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Guyana, a former Dutch then British colony that gained independence in 1966, is one of only a handful of countries that is a “carbon sink,” meaning it stores more planet-heating pollution than it produces. This is due to its vast rainforest; trees remove carbon dioxide from the atmosphere as they grow.
But the tiny country — sandwiched between Brazil, Venezuela and Suriname — has tightly embraced oil as a route to prosperity. In December 2019, then-President David Granger said in a speech, “petroleum resources will be utilized to provide the good life for all … Every Guyanese will benefit.”
It’s a narrative that has continued under current President Mohamed Irfaan Ali, who says new oil wealth will allow Guyana to develop better infrastructure, healthcare and climate adaptation.
And while plenty of Guyanese people welcome the new oil industry, some say Guyana’s startling economic statistics do not reflect a real-world prosperity for ordinary people, many of whom are struggling with the higher prices accompanying the oil boom. Inflation rose 6.6% in 2023, with prices of some foods shooting up much more rapidly.
CNN contacted President Ali, the Ministry of Natural Resources and the Ministry of Finance for comment on this story but received no response.
Read the full piece at the link in our bio.
📸: Will Lanzoni/CNN
