How Guyana’s Oil Boom Sparked A Border Dispute With Venezuela
Guyana, a tiny South American nation home to more than 800,000 people, made big headlines in December. The reason? Its neighboring country, Venezuela.
Venezuela’s autocratic leader Nicolás Maduro called for a referendum in the first week of December 2023 to seek approval to annex Essequibo, which makes up two-thirds of Guyana’s land. Venezuelans approved it despite the dispute already being resolved by an international tribunal in 1899.
“What has happened is that it’s been exacerbated by the discovery of oil (in Guyana),” said Dr. Terrence Blackman, founder and CEO at Guyana Business Journal. “This discovery has made it seem more attractive to Venezuela to pursue this course of action.”
The 2015 oil discovery made Guyana the world’s fastest-growing economy, recording the world’s highest real GDP growth rate in 2022 and 2023. The story is different across Guyana’s border. Venezuela has the world’s largest oil reserves, but that hasn’t stopped its economy from collapsing since Maduro took power in 2013.
“Venezuela doesn’t truly have sources of support in its ambitions to take over that territory of Guyana, whereas Guyana, it seems, has international public law on its side, as well as the alliance with the United States,” said Valerie Marcel, director at New Producers Group. “So I think that at this stage, the fears that Guyana felt in the past are much less. It feels more confident against its big neighbor.”
Guyana’s sudden economic progress has also been on the watch list for oil experts. While Guyana’s remarkable GDP growth appears impressive on paper, critics highlight that the country’s weak democratic institutions and deeply divided politics along ethnic lines could cause the only English-speaking country in South America to suffer from the so-called resource curse.
“Guyana is at a crossroads in its history,” said Gregory Brew, energy analyst at Eurasia Group. “It is about to become one of the most exciting and important oil-producing countries in the world.”
Watch the video above to dive deep into Guyana’s oil economy, its ongoing escalation with Venezuela, what the country’s oil means for the U.S. and more.
Chapters:
0:00 Introduction
1:58 Chapter 1 – Guyana’s oil boom
4:00 Chapter 2 -The Challenge from Venezuela
8:10 Chapter 3 – ExxonMobil and Guyana
10: 58: Chapter 4 – The resource curse
13: 14: Chapter 5 – What’s next?
Produced and edited by: Anuz Thapa
Shot by: Guy Hernandez, Oscar Molina, Junghun Park, Alex Arjoon, Alex Herrera & Marco Mastrorilli
Narration by: Jordan Smith
Animation: Jason Reginato
Supervising Producer: Jeff Morganteen
Additional Footage: Getty Images, Reuters
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How Guyana’s Oil Boom Sparked A Border Dispute With Venezuela
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A bit biased report but thanks for the summary anyways
Suriname has also a dispute with the border with Guyana
If the Venezuelan government of Nicolás Maduro decides tomorrow to annex the Essequibo area following a military action following a referendum, the Guyanese will be faced with a taste of their own medicine. The Venezuelans have been claiming the Essequibo area for decades, because they assume that during the colonial administration of the British – in what is now called Guyana – the aforementioned area was confiscated by the German Robert Hermann Schomburgk by drawing up false maps. . Venezuela was certainly no match for the British militarily at that period, so the area was added to Guyana. It must be clear that the British also wanted a so-called foothold on the mainland of South America. On our side too, the British have done everything they can to steal territory from the other colonizers in the North Sea. The fact that part of present-day Guyana also belonged to the colony of Suriname can still be deduced from the Dutch names in certain places. But it was the same Robert Hermann Schomburgk who ascended the Corentijn and also after this journey drew up a false map for the British, in which he indicated that the Coeroeni Cutari was the upper course of the Corantijn River. He had not seen the truly much larger stream of water that we call the Upper Corantijn. Later, upon further investigation by the British Barrington Brown, the Upper Corantijn – which he called the New River – turned out to be the real upper course, creating the so-called Tigri Delta, located between Coeroeni, Cutari, Upper Corantijn and the Acarai Mountains, without there was no doubt that it should be regarded as Surinamese territory. However, the British wanted nothing to do with Barrington Brown's findings. In 1969, before our political independence, President Forbes Burnham of Guyana, which became independent in 1966, decided to occupy the Tigri Delta by means of military force. As is known, the Netherlands, which still had to defend Suriname as a part of the empire, did not intervene. Due to this annexation and the violent actions of Guyana, Suriname still has a border dispute with that country, just like Venezuela has with the Guyanese over the Essequibo area. The Guyanese government is now screaming bloody murder and is seeking support all over the world against a possible Venezuelan attack to take over the area militarily, but Suriname should absolutely not side with Guyana when it comes to the Essequibo issue. Guyana has occupied part of our territory since 1969, and does everything if the area belongs to it. We may be part of the English-speaking club CARICOM, which immediately supported Guyana, but we have been robbed by the Guyanese for more than 54 years. They have taken our territory hostage with military force and we should not accept that for a moment and certainly should not side with them when it concerns the Essequibo issue between Venezuela and the Guyanese. The fact that the Venezuelans now want to take back the area, if necessary with the use of the much stronger Venezuelan army, of course has everything to do with the large oil and natural gas reserves that have been discovered off the coast of the aforementioned area. This border dispute could have enormous consequences for security in our area, which can be described as the Guyanas. An area that runs from the Orinoco to the Oyapock. It is understandable that Venezuela may wish to use military resources. Isn't that what the Guyanese did to us in 1969, when The Hague did everything it could to get the police unit out of the Tigri area and was under former officer Lapre. The Netherlands did not want to have trouble with NATO partner Great Britain, that was clear at the time. But we now live in the 21st century and must not forget that we have a Ukraine and a Gaza, where major powers commit actions that can cause changes within geopolitics, including on our continent, when business and major financial interests come into play. This is about oil, that's what it was about in Iraq too. We can always talk about green energy and electric cars, but oil is still of great and survival importance for most economies and that is why the Venezuelan-Guyanese border conflict can still cause a lot of trouble for all of us. And especially if world powers get involved. Is oil a blessing or a curse? Unfortunately, this will also be expressed or expressed in this region.
Surinamese Newspaper / Source: De West, d.d., 19-11-2023
2015 Maduro never won any election ( fairly) and now sits in a Brooklyn Jail—–😂OIL BOOM GUYANA
lol not the only English speaking country in Central America… Belize is English speaking
American politics are going to still ypur resources
Maduro where are you you imbecile 😂😂😂😂😂.
It is not " Resource Curse", it is all intervention by the USA and it's western allies to steal the resources of developing countries. History had shown that every resource-rich country of the Global South is a target of the USA and it's western allies through their mineral companies, and oil and gas corporations. The term Resource Curse was intentionally couned and applied to academic researh by state paid Think Tanks as a pretext to cover up the exploitation of the Global South countries endowed with natural resources.
Schenectady New York gives Guyanese people free houses and don't change them county or city taxes for 7 years
This giveaway is only for Guyanese people not Americans.
Ex mayor al jerzinski is responsible for the giveaway of 70% of Schenectady land to people who send all their money back to Guyana
You see karma, Maduro tried to bully Guyana. Then an even bigger bully has kidnapped Maduro.
FUNNY HOW LEFTISTS NEVER TALKED ABOUT MADUROS THREATS TO GUYANNA
resource curse…so I'm sure the USA will decide they'll need a "White Guardian" (iykyk, after slavery, the term was given to white people who took guardianship over black kids that got land.)
Yet Guyana dollar remains 200:1 usd . The economics makes no sense. Can someone please explain.
Venezuela can’t get the oil they already have. Now they want to steal from another smaller weaker and poorer country.
when any two countries fight ..the third country benefits..this case USA.
Britain stole the land from Venezuela, imported almost a million Indians and voila a new country 😂
Me belt ready for lash one Venezuela.
why guyana still poor despite oil boom?
Guyana, do not trust Venezuela. It belongs to you. The big guys always want to take away from the small guys.
And this is the real cause of USA aggression against Venezuela.. to keep them away from Guyana.
El enemigo de mi enemigo es mi amigo😘😘😘
MADURO M🐒🚍 beware ready to create pollution🐒⚰ havoc⚰🐒 murder the Guyanese⚰🚍⚡🐒 destroy the rain forest danger the bus driver is a total maniac / believing that he is a king and most destroy everything around his reign, "better get him out before is too late 🤔🔥🌊⚡
So why ! And why !
the present government is too corrupt, they already enriching themselves with the oil money
Gaya dean People? Who?
Los Esequibano que viven en el estado Esequibo son venezolanos y los guyanese que viven en guyana son guyanese
I’m Guyanese, it’s not a fair trade, it needs to be renegotiated, so Guyana is the beneficiary of their product with is the Oil. Exxon and America is benefiting more. Look it up
Please note Guyana standard didn't sky rock it is all lies. Exxon Mobil & the Guyana Government along with Trump & his rich buddy friends are milking Guyana of its wealth. The poor people in Guyana are struggling even more since we found oil. Our government is stealing the little money our country received. Please note Exxon don't pay now taxes & Exxon is very dishonest.
FAKE NEWSBS😮
3/30/2025 – HOW DO WE SEE THE AXIS THREAT PLAYING OUT IN THE WESTERN HEMISPHERE? THE AXIS HAS CAPTURED THE LARGEST OIL RESERVE ON THE PLANET-VENEZUELA! BEWARE OF THE AXIS "PLAYBOOK" OF "STATE CAPTURE"! The AXIS(Russia, China, Iran, and North Korea) its allies (Venezuela, Cuba, and Nicaragua) and its proxies( including criminal gangs and drug cartels) can now be used to inflict huge economic costs in the Western Hemisphere through acts of terrorism; an expansion of the drug trade which serves the dual purpose of generating revenue for the autocrats while killing Americans; the use of criminal gangs as proxies within democracies; the manipulation and intervention of elections in democratic countries by using propaganda, disinformation and misinformation through social media to polarize the electorate and to enlist allied politicians and political parties; the Axis and its allies engage in hybrid warfare, ransomware, and cyberwarfare to steal technology, damage infrastructure, steal state secrets, engage in identity theft, and steal money from individuals, companies and local, state and the federal government! The AXIS supported militaries in Cuba, Venezuela, and Nicaragua are using the "Play Book" of "State Capture" in neighboring countries to replace democracies with Axis allied corrupt governments. When the "Play Book" of "State Capture" fails, Invasion and war are the next step. Today we see the very real threat that Venezuela with the backing of its AXIS allies will invade their neighbor- oil rich Guyana.
We should also expect continued pressure on the US border by suffering refugees fleeing dictatorships in Venezuela, Nicaragua and Cuba.
THE BEST WAY TO END THE IMMIGRATION CRISIS:
The best way to end the border crisis would be to give these refugees a country they love with democracy, freedom and prosperity to which they can return and from which they do not want to leave !! The suffering and oppressed people living under totalitarianism in Cuba, Venezuela, and Nicaragua deserve to live in a country with democracy, freedom, the rule of law, and prosperity. The global democracies need to support these people as they struggle to throw off the shackles of tyranny against the AXIS supported military and the security apparatus supporting these corrupt dictatorships.
In Venezuela Hugo Chavez began the “Play Book” of “State Capture” after his election in 1998, and today the dictatorship continues under Nicolas Maduro since April 14, 2013. Venezuela has the largest oil reserve on planet earth – enough oil to easily fuel a huge army, navy and air force once the AXIS allies help them with refining capacity. Until recently Chevron was pumping 600,000 barrels of oil a day of Venezuelan oil. Next western oil companies will be replaced by the AXIS controlled oil companies from Russia and Iran. At a time when European democracies are being starved for energy by the war in Ukraine, the "State Capture" of Venezuela with the largest oil reserves on the planet, its 28 million people, and an AXIS supported military was a tremendous victory for the AXIS economically, politically, and militarily. We must remember that THE AXIS HAS WEAPONIZED FUEL AND FOOD as we see in the energy crisis in Europe or the withholding of food needed in Africa or Asia.
GUYANA IS BEING THREATENED BY VENEZUELA AND IT AXIS ALLIES
After the 2024 stolen election, Venezuela with the largest oil reserve on planet earth (population 28 million in 2019, but 7.7 million have fled the country's poverty and repression)will be free to attack its neighbor Guyana (population 743,700 in 2019) in order to capture a huge oil deposit (11 billion gallons of Sweet Crude oil and natural gas) discovered by Exxon. Remember, if the "Play Book" and "State Capture" strategy does not overthrow the government in Guyana, we should expect Guyana to be invaded by Venezuela with the full support of its AXIS allies. With regard to Guyana, Venezuela has followed the strategy used by Russia in Ukraine by annexing the sovereign territory of its neighbor Guyana through sham popular votes and congressional acts. Venezuela is already negotiating with AXIS oil producing companies in Russia and Iran to extract Guyana's offshore oil fields to replace Exxon, Chevron or Hess. Venezuelan maps for its school children now include two -thirds of Guyana. Just like Russia and China, Venezuela refuses to recognize the authority of the International Court of Justice to settle border disputes without war. Once Ukraine is defeated, the AXIS can focus on its next target: Guyana. If the "Play Book" of "State Capture" fails, Venezuela will attempt a military takeover of Guyana with the full backing of its AXIS allies. Remember, the "Play Book" of "State Capture" is infinitely cheaper than invasion and war.
Venezuela’s dictator Maduro is using the same “Play Book” for “State Capture” (in his own country) that has been used in Russia, Belarus, Georgia, Moldova, Syria, Cuba, Nicaragua, and numerous African countries to control democratic institutions, the media, and civil organizations in order to install and maintain their corrupt dictatorships. Any opposition by western democracies is criticized as “interfering in their internal affairs” while the AXIS countries actively support the dictator economically, politically, and with military personnel and weapons. Today we see a Russian backed stolen election by the Georgian Dream Party in spite of mass protests, and in spite of strong popular support for membership in the EU, the Russian backed "Dream Party" suspended Georgia's EU succession process and rejected the opportunity of closer relations with Europe while increasing Russia's economic, military, and political ties backed by the threat of another Russian invasion. In the Georgia-Russia war in 2008, Russia captured Abkhazia and South Ossetia. Russia is building a huge Naval base in Abkhazia so this land will never be returned to Georgia. Russia attempted the state capture of Romania – a NATO and EU member after blatant Russian election interference. Romania's Supreme Court had to annul its 2024 election after the Chinese owned TikTok media blitz promoted an unknown Russian backed candidate. The Romanian intelligence service concluded that the cyber attacks on the election websites could only have been done by a state actor(Russia). Hungary, a NATO and EU member, has already destroyed its democracy as the autocrat Orban and his party support Russia's invasion by blocking needed military and economic aid while spreading AXIS propaganda.
The July 2024 election in Venezuela was stolen by the unpopular dictator Maduro after keeping the most popular politicians off the ballot, in exile or in prison and blatantly manipulating the election results by using a Maduro controlled election commission and the Supreme Court to support the lie that Maduro had won. There will never be a free or fair election in Venezuela as long as Maduro remains in power. The west is intimidated by the fact that his regime, his military and his police are supported by Maduro’s Russian, Chinese and Cuban allies. China is providing advanced technology for population control and surveillance, and Communist China is sharing the lessons learned by their success in suppressing democracy and freedom in Tiananmen Square, Tibet, Hong Kong, and their successful use of mass starvation and forced labor in the concentration/re-education camps holding 3.5 + million Uyghurs in Xinjiang province. A military confrontation to rescue democracy in Venezuela frightens the west because it would mean a direct conflict with Russia, and its AXIS allies. For example, Russian nuclear missile capable warships escorted by a submarine have docked in Cuba and Venezuela before the July 2024 fraudulent election, sending a message of intimidation to the subjugated people in those countries while clearly threatening the US and its allies so that the western democracies will not support the Venezuelan people who have voted against the Maduro dictatorship and voted for freedom and democracy. This military deployment also occurred in July 2024 as the Washington D.C. NATO Summit debated allowing Ukraine to use NATO long range weapons to defend their country by striking military targets in Russia.
We should also remember that Russian and Cuban troops, AXIS" advisors" help purge "traitors” in Venezuela (this is foreign interference in the internal affairs of Nicaragua and Venezuela). Vast quantities of military equipment, military personnel, and a vast security apparatus have been used for years in Venezuela, Cuba, and Nicaragua to prop up these dictatorships from internal threats while intimidating the US and its allies from taking action that might end totalitarianism.
China is now building a massive deep-water port in Peru along with an enormous network of tunnels and roads through the mountains to harvest the natural resources of South America. Initially this will be used for trade as China receives the South American natural resources that it needs, and sells its goods throughout South America. This new deep-water port will allow large ships to make the journey from China to Peru in only 10 days. In other words, the AXIS countries will soon be able to move an entire AXIS army. navy and air force to South America in less than 2 weeks. Although this force may be peacefully invited by one or more South American countries (note the joint military exercises of China and Belarus on the Polish border in July 2024), the AXIS armed forces can also be forcefully deployed in the future with the support from their combined navies, armies, and air force. Remember, China now has the largest navy on the planet and it is also the world’s largest shipbuilder receiving 49% of ship building orders in 2021. The US in comparison only produces less than 1% of new merchant ships. David A. Mangs Ph.D..
dont worry about that deal it the stupid opposation signed thet deal no one forced them to, but its only for one block, but we are getting rich from that one block. and no we will not change that contract, we dont brake contracts. thank God for exxonmobile.
Venezuela MUST GET OUT NOW FROM Gayanna Country
If Venezuela invade Guyana,
Venezuela will end up like Iraq.
😅B s 😅😮
Venezuelan is starving now that why they fighting for the oil
To the president of Guyana we need good drinking water and better living conditions