The Real Story Bonus: The curse of the world's fastest growing economy
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Mar 26, 2024 Exploring Guyana's economic boom from oil discovery, environmental risks, and wealth distribution concerns. Discusses territorial dispute with Venezuela, impacts on environment, and balancing oil exploration with climate change. Contrasts management of oil reserves in Norway, Nigeria, and Guyana, highlighting the importance of best practices in resource management.
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Scale Of Guyana's Oil Bonanza
- Guyana's offshore finds amount to roughly 11 billion barrels of oil-equivalent and could yield about $150 billion to the state.
- That scale transforms a country of 800,000 people into a potential major petro-state with profound economic implications.
Local Startup Claims A Stake
- Stephen met Ayodele Del Gettie Dean, founder of an all-female Guyanese oil startup called Sispro which won exploration concessions.
- The company argues Guyanese ownership can shift benefits from foreign majors to local people and businesses.
Oil Reignites Border Threats
- The oil discovery has reawakened a long-standing territorial dispute with Venezuela over the Esquibo region.
- Maduro's rhetoric and troop movements have raised real security concerns for a small Guyana facing a much larger neighbour.