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Energy experts warn Guyana-ExxonMobil deal is fool’s gold

January 12, 2021

Kaieteur News:

As Guyana hurtles headfirst into approving multiple ExxonMobil field developments, energy transition advisor, Gerard Kreeft, warns that the billions of dollars, or the pot of gold that Guyana is being promised is an illusion of the worst sort.

Kreeft appeared on a virtual forum on Sunday last, during which International Lawyer, Melinda Janki, delivered a scathing rebuke of Guyana’s relationship with ExxonMobil. The forum was aptly titled ‘Oil and the betrayal of Guyana’s working people.’ 

Kreeft pointed to a report by the Institute for Energy Economics and Financial Analysis (IEEFA), which states that revenues from the oil will be insufficient to cover Guyana’s deficits, support new spending and build wealth. 

[Staff Report]

More: ‘Pot of gold’ Guyana being promised is an illusion of the worst sort — Energy Expert

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