The unfortunate reality is that ExxonMobil is talking from a position of declining financial fortunes, while Guyana is talking from a position of plain misfortune. Guyana is in the weaker bargaining position to renegotiate with ExxonMobil.
As of Tuesday, August 25, ExxonMobil is no longer a member of the Dow Jones International Average, which is a system that highlights the performances of America's big companies.
Not that ExxonMobil is dead, but it is not what it used to be. In 2011, it was worth US$400 billion. Today, it's worth US$175 billion. Comparably, Apple Computers ? ? is a $2 trillion dollar ? company on the DJIA.
If ExxonMobil walks away, it won't be because Guyana is demanding a fairer share; it will be because of its own precarious situation. That would then leave China and others in the conglomerate to negotiate any new deal with Guyana.
But can Guyana ?? afford a new oil deal with China ?? as the lead partner? China replacing ExxonMobil could be disastrous for Guyana, so let's keep our fingers cross.