What role do transnational corporations play in the Essequibo conflict?

What role do transnational corporations play in the Essequibo conflict?

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What role do transnational corporations play in the Essequibo conflict?

The Essequibo (in Spanish, Esequibo), is an undeveloped, sparsely populated but resource-rich jungle territory region, nearly sixty percent of modern Guyana, consisting of all its territory west of the Essequibo River (see map). Venezuela’s deeply rooted belief is that the Essequibo region was unjustly taken from them by meddling foreign powers. It is a matter of national integrity, made more alluring by the possible wealth of natural resources there. Guyana’s position is that they are trying to defend the land that has been part of their country for almost 200 years, land they need to help develop their country economically. The territorial dispute, dating back to the 1830s, has heated up in recent months, after Exxon Mobil, working for the Guyanese government, announced in May 2015 that it had discoverd a large reserve of oil in ocean waters off the disputed territory.

To understand the harassment of transnational corporations on the Guyana issue is to understand the heart of the problem,”It is not only about a geostrategic and territorial political diatribe between two nations, but also transnational economic interests that were initially managed by colonialist states whose predominance has escaped from England, for example, to go to private companies that also represent colonialist interests ».

In this sense, the US oil company ExxonMobil announced the discovery of an oil field just in the area of territorial litigation. The company’s director, Rex Tyllerson, was Secretary of State and predecessor to Mike Pompeo. Part of its functions was to finalize the dispossession of Venezuela.The 70% increase in profits in 2017 of the ExxonMobil company came from the Essequibo.

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Such exploitation of the resources of the Essequibo is illegal because, according to the 1966 Geneva Agreement, any granting of concessions to foreign companies for the exploitation of resources is prohibited.

US war campaign was largely financed with the resources stolen from the Essequibo as it has turned out to be “the goose that lays golden eggs.”