Billions beneath the sea: How Guyana became America’s oil fortress in South America
Produced by: Manoj Kumar
Oil Awakening
ExxonMobil’s 2015 discovery unlocked 11 billion barrels offshore Guyana, transforming it into the fastest-growing oil producer on Earth.
Crude Surge
With 650,000 barrels/day flowing, Exxon’s output is set to double by 2027—positioning Guyana as the world’s oil growth leader by 2035.
Washington’s Wedge
As Venezuela falters, Guyana gives the U.S. a stable oil foothold in South America. Exxon’s success quietly secures American energy dominance in the region.
Unshakable Contract
A 2016 deal allows Exxon to recoup 75% of costs before profit-sharing. Guyana gets just a 2% royalty—a lopsided agreement that stirs controversy.
Legal Firestorm
Lawyer Melinda Janki’s court battle led to Exxon being held liable for unlimited oil spill damages—a landmark ruling now under appeal.
Rising Inequality
Despite 40% GDP growth, locals feel the squeeze. Inflation soars, and the oil wealth stays concentrated. “The money’s not trickling down,” says activist Wintress White.
Strategic Buffer
Guyana’s geographic location—wedged between Venezuela and Brazil—makes it a geopolitical prize, pulling Washington deeper into South American energy politics.
Climate Contradiction
Though 90% forested, Guyana pushes oil as compatible with green goals. President Ali walks a tightrope between carbon sink status and fossil fuel future.
Territorial Tension
Venezuela’s claim on the Essequibo region, where key reserves lie, has escalated friction. U.S. backing Guyana signals rising energy-driven diplomacy.