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Critics say this power imbalance is clear in the 2016 contract Guyana signed with Exxon. Under the agreement, Exxon keeps 75% of everything it makes from its oil operations in Guyana, with the remaining 25% shared equally between the company and the government, which also takes a 2% royalty. lido “It was a bad deal,” Ali said in the BBC interview, but he has rejected the idea of unilaterally changing the agreement, which was signed by the previous government. He says the next contract with Exxon will be on different terms. An Exxon spokesperson said the contract is “globally competitive for countries at a similar stage of exploration” and said Guyana is averaging $1 billion a year in “oil profits.” Exxon has also faced a number of lawsuits over its potential environmental impact, many filed by Melinda Janki, a Guyanese international lawyer, who drafted the country’s Environmental Protection Act back in the 1990s. A big victory for Guyana’s people and environment came in 2023, when the court ruled Exxon should have unlimited liability for the costs of any oil spill. Exxon has since appealed the ruling and has posted a $2 billion guarantee while it awaits the appeal outcome. Exxon said this commitment supplements “its robust balance sheets … and the insurance policies they already had in place.” Janki says this isn’t enough. Offshore oil spills can be extremely expensive to deal with, the 2010 Deepwater Horizon spill cost nearly $70 billion to clean up. The push and pull between those who say oil offers Guyana a brighter future and those who fear the industry’s impact will continue. Exxon said it’s had a positive impact on the country, including employing more than 6,200 people, investing more than $2 billion with local Guyanese businesses since 2015 and spending more than $43 million on community projects.

A federal judge on Tuesday afternoon temporarily blocked part of the Trump administration’s plans to freeze all federal aid, a policy that unleashed confusion and worry from charities and educators even as the White House said it was not as sweeping an order as it appeared. https kra17 cc The short-term pause issued by US District Judge Loren L. AliKhan prevents the administration from carrying through with its plans to freeze funding for “open awards” already granted by the federal government through at least 5 p.m. ET Monday, February 3. kra27 cc The judge’s administrative stay is “a way of preserving the status quo” while she considers the challenge brought by a group of non-profits to the White House plans, AliKhan said. http kra17 at “The government doesn’t know the full scope of the programs that are going to be subject to the pause,” AliKhan said after pressing an attorney for the Justice Department on what programs the freeze would apply to. AliKhan is expected to consider a longer-term pause on the policy early next week. kra29 at The White House budget office had ordered the pause on federal grants and loans, according to an internal memorandum sent Monday. Federal agencies “must temporarily pause all activities related to obligation or disbursement of all Federal financial assistance,” White House Office of Management and Budget acting director Matthew Vaeth said in the memorandum, a copy of which was obtained by CNN, citing administration priorities listed in past executive orders. kra30 at https://kpa27.at

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