GUYANA – As more oil projects are being approved by the Guyana Government the issue of the interest rates being charged by the operator of the Stabroek Block, ExxonMobil Guyana Limited EMGL continue to concern Guyanese. However, Vice President and chief policymaker of the sector Bharrat Jagdeo has dismissed these concerns.

Previously, VP Jagdeo said Guyana was paying a rate to Exxon as this is a standard practice for a return to be generated on a company’s equity. “Regardless of whether you make the financing in the form of a loan or equity, you have to get a rate return. There is a cost of capital and that is how it is,” Jagdeo asserted. Despite multiple attempts by this newspaper to clear the air on this issue however, the government has refused to tell the nation how much interest was being charged on the companies’ investments. ExxonMobil and its partners, Hess and CNOOC each make annual equity contributions to support the Stabroek Block operations. Consequently, the companies each receive an interest on the financial investments. This rate of return, though justified by Jagdeo remains a mystery, although this country’s resources are being used to pay those companies. His most recent approach to questions on these matters is to tell a reporter  from this publication at his weekly press conference at Freedom House on Robb Street, that the capping of the interest rates is “an old question” he has “dealt with a million times” before.  The VP was asked by this publication is “Sir, When do you plan to join the rest of the oil producing world in capping Interest rates charged by the oil companies?”

He said, “I am not dealing with that. That was dealt with one million times before. That is an old question that has been dealt with a million times.” Despite his claim of dealing with the issue a million times, the interest rate seems to be kept under lock and key with strict security details as the public is yet to know the financial burden they are saddled with for years to come.  ExxonMobil is free to recover the interest, expenses and fees incurred on loans for the development of the resources in the Stabroek Block, without consent from the Minister responsible for Petroleum. (Kaieteur News)

Photo: Vice President, Dr. Bharrat Jagdeo…[+]

CHICAGO – Former President Donald Trump, during a question-and-answer panel at the National Association of Black Journalists (NABJ) conference in Chicago Wednesday, called a question about his history of making offensive comments about his Black opponents a “very nasty question” and a “rude introduction.”

Responding to a question from ABC’s Rachel Scott about why Black voters should trust him given his past racist comments about members of Congress and political rivals like Nikki Haley and Barack Obama, and his past flirtation with racist elements of his MAGA movement, Trump responded: “Well, first of all I don’t think I’ve ever been asked a question so, in such a horrible manner. The first question.”

“You don’t even say, ‘Hello, how are you?’ Are you with ABC? I think they’re a fake news network, a terrible network. And I think its disgraceful that I came here in good spirit. I love the Black population of this country. I have done so much for the Black population of this country,” he said. His comments come as the organization on Tuesday drew a torrent of criticism over its decision to invite Trump to sit for an interview, with some of its most prominent members publicly expressing dismay.

Trump, after listing policies he said helped Black Americans, called the question a “very rude introduction.” “I was invited here and I was told my opponent — whether it was [President Joe] Biden or it was [Vice President] Kamala [Harris] — I was told my opponent was going to be here. It turned out my opponent isn’t here. You invited me under false pretenses,” he said. NABJ said Wednesday it was working with Harris’ campaign to schedule a question-and-answer event between the group and the presumptive Democratic presidential candidate in September. The event could take place virtually or in-person, they said, an option Trump claimed was not given to him.

NABJ President Ken Lemon had previously said Harris’ “schedule could not accommodate” her speaking to the journalists virtually or in-person during their convention this week. Trump noted his appearance at the conference was 30 minutes late because of technical problems and said, “I think it’s a very nasty question.” Trump repeatedly criticized the organization for the event’s set up, which he said made it difficult to hear other panelists. A spokesperson for NABJ told CNN technology issues delayed the start of the event. Trump then called himself “the best president for the Black population since Abraham Lincoln,” a comment that drew audible groans from journalists in attendance.

“For you to start off a question-and-answer period, especially when you’re 35 minutes late because you couldn’t get your equipment to work. I think it’s a disgrace. I really do, I think it’s a disgrace,” he said. (CNN)…[+]

WEST BANK – Palestinians have gathered in different locations across the occupied West Bank, to protest against the assassination of Ismail Haniyeh, the political leader of Hamas. Haniyeh was killed in the Iranian capital, Tehran, early on Wednesday along with a bodyguard when the building in which he was staying was targeted. Hamas has accused Israel, which has yet to comment.

The assassination, which took place some 10 months into Israel’s war on Gaza, prompted shock and anger across Palestine. In the West Bank, demonstrations took place in Ramallah, Hebron, Bethlehem, Nablus, Jenin, Tulkarem, Tubas and Qalqilya. Protesters carried Palestinian flags and dozens of green Hamas flags and chanted, “The people want Qassam Brigades,” a reference to the group’s military wing.

“This [the assassination] will lead to a bit of confusion but our resistance will continue. More leaders will come to take responsibility because this cause is not only ours, it is the world’s,” a woman in Ramallah told Al Jazeera. “We have become accustomed throughout our lives to the assassinations of the leaders of our national factions, whether from Hamas or others like Fatah or the leftist movements,” a man said, adding that the fight for freedom will continue.

Mahmoud Abbas, the president of the Ramallah-based Palestinian Authority, condemned Haniyeh’s assassination, calling it a “dangerous development”.  Abbas called on the Palestinian people “to unite, be patient and steadfast in the face of the Israeli occupation”.

Open support in Ramallah for Hamas is rare. Ramallah is the administrative capital of the occupied West Bank and is governed by the Fatah-dominated Palestinian Authority – long at odds with Hamas. Israel began attacking Gaza, promising to eliminate Hamas and kill its leaders after the group launched an attack on October 7 in southern Israel, that led to the killing of some 1,139 people and more than 200 being taken captive. (Al Jazeera) …[+]

USA – Kamala Harris is bringing her newly-minted presidential campaign to Georgia, a state that some Democrats now consider up for grabs in the closely contested election.

The vice-president held a star-studded campaign rally in Atlanta on Tuesday, at which she challenged her Republican rival Donald Trump to meet her on the debate stage. Pop star Megan Thee Stallion and rapper/singer Quavo performed, while Democratic Senator Raphael Warnock also addressed the crowd of about 10,000 people.

The possibility of Democrats winning in the battleground state was a stretch one month ago, but some analysts now believe a new face on top of the ticket and a fresh burst of energy may change everything. Ms Harris replaced Mr Biden as the presumptive Democratic nominee, after the president announced he was withdrawing from the race.

“It has been a reset button in so many ways,” Amy Morton, the CEO of Georgia-based consulting firm Southern Majority, told the BBC. “It completely changed the landscape of Georgia. “Taking the stage in Atlanta to a raucous crowd on Tuesday evening, Ms Harris said the momentum in the race was shifting. She described her “people-powered” campaign as the underdog in the race, but pointed to how Mr Biden carried the state in 2020.

“I am very clear the path to the White House runs right through this state,” she said.  Ms Harris later turned to the subject of September’s presidential debate, which Mr Trump has not fully committed to yet. “Donald, I do hope you’ll reconsider to meet me on the debate stage, because as the saying goes, if you got something to say, say it to my face.”

Swing states like Georgia, which Mr Biden won by the narrowest margin in 2020, are fiercely contested because they can lean either to Republicans or Democrats and play a decisive role in presidential elections. It’s a state Republicans are looking to flip back red. Donald Trump will also be campaigning in Atlanta on Saturday – at the same venue as Ms Harris – to cement his support in the swing state. (BBC) 

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