Today, Guyana is the second poorest country in the region. According to some estimates, over the next few decades, it may become one of the world's largest oil producers per capita. However, the availability of resources doesn't always mean economic prosperity. The small Caribbean country could just become another piece of the puzzle that the United States is putting together in the region, said Tamara Lajtman, an expert at the Latin American Strategic Centre for Geopolitics (CELAG).
The entire history of relations between the United States and Latin American nations and the Caribbean region indicates that American transnational companies will be the ones who will benefit most from this discovery.
Guyana vs Venezuela
Lajtman shared the viewpoints of American experts who believe that Washington can replace Venezuelan oil from a "regional petroleum regime" with a much more stable supplier.
As a result of the meeting, a document was drafted in which it was suggested that American politicians establish closer relations with Guyana in order to guarantee long-term security. The report also noted that since the crisis in Venezuela continues to escalate, a prosperous and developing Guyana could become an axis of stability in the Caribbean, Lajtman added.
READ MORE: Venezuela Oil Output in April Drops to 16-Year Low — US Energy Department
According to the Stratfor agency [an American private intelligence and analysis company], some major oil producing companies in the United States have already begun working in Guyana. However, although the revenues of Guyana's government will increase, a large part of the country won't feel the economic benefits of oil production, since basically all the jobs in the sector have been designated for foreigners.
Military Presence
In early May, the US Navy Southern Command began New Horizons drilling in Guyana. According to the ASP (American Security Project), they are being held at just the right moment, "when Guyana is at the very centre of regional geopolitics".
There are two reasons for this: the crisis in neighbouring Venezuela and the energy future of the Caribbean country. The situation is aggravated by a land dispute between Caracas and Georgetown over the Essequibo River. A zone of 160,000 km2 has been claimed by Venezuela for several centuries and the dispute is still unresolved. The United States sees a threat to drilling operations near the maritime border between the two countries.
Economic Aspect
For many decades, Guyana was considered a transit country for cocaine on its way from Colombia to the United States. In light of this, the government has implemented various anti-drug assistance programmes and enacted laws to combat money laundering and the financing of terrorism. With the growth of oil revenues more could be done about this.
The expert also noted that one of China's largest national oil companies — CNOOC (China National Offshore Oil Corporation), owns a 25% stake in ExxonMobil's Stabroek block.
Views and opinions, expressed in the article are those of Tamara Lajtman and do not necessarily reflect those of Sputnik.
