Guyana, oil wealth and the resource curse : The Indicator from Planet Money In 2015, Guyana changed forever when ExxonMobil discovered major oil deposits off its coast. The impoverished South American country known for its thick rainforest was suddenly on course to sudden wealth.

But while a mining boom may seem like only a good thing, it can often be bad for countries long-term. Today on the show, how Guyana can still avoid the so-called resource curse.

Related episodes:
Norway has advice for Libya

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

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Why oil in Guyana could be a curse

Why oil in Guyana could be a curse

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As Guyana seeks to ramp up oil production, it opened bids on September 12, 2023 for several oil blocks available for exploration and development. Matias Delacroix/AP hide caption

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Matias Delacroix/AP

As Guyana seeks to ramp up oil production, it opened bids on September 12, 2023 for several oil blocks available for exploration and development.

Matias Delacroix/AP

In 2015, Guyana changed forever when ExxonMobil discovered major oil deposits off its coast. The impoverished South American country known for its thick rainforest was suddenly on course to sudden wealth.

But while a mining boom may seem like only a good thing, it can often be bad for countries long-term. Today on the show, how Guyana can still avoid the so-called resource curse.

Related episodes:
Norway has advice for Libya

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

Music by
Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.