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In 2015, ExxonMobil drilled a well 120 miles off the coast of Guyana — a tiny South American nation most people couldn't find on a map. What they found beneath the ocean floor would change everything. Eleven billion barrels of recoverable oil. One of the largest offshore discoveries in a generation. Within years, Guyana went from one of the Western Hemisphere's poorest countries to posting the highest GDP growth rate on the planet — 62% in a single year. But behind the staggering numbers lies a far more complex story. A production sharing agreement that critics say could deprive Guyana of $55 billion. A sovereign wealth fund being drained almost as fast as it fills. A Venezuelan dictator who held a referendum to annex two-thirds of the country. And the looming question that haunts every nation that strikes oil — does the wealth save you, or swallow you whole?
This is the full story of how Exxon's gamble turned Guyana into the world's fastest-growing economy, and the fight over who actually benefits from the boom.
#guyana #exxonmobil #oilboom #fastestgrowingeconomy #stabroekblock #oildiscovery #resourcecurse #venezuela #essequibo #gdp #economics #geopolitics #southamerica #crudeoil #sovereignwealthfund #dutchdisease #naturalresources #oilandgas #economicgrowth #globalfinance #petroleum #documentary #deepwaterdrilling #wealthinequality #macroeconomics
A xenophobic movement that targets fellow Africans, claiming to fight for Black South Africans now finds common ground with 'AfriForum' - an organisation rooted in the defence of the unjust white-settler colonial power and apartheid-era privilege.
The Spearhead’s Sannario examines how this alliance exposes the complete lack of any fundamental ideological basis beneath March and March!
#marchandmarch #afriforum #southafrica #xenophobia #colonialism
