Shocked Serious Money
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Nov 3, 2025 Discover how oil transformed Guyana from poverty to rapid economic growth almost overnight. The discussion reveals the tension between newfound wealth and rising inequality, exploring the impacts on infrastructure and local lives. Hear personal stories about living pre-oil, as well as the challenges of adapting to rapid change. The debate intensifies over the balance of environmental concerns against immediate benefits, questioning who truly reaps the rewards and the broader implications for developing nations.
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Oil Payments Far Outstrip Development Aid
- Guyana received $1.8 billion from the World Bank since 1969, mostly loans requiring repayment.
- Exxon paid Guyana $6.3 billion between 2019–2024, cash the country controls without repayment obligations.
Politician’s Memory Of Pre‑Oil Guyana
- David Patterson recalled Guyana before oil as semi-rural with frequent outages and limited cars.
- He described the 2015 discovery as initially dismissed until the new administration confirmed Exxon’s major find.
Mixed Local Experiences After Oil Arrival
- Local Guyanese described visible benefits like roads, bridges, hospitals, and scholarships.
- Many also reported higher prices, limited direct jobs, and safety concerns from heavier traffic.