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An oil rig in the ocean. Adobe Stock.

Guyana’s Oil Boom: 2 Steps Down, 4 to Go

ExxonMobil announced the discovery of two more massive oil fields off the coast of Guyana last month. If back-of-the-envelope estimates of around $5 billion of oil revenue per year are correct, that equates to around $6,410 USD per person—far more than the current GDP per capita of $4,655 USD. This wall of cash could be transformative or it could create a rash of new problems.