Guyana fishermen make their way home to the coastal community of Clonbrook at the end of another day at sea. Guyana is one of the poorest countries in South America, but massive offshore oil reserves may well transform it to one of the wealthiest in the next few years.
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By Clifford Krauss. There are a few guynese roads between villages that sit on stilts along rivers snaking through the rain forest. Children in remote areas go to school in dugout canoes, and play naked in the muggy heat. Hugging the coast naked musty clapboard towns like Georgetown, the capital, which seems forgotten by time, honeycombed with canals first built by Dutch settlers and African slaves.
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The power grid is so unreliable that blackouts are a regular plague in the cities, while in much of the countryside there is no electricity at all. In the last three years, ExxonMobil has drilled eight gushing discovery wells offshore. If all goes well, one of the poorest countries how to sunbathe nude South America could become one of the wealthiest.
Suddenly the talk of Georgetown is a proposed sovereign wealth fund to manage all the money, as if this were a Persian Gulf sheikhdom.
But there are obstacles. Picture history is any guide, countries that discover oil often waste their opportunity, as the resource blends seamlessly with corruption.