Oil boom transforms Guyana, prompting a scramble for spoils
Source: Associated Press
Oil boom transforms Guyana, prompting a scramble for spoils
By DÁNICA COTO
May 5, 2022
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The list of needs is long in this South American country of 791,000 people that is poised to become the world’s fourth-largest offshore oil producer, placing it ahead of Qatar, the United States, Mexico and Norway. The oil boom will generate billions of dollars for this largely impoverished nation. It’s also certain to spark bitter fights over how the wealth should be spent in a place where politics is sharply divided along ethnic lines: 29% of the population is of African descent and 40% of East Indian descent, from indentured servants brought to Guyana after slavery was abolished.
Change is already visible in this country, which has a rich Caribbean culture and was once known as the “Venice of the West Indies.” Guyana is crisscrossed by canals and dotted with villages called “Now or Never” and “Free and Easy” that now co-exist with gated communities with names like “Windsor Estates.” In the capital, Georgetown, buildings made of glass, steel and concrete rise above colonial-era wooden structures, with shuttered sash windows, that are slowly decaying. Farmers are planting broccoli and other new crops, restaurants offer better cuts of meat, and the government has hired a European company to produce local sausages as foreign workers transform Guyana’s consumption profile.
With $1.6 billion in oil revenue so far, the government has launched infrastructure projects including the construction of 12 hospitals, seven hotels, scores of schools, two main highways, its first deep-water port and a $1.9 billion gas-to-energy project that Vice President Bharrat Jagdeo told The Associated Press will double Guyana’s energy output and slash high power bills by half.
And while the projects have created jobs, it’s rare for Guyanese to work directly in the oil industry. The work to dig deep into the ocean floor is highly technical, and the country doesn’t offer such training.
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Read more: https://apnews.com/article/guyana-oil-discovery-money-14c23a72c6d7c13675493ede42ed1000
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