Dear Editor,
The Attorney General is convinced in his assessment of how to ensure that ExxonMobil will pay in the event of an oil spill, even if it is $100 billion. Given his conviction in the law, he should have no problem in getting a legally-binding, signed agreement from the parent company, supporting his conclusion that they would pay all costs in the event of an oil spill.
Unfortunately, what the AG has overlooked is the requirement that ExxonMobil carry such a liability mitigation strategy in its financials. This must exist to ensure that in the event of a major spill or environmental disaster, there is no delay in payment, and investors are aware of the potential liability.
The AG must therefore also ensure there is a financial instrument to back up the legal requirement as stated in the law; one that convinces him there is no reason to worry. He must also consider that ExxonMobil is in litigation in numerous parts of the world for issues surrounding its operations and the environmental damage its operations have caused.
This is not a producer that would voluntarily do the correct thing. We must have a legally-binding, signed agreement to ensure we get what the law requires.
Apart from such an agreement, the EPA and the AG must act in accordance with what is best for Guyana and its citizens, and must stand on the correct side of the legal proceedings.
Best regards,
Jamil Changlee
