CNN: Guyana is becoming a petro-state and an American company is the most benefited

Guyana’s fate changed in 2015. The American fossil fuel giant, Exxon, discovered almost 11,000 million barrels of oil in the deep waters of the coast of this small jungle country.

By CNN

It was one of the most spectacular oil discoveries of the last decades. For 2019, Exxon and its partners, the American oil company HESS and CNOOC, based in China, had begun to produce fossil fuel. Now, they pump around 650,000 barrels of oil per day, with plans more than double this figure at 1.3 million by 2027.

Guyana, who now expects sustained growth between Brazil, Venezuela and Suriname, has been acclaimed as a climate defender by lush and well preserved forests that cover almost 90% of their territory. This way of becoming a petro-state at the same time that the impacts of the climate crisis driven by fossil fuels increase.

Although the Government affirms that the protection of the environment and the oil industry can go hand in hand, and that low -income countries should be allowed to exploit their own resources, critics say it is a dangerous path in a world in warming, and that the benefits, ultimately, can be leaning for Exxon, not towards Guyana.

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