Up Front
Oil Companies see brighterfuture
Alan Neesome (left), Esso StandardOil Country Manager and James Tibbetts, Texaco Country Manager.
Some have called the battle between theoil companies and Trade & Business License Board 'the Battleof the Titans' with the little guys, namely the consumers, inthe middle squashed in the process.
However, the two battleships no longer appearto be heading toward a collision course that seemed likely earlierthis year when a there was a run on the stations for petrol. Nowit seemed as if there is a soft glow of light at the end of thetunnel for both the oil companies and the public.
Mr. David Ritch, the current chairman ofthe T&BLB had this to say, "We are going to give bothoil companies [Texaco & Esso] a full and fair hearing as itis in the best interest to the public that this matter be quicklyresolved."
He went on to add that their existing LocalCompany Control Law License has been extended until June 2001for the good ordinance of the public interest.
Mr. Alan Neesome, Country Manager for EssoStandard Oil in Cayman, "I am very happy that we have avoideda crisis like we had at the beginning of this year."
He went on to explain further, "Wehad been dealing with the previous TBLB for 17 months December'98 - April 2000 with no positive results. We recognised thatthe TBLB has gone through some personnel changes and we are willingto work with the new TBLB in helping them reach a timely decision.
"We are hopeful that our request fora 12-year license will be approved before June 2001, when ourcurrent license expires. Every month that passes means anothermonth that we cannot invest in Cayman. All our dealers are independentCaymanian businesses people and their business are being adverselyaffected by the lack of investment which is stifling growth andimprovement in service to the public."
Mr. James Tibbetts, Country Manager of TexacoCaribbean in the Cayman Islands had this to say about the extension,"I am confident that the new board will act quickly. At thisstage in the game we are happy to let the Board do their deliberations."
Mr. Tibbett's reiterated those same statements,adding that this year Texaco was budgeted to spent over US$4.3million, but because of the uncertainty they were only able tolay out just under US$1 million.
"Texaco has enjoyed a good relationshipwith our dealers and the community for over 60 years. We are nothere to take business away from the Cayman Islands, but ratherwe help young business people to gain business opportunities."
However, Mr. Tibbetts was quick to pointout that Texaco did not cut their community programmes this year.In fact, he said that it was banner year for Texaco's altruismin the community which can be seen in their many community programmes,including Junior Achievement, the Steel Band and the many sportingevents and teams."
Mr. Neesome explained the benefits of beinggranted a 12-year license, "Àsso has been in GrandCayman for 70 years pre-dating the current licensing system. Weare good corporate citizens serving the country while contributingto the proud international image that Grand Cayman enjoys throughinvestment, technology and job creation."
"The oil companies need a long termlicense in order to continue with their investment programme thatultimately benefits the people of Grand Cayman, since it representsinvestments in retail outlets to better serve our customers andin infrastructure to continue to operate flawlessly. We cannotjustify long-term investments unless our operating license isequally long-term," he added.