The interesting thing about this Guyana oil find is that the Guyan's want to work with exxon to develop people that know the oil business or have a jobs training program, reinvest their share of the oil profit in education (STEM), and upgrade hospitals and quality of services. The Guyan's have acknowledged that Venezuela's Nationalization of their oil industry has left them inept, corrupt and fucked. While thats going on the maintenance has slipped and their machinery and refinery are barely functional and therefore they are not making money cause they forced out the knowledgeable people.
https://www.investing.com/news/comm...on-oil-ship-in-guyanese-waters-guyana-1729639
https://www.stabroeknews.com/2018/news/guyana/12/03/exxonmobil-makes-10th-oil-discovery/
From CNN: Venezuela struck oil centuries ago, but in 1998 the government of Hugo Chávez installed political loyalists(hacks) into top jobs in the nationalized oil industry and began diverting the revenues into social programs(aka their pocket). The country failed to reinvest(cause profits were stolen) into its oil infrastructure and when oil prices crashed,
so did Venezuela's economy. Now, even basic goods like food and medicine have to be imported. Hyperinflation is soaring and the IMF predicts it'll hit a rate of 1,000,000% by the end of 2018.
