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ExxonMobil is talking from a position of declining financial fortunes

The unfortunate reality is that ExxonMobil is talking from a position of declining financial fortunes, while Guyana is talking from a position of plain misfortune. Guyana is in the weaker bargaining position to renegotiate with ExxonMobil.

As of Tuesday, August 25, ExxonMobil is no longer a member of the Dow Jones International Average, which is a system that highlights the performances of America's big companies.

Not that ExxonMobil is dead, but it is not what it used to be. In 2011, it was worth US$400 billion. Today, it's worth US$175 billion. Comparably, Apple Computers 🍎 🖥 is a $2 trillion dollar 💵 company on the DJIA.

If ExxonMobil walks away, it won't be because Guyana is demanding a fairer share; it will be because of its own precarious situation. That would then leave China and others in the conglomerate to negotiate any new deal with Guyana.

But can Guyana 🇬🇾 afford a new oil deal with China 🇨🇳 as the lead partner? China replacing ExxonMobil could be disastrous for Guyana, so let's keep our fingers cross.

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Guyana Diaspora Online Forum

We have a large database of Guyanese worldwide.  Most of our readers are in the USA, Canada, and the UK.  Our Blog and Newsletter  would not only carry  articles and videos on Guyana, but also other articles on a wide range of subjects that may be of interest to our readers in over 200 countries, many of them non-Guyanese  We hope that you like our selections.

It is estimated that over one million Guyanese, when counting their dependents, live outside of Guyana.  This exceeds the population of Guyana, which is now about 750,000.  Many left early in the 50’s and 60’s while others went with the next wave in the 70’s and 80’s.  The latest wave left over the last 20 years. This outflow of Guyanese, therefore, covers some three generations. This outflow still continues today, where over 80 % of U.G. graduates now leave after graduating.  We hope this changes, and soon.

Guyanese, like most others, try to keep their culture and pass it on to their children and grandchildren.  The problem has been that many Guyanese have not looked back, or if they did it was only fleetingly.  This means that the younger generations and those who left at an early age know very little about Guyana since many have not visited the country.  Also, if they do get information about Guyana, it is usually negative and thus the cycle of non-interest is cultivated.

This Guyana Diaspora Online Forum , along with its monthly newsletter, aims at bringing Guyanese together to support positive news, increase travel and tourism in Guyana and, in general, foster the birth of a new Guyana, which has already begun notwithstanding the negative news that grabs the headlines.  As the editor and manager of the publication, I am committed to delivering Blog entries and Newsletters that are politically balanced, and focused on the positive ideas we wish to share and foster among Guyanese.

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