We have obtained a copy of the contract between WY *Office of State Lands and Investments (OSLI) State Loan and Investment Board (SLIB) and Barclays Capital, Inc. The contract was signed on April 29, 2020 for Barclays’ consulting services for the Occidental land deal that the Governor and SLIB are pursuing in southwest Wyoming. *Update: We had our acronyms screwed up and so we sincerely apologize. It is OSLI (Office of State Lands and Investments) that signed the contract with Barclays Capital Inc. The State Loan and Investment Board (SLIB) is not mentioned the contract.
Contract pdf is embedded below and is downloadable. Even though it says “Confidential” it is now PUBLIC RECORD – share, share share!!
They have agreed to pay Barclays at least $2.5 million for consulting, no matter if the Occidental Petroleum land deal is completed or not. If the deal is ultimately pursued, the consulting costs could grow up to $10 million. To pay the first $500,000 of the contract, they are using the capital construction contingency fund (which has been a slush fund). The rest will have to be taken from other state agency budgets (called the B-11 process), such as the Department of Health.
So these funds will be used on consulting services by Barclays Capital on a land deal with Occidental Petroleum (that we know has major problems), rather than on the people of Wyoming.
This is absolutely outrageous. There have been ample times in the last eight months that Gordon has warned Wyoming that we need to make do with less:
- On Oct 15, 2019 Gordon spoke of the state having to trim spending in the budget
- On Oct 30, 2019 Gordon said the state will have to find a few new holes in its belt to tighten
- In Jan 2020 Gordon sent letters to legislative leaders emphasizing the need for fiscal restraint
- On Mar 23, 2020 Gordon said he anticipates some belt-tightening as a result of the outbreak
- On April 15, 2020 Gordon spoke on the impact of Covid19 saying “We’re going to emerge into a new reality, a new type of economy,”
- On May 1, 2020 Gordon said “Probably around May 20, we will see numbers that will make our eyes pop. I think it does mean we’ve got to re-examine our budget pretty substantially.”
- On June 4, 2020 Gordon instructed state agencies to prepare deeper budget reductions
- On June 5, 2020 Gordon ordered the closing of 37 rest areas across Wyoming
- On June 18, 2020 it was reported that Gordon ordered agency chiefs “to identify and explain programs to eliminate”, and that the cuts will “likely cost jobs” and could also include furloughs or pay reductions for state employees…
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