Climate warning
Image of ExxonMobil

ExxonMobil

Climate warning

Oil company ExxonMobil: Massive expansion of the fossil fuel business in Guyana

While oil companies in Europe preach ecological responsibility, they are massively expanding business with fossil fuels elsewhere. Guyana is set to benefit from ExxonMobil's oil exploration. Exclusive satellite images show how the US group is massively rolling out business in the small Amazon state. Economy from above is a cooperation with LiveEO. Old wooden houses from the colonial era give way to modern buildings made of glass, steel and concrete in Georgetown. Workers carve four-lane highways, usually more gravel, across the countryside. A deep-sea port is to be built in the far east. Guyana is changing. The main reason for this lies more than a hundred kilometers away, deep under water in the bottom of the Atlantic: it is oil. Exclusive satellite imagery from LiveEO shows ExxonMobil gearing up for the big extraction in the small Amazon country. Some, the US company Exxon and the government of Guyana say: That's good, the deposits far off the coast bring jobs and income for the state. The others, the opposition and some lawyers, say: That's bad, Exxon can act practically uncontrolled, Guyana doesn't benefit from it in the end. While oil companies in Europe preach ecological responsibility, they are massively expanding business with fossil fuels elsewhere. Guyana is set to benefit from Exxon's oil exploration. The country with a good 800,000 inhabitants, enclosed between the states of Venezuela and Brazil, could become the fourth largest offshore oil producer in the world. Is that a curse or a blessing? In recent months, workers have built an island at the mouth of the Demerara River, which runs along the capital Georgetown into the sea. Exxon is already building plants there to process the oil. The group already operates more than a dozen offshore oil fields belonging to Guyana. One of them has an estimated value of more than 40 billion US dollars. The US Agency for Development Cooperation USAID assumes that the oil fields in Guyana will secure a total annual income of around ten billion dollars. Guyana may soon exceed Exxon's production in Texas' Permian Basin. Also read: Here's the next energy problem brewing for Europe Better roads and houses could be an indication of more prosperity in Guyana. But critics fear that this move is just a new kind of colonialism, a means to siphon off the country's resources and move them out of the country. What the people of Guiana will have at the end of it is questionable. The leader of the opposition, Audrey Norton, says he is concerned that the oil will exacerbate ethnic conflicts and income inequality in the country. One thing is certain: the oil boom will bring jobs that are usually better paid than the often unstable working conditions in the tertiary sector. The technically particularly demanding jobs in oil production, on the other hand, are mainly taken on by foreigners because Guyana lacks the appropriately trained specialists and engineers. The extent to which dependence on foreign companies is paralyzing actual economic development through the oil business has been evident in Venezuela for decades. Despite the great oil wealth, the country is suffering economically and socially. Inflation rates have been enormous for years. https://nachrichten.wiwo.de/be97b61f4a346421c525f3d8d22a7d04c53d469f4de108d398279c2eb00951bc2592b476fbf101175d09fd8905d28e0b129340708?utm_source=web-frontend&xing_share=news

Do you agree?

20 more agrees trigger contact with the recipient

  • Rashid Kamau

    43 w

    Disheartening! Why should they keep us lagged behind?

    8
    • Grace Njeri

      43 w

      @rashid_kamau They are so inhumane!

      1
      • Patrik Lobergh

        43 w

        @grace_njeri_804 They give the world and all of us their middle finger, they don't care about the planet or other people, they are only in it for the money and hence they are GREEDY and thieves

        1
      • Ajema Lydiah

        43 w

        disappointing

        14
        • rosebellendiritu

          43 w

          It's very concerning and sad to read some arguments of certain leaders,you cannot allow more oils just because there will be guarantee of stable jobs(monetary interest)there is more to life than only money.

          7
          • Elizabeth Gathigia

            43 w

            We don't need more oil!! 😣

            5
            • Markus Lutteman

              43 w

              It's hard even to find the right words to describe how rotten these oil companies are. But it is also super important for the international community to step in and assist Guyana in the green transition and make it easier for the country to say no to this money.

              14
              • Patrik Lobergh

                43 w

                @markus_lutteman_141 Agree, they need access to financing, renewable technologies and support from decent states and companies

                2
              Welcome, let's solve the climate crisis together
              Post youtube preview with preloading
              youtube overlay

              Write or agree to climate reviews to make businesses and world leaders act. It’s easy and it works.

              Write a climate review

              Voice your opinion on how businesses and organizations impact the climate.
              0 trees planted

              One tree is planted for every climate review written to an organization that is Open for Climate Dialogue™.

              Download the app

              We plant a tree for every new user.

              AppleAndroid