The contract’s lack of stringent environmental protections and fiscal oversight exposes Guyana to potential ecological disasters and financial instabilities, akin to the mythical creature stirring the ocean into a frenzy, symbolizing the turmoil introduced by colonial powers of the past who enslaved all of the Caribbean and plundered all of their resources and took their future from them.
The echoes of colonialism resonate in the structure of this deal, where the wealth of Guyana’s natural resources flows outward, enriching foreign corporations while the nation bears the costs. The agreement stands as a modern testament to exploitation, where the imbalance of power and wealth perpetuates the dynamics of the colonial era. This is criminal.
Guyana must renegotiate this bogus contract and demand terms represent a broader struggle for sovereignty, environmental stewardship, and equitable development. This fight mirrors the small, vibrant landscape striving against the looming shadow of industrial progress, will symbolize the nation’s quest for its fair share in the wealth beneath its waters and the preservation of its natural beauty for future generations.
The story of Guyana and ExxonMobil is a stark reminder of the contemporary forms of colonialism that exist in the guise of economic agreements and resource extraction. As Guyana stands at the precipice of change it must fight against the terms of exploitation while underscores a global challenge: the need to redefine 21st century sovereignty and ensure that nations can harness their natural wealth in a manner that is fair, sustainable, and beneficial for their people. The tale of Guyana’s oil is not just a local issue but a global call to action against the remnants of colonialism in our interconnected world.
President Biden and Congress have no right to stand on the sidelines while a huge American company Exxon plays Godzilla feasting on Guyana. Worst still it is another horrible example of President Biden presiding over the further decay of America’s leadership and moral compass even worst evidence by Haiti’s descent into Hell as President Biden does nothing.
President Ali, trust me, if most Americans knew what Exxon is doing to Guyana, they would rally around you and your nation. Raise your voice in Washington, DC and demand the Unites States stop Exxon exploiting Guyana. On your next trip to the U.S. be sure to go to Washington to meet with President Biden and leaders in Congress. It must STOP right now !
Godzilla must not win in Guyana, or Haiti or anywhere else in the Americas. It is long past time the United States agrees all of the nations of the Americas must be full partners with the United State. If America’s greatest immigrant the legendary Alexander Hamilton born in the Caribbean, was alive today, President Biden would not get away with his neglect of the region.
EDITOR’S NOTE: About The Writer: Arthur Piccolo is a professional writer and commentator and often writes about Latin America for New Americas. His comments are his own and does not represent that of NewsAmericas or its parent company.
