OGGN says Chevron’s Guyana oil profits rest on zero-out-of-pocket taxes and dangerously limited spill liability.
Guyana gave up US$14.3B in oil earnings through tax payments and a profit squeeze, Hunte and co-writers say.
OGGN says Chevron’s Guyana profits rest on zero-out-of-pocket taxes and capped spill liability that defy Berkshire’s stated ethics.
OGGN says Exxon and partners used “two-pocket accounting” under the 2016 PSA to cut Guyana’s profit share by US$9.1B.