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Behind the Money
Will Exxon make or break Guyana?
Jun 26, 2024
Exxon Mobil's massive oil discovery in Guyana is transforming the country, raising concerns about wealth distribution and corruption. Tensions with Venezuela over oil fields are escalating, while local entrepreneurship in the oil industry is on the rise. The podcast explores the potential benefits and challenges of Guyana's oil boom.
22:13
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Quick takeaways
- Exxon Mobil's oil discovery in Guyana could significantly boost the country's economy but raises concerns about wealth distribution.
- Guyana must prioritize transparent governance and responsible investment to mitigate risks associated with overreliance on oil.
Deep dives
Guyana's Booming Development and Exxon's Role
Guyana's capital, Georgetown, is experiencing rapid development with several luxury hotels and American-style malls under construction, a stark change in a country historically struggling with poverty. ExxonMobil's discovery of a massive oil reservoir off Guyana's coast in 2015 promises significant economic transformation, potentially making Guyana the fourth-largest offshore oil developer in the world.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode