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Exxon’s $100 million STEM donation called a PR stunt by Guyanese officials who say it ignores systemic inequities and tax loopholes.
Guyanese officials and experts dismiss Exxon’s $100 million STEM pledge as a symbolic gesture that fails to address systemic economic inequities, noting the donation represents less than 1% of Exxon’s projected $110 billion profits from Guyana’s oil.
Critics highlight that the government pays all of Exxon’s taxes upfront—$1.24 billion in 2024—then issues receipts the company uses to claim foreign tax credits, effectively shifting the financial burden to the public.
They argue the gift is a public relations tactic that distracts from the need to renegotiate the oil contract, implement ringfencing to boost Guyana’s revenue share, and ensure fair wages, local hiring, and environmental compliance.
La donación de 100 millones de dólares de Exxon para STEM fue llamada un truco de relaciones públicas por funcionarios guyaneses que dicen que ignora las inequidades sistémicas y las lagunas fiscales.