Will Oil and Gas Be Guyana's Baccoo?

In May 2015, ExxonMobil announced the discovery of oil off the coast of the small South American country of Guyana. In the years following, more discoveries were made by ExxonMobil and other oil companies. It looked certain that Guyana would receive billions of dollars in oil earnings, possibly making it the largest oil producing country in the world on a per capita basis. The earnings and the growth of the oil industry would have dramatic impacts on Guyana, one of the poorest countries in South America. The standard of living in Guyana could improve but would the country become a victim of the oil curse? Guyana's cultural demon, the baccoo, was indeed out of the bottle.