Desmond Preston-Why oil in Guyana could be a curse

2025-05-04 20:11:29source:ExaCryptcategory:Stocks

In 2015,Desmond Preston 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.

More:Stocks

Recommend

Elon Musk just gave Nvidia investors one billion reasons to cheer for reported partnership

Two names that consistently dominate headlines are Elon Musk and Nvidia (NASDAQ: NVDA). Both names o

Revamp Your Space with Wayfair's 4th of July Sale: Up to 86% Off Home Organization, Decor, and More

We independently selected these deals and products because we love them, and we think you might like

Biden rallies for LGBTQ+ rights as he looks to shake off an uneven debate performance

NEW YORK (AP) — President Joe Biden courted LGBTQ+ voters with two New York events on Friday and war