Reza R. Rahaman posted:3.7 billion barrel of oil sounds like a lot. But, neighboring Venezuela has approximately 295 billion barrel of oil. Meanwhile places like the Ukraine has oil in the trillions. So, what's the big euphoria all about. The oil in Guyana is expected to last for about twenty years. This sounds, to me, as only a short term gain. Twenty years is a short time. For decades, on end, I have heard about the tremendous rich agriculture, gold, diamond and bauxite reserves in Guyana. So far, Guyana has remained a desperately poor country with one of the lowest per capita income in the Americas. Let's not get our hopes too high.
The revenue from oil spent wisely will be a tremendous boost for a nation of 750,000.
The capita income will increase.