April 21, 2024

Guyana’s Fast-Growing Oil Economy Risks Inflation, Venezuela Conflict

Guyana has undergone a huge transformation in the near decade since a massive oil discovery off its shores. That’s on full display at the Georgetown Marriott hotel.

By sundown, oil executives in branded shirts step out of vans and mingle with tables of development bank officials, already debriefing over yucca balls and iced beers. A basic room at the chronically sold-out hotel can cost more than $600 on an average night in January. Those prices nearly triple by the time Guyana’s annual oil conference starts in mid-February, drawing in big energy CEOs and world leaders to the tiny nation of 800,000.

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