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Announcing fair-trade oil share Ghana petition campaign!

Fri, 19 Feb 2016 Source: Lungu, Prof.

The FTOS-Gh/PSA Petition/Campaign is a voluntary, non-partisan, public service initiative. The petition seeks to ensure that Ghana receives a fairer (Fair-Trade) share of its oil revenues that is a whole lot better than 17%. The petition to His Excellency President John D. Mahama and the Honorable Edward K. D. Adjaho, Speaker of the House of Parliament, seeks to avoid loss of another $6 billion and certainly more, over the next five years, as oil output increases and new oil and gas fields come on board.

We are confident that you will assist the FTOS-Gh/PSA campaign to achieve its final milestone in the name of your beloved Ghana. Success is when Mr. Mahama and his administration adopt a Ghana-centered Production Sharing Agreement (PSA) for Ghana's oil and gas that on balance provides a fair share of return to the oil companies consistent with standard practices in the oil and gas business.

At the FTOS-Gh/PSA Petition/Campaign 100-signatory milestone, we now have an initial list of professionals and experts ready to review and assess the PSA pro bono, if/when the administration should so request. In the mean time, we ask that you inform your friends, colleagues, and family members about the FTOS-Gh/PSA Petition/Campaign, and ask them to join the petition by signing the petition.

Please tell your friends, colleagues, and family members that in 5 years (2010-2015) of oil production under the so-called Ghana Hybrid System, Ghana received just 17% of oil revenues while the UK and USA oil companies (Tullow, Kosmos, etc.) kept 83%:

• Tell them the 17% Ghana received represented 27.2 million barrels of oil, a paltry $3.6 billion Instead, Ghana should have received 100 million barrels, or $8.6 billion in cash, under a Fair-Trade Oil Share Production Sharing Agreement

• Tell them other countries with PSAs, the standard global contract for crude oil, are receiving better than 55% of oil revenues for their peoples that still allow oil companies fair, economic returns on their investments

• Tell them it is the PSA that is recommended by the GAO (US government)

• Tell them that the Hybrid System continues to allow government ministers and lawyers to allot numerous crude oil contracts with no transparency, no public debate; through "under-the-table kickbacks", thereby enabling and promoting corruption in government

• Tell them the Government of Ghana should without further delay adopt the PSA for Ghana's oil and gas, for a more better Ghana, for everyone.

Thank you for signing the FTOS-Gh/PSA petition, and for taking time to ask your friends, family members, and colleagues to also sign the petition for more oil revenues for your beloved Ghana.

Sign the FTOS-GH/PSA petition at:

https://www.change.org/p/ghana-fair-trade-oil-share-psa-campaign-ftos-gh-psa

ADDITIONAL INFORMATION

Visit: http:www.ghanahero.com/FTOS_GH_Campaign.

Tweet: #FTOS_Gh @ https://twitter.com/hashtag/FTOS_Gh?src=hash

FTOS-Gh/PSA Petition Campaign Representative: Mr. S. Kwawukume (Phone +233-574-34-5193)

SUBJ: Announcing Fair-Trade Oil Share Ghana (FTOS-Gh/PSA) Petition Campaign-16Feb16-v3

Email : professor.lungu@yahoo.com).

Columnist: Lungu, Prof.