After years of impoverishment, Guyana is suddenly on the verge of prosperity. Since 2015, a consortium led by Exxon Mobil has developed at least 10 deepwater oil wells off Guyana’s shores, with a combined productive capacity of around 750,000 barrels per day. Exploration is ongoing, with most experts anticipating the country’s oil reserves exceed the current estimate of 5 billion barrels. One way to grasp the magnitude of these discoveries is that in 10 years, Guyana, with a population of slightly less than 800,000, could pump nearly a barrel of oil per person each day—more production on a per capita […]
Guyana’s Pending Oil Boom—or Bust
