Guyana’s Oil Wealth Comes With Some Strings Attached

An oil well pump operates in Boca de Jaruco, Cuba, July 11, 2014 (AP photo by Desmond Boylan).
An oil well pump operates in Boca de Jaruco, Cuba, July 11, 2014 (AP photo by Desmond Boylan).
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If the global scramble to replace Russia’s oil in the wake of its Ukraine invasion had occurred a few years from now, instead of today, diplomats would be turning not only to Saudi Arabia, Iran and Venezuela for potential new sources of oil, but also to another, perhaps unexpected country: Guyana, a minuscule South American nation that is now in the process of becoming a petroleum powerhouse. In the history of the world, few moments­ like this—in which an impoverished country suddenly discovers that it possesses untold wealth—have ever occurred. And yet, that’s what happened in Guyana in 2017, when ExxonMobil […]

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