Why Americaâs Two Biggest Oil Companies are Fighting Over Guyana
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- Äas pĆidĂĄn 6. 06. 2024
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Exxon Mobil and Chevron are currently fighting over Guyana's most lucrative oil block in a feud that could reshape Big Oil in America. So in this video, we'll explain what's happening in Guyana and what the future could hold as this dispute plays out.
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As a Venezuelan Iâd rather Guyana have it, the Venezuelan government officials will just pocket all of the profits and then blame the US sanctions when our people starve.
Resource curse
đą
IAs a Guyanese I appreciate what you would rather. But as a Guyanese, I would rather that our Venezuelan friends denounce this blatant bullying instigated by one man who is stirring up external trouble because of his failed local policies. Stirring up external trouble to gain local patriotic support so that the dictatorship remains in control.
â@@OszieDe Yeah, I completely get what you mean, this has been some kind of power move to try and regain support in our country since the 60s, but in reality we haven't controlled that territory ever in our history, the spanish did way before our independence and the dutch took it from them, Venezuela just inherited the claim for a territory dispute that was never theirs to make.
Wrong
China just chillin with the 25% stake.
Oil you say? *FREEDOM SOUNDS INTENSIFIES* đŠ đŠ đŠ
Guyana already have freedom though
@@Hasanaljadid the joke is america tends to involve itself in our countries affairs wherever oil is involved/discovered under the pretense of âfreeingâ the local population
@@b434y31But Guyana is Not Iraq
@@Hasanaljadid itâs a joke jesus christ
đđđ
Just a heads-up - At 6:52, that logo you have for the SEC isn't for the Securities and Exchange Commission of the US government, it's for the Southeastern Conference of the NCAA. So I don't think they could do much about ExxonMobil. But if Chevron has a problem with Auburn or LSU, it might be able to do something.đ€Ł
lmao I was thinking the same thing
Guess I wasn't the only one that noticed that flaw...LOOOOL!!!....đ
@@WPaKFamily I legit was like "Did the coffee not kick in yet this morning, or is the government's SEC logo the one I'm thinking of?"
@@JimTheFly đ
*Freedom noises intensify
"freedom"
Guyana already has freedom though
@@Kirmo13 yes.
@@Hasanaljadid and with Venezuela threatening to conquer it, Exxon is going to make sure that doesnât happen
Oil? South America? Corps? Sounds like the corporate wars
why do you even ask, you have the words america and oil in the same phrase.
Guyana being the one needed to defend thanked to two major American companies... lol.
wait till ukraine is found to have oil, the aid packages would tripple overnight
@@NeostormXLMAX Ukraine does have oil and natural gas in the black sea but don't quote me on it
oh yes we are being exploited, exxon has given us a lollypop, and we are starving, what can we do? we are so hungry we have to eat grass.
@@amazonwarrior7126damn
I hate the fact that two big American companies are fighting over my country, and we cant even do nothing about it, and it doesn't seem the government cares either
Would you prefer the oil companies not drill for oil? Leaving your nation with none of the billions of dollars a year.
@@ThePCGamerTipsTricks i would prefer them not to be fighting.
â@@ThePCGamerTipsTricks"would you prefer not to get resource raped by foreign powers" There, fixed that for you
@@pixapel Would you prefer the U.S. just back off and let Maduro decide what happens to that oil?
Are you 12
Did someone say oil? đșđžđŠ đŠ
Saying oil is easy...discovering oil and building the infrastructure costs billions that only about the top five economies can afford or the oil stays in the ground forever..
Iâm sure the southeastern conference was very surprised when this complaint landed on their desk
Interesting , Thank You
Before any country works with an international oil company, they should check their environmental record. They should definitely check oil the ecological disasster that happened in Ecuador. A smalll country like Guyana would be destroyed if something like that happened to them.
I'm from Alberta.... Any oil company is only as good as the local government
I hope EVs get so much efficient and cheaper that oil loses its hold on the planet.
Airplanes are likely going to be the largest consumers of oil by 2050 actually and the upsetting part is there isn't a viable alternative fuel path for planes. They need fuel with high volumetric density to take up small space and batteries are decidedly not that.
EVs are currently losing out to hybrids. Besides, oil is used for a lot more than just cars. And even among EVs, a lot of them are powered by oil or even coal, just indirectly.
It won't, ever. Oil/gas is used in everything, the world relies on petrochemicals for fertilization of crops, manufacturing materials, plastics. Everything you use in your life is either manufactured using or transported using oil.
â@@chinguunerdenebadrakh7022 hydrogen for medium distances and SAF for long distances seem to be the most promising at the moment, but we will see.
â@@Deadjim17It is true, but if consumption is reduced significantly, it won't be as valuable.
Oh gee, I wonder why....
The quicker we move to renewable energy, the less relevant oil becomes.
oil is mostly not used as energy,but in countless chemical processes and can't be replaced
unless you know how to fly on electricity or propel ship on anything other than oil
less than 40% of oil is used in cars
â@@danieleverywhere132
Don't know about flying (yet?), but I'm pretty sure there are ways to propel ship on things that aren't oil.
Oil is also used to make plastics, you do know that right? Tell me how solar panels can make plastics and im sold
then lithium becomes the thing in demand
You will never be able to i âdecoupledâ from oil but you can reduce demand, especially if developing countries can leap frog
It's Either between Venezuela or Oil Companies.
I do not know if exploration rights are the same as mineral rights or extraction rights.
Oh boy here we go again
0:14 southern Neighbour or eastern neighbour?
Chevron really should win this one, as I can't imagine HESS included right to first for the whole company when they made the deal with Exxon.
Delve deeper into the horrific results of Chevron Texaco in Central America. They aren't going to follow American regulations in their operations there, and the regulations which they will follow are a blank page at this point.
@@zAlaska my initial comment is in no way an endorsement of Chevron, rather just looking at the nature of the lawsuit.
Oil companies and South America?Nothing totally bad happened there
This is the plot of Tintin and the Broken Ear.
Of course
So, it begins...
0:14 southern neighbour?
Democracy is kicking the door folksđ
Commercial fights are par for the course.
Your research and fact checking is still lacking. At 6:52, that logo you have for the SEC isn't for the Securities and Exchange Commission department of the US government, it's for the Southeastern Conference (college athletics). Like how'd you not get the logo from an official website?
The PSA gave only 50 per cent of profits not 60 as stated
What's going on with the New River Triangle? Isn't it currently under Guyanese administration?
You mean the Tigri triangle. It was annexed by Guyana from Suriname.
Oil sang can you see, by the duanterly light, what so proudly we hail, were so galantly drilling
The world is very commited to the cyberpunk timeline, i see.
Great day to own Exxon dividends regardless
Watching from Guyana đŹđŸ
Quick hide the oil ... THE AMERICANS ARE COMING.!!
As the daughter of a Guyanese mother, that pronunciation of Essequibo is so painful, I had to stop 10 seconds in. I wonât send it to her, I wonât hear the end of it otherwise. I hope this doesnât go viral there, for your sake.
Google it... most people agree: Author's version is more correct. Just because because your mother is from there it doesn't make her version correct. đ€·ââïž
Those two oil majors must fight for the spoils of oil as after all the oil is almost free.
The curse of oil ? is saving Guyana from Venzuevela's imperilist over-reach.
Also this means for average Guyanan standard of living should increase several fold, unless corruption has its way
Venezuela is not being imperialist
Lol you think western companies wanting their oil is gonna help the average Guyanan? Have you checked how well that's worked in the past lol? The only way to do it right is how the ME and Norway went about it - take control of your own oil and keep all the profits internally (and hopefully share them with the populace). Of course when Iran tried to do that, the Brits and Americans deposed their PM in favor of a puppet - who was so unpopular that it led to a massive public uprising.
The average Guyanese is fairly well off for Latin American standards. Its a bit middle of the road corruption-wise, but I suspect a bunch of its new-found wealth is going to be spent on defence.
The curse of oil has already negatively affected Guyana. The only reason Venezuela is even thinking of taking over Guyana is entirely due to oil. There is almost no reason to bother invading Guyana otherwise. And the issue with the 'curse of oil' doesnt happen when its first discovered, its what the country does with it long term. Very few countries have successfully overcome this, and those few countries either have a very solid government that already has very little corruption, or just has so much oil/gas money per citizen that they really cant 'lose'.
Lol you think western companies wanting their oil is gonna help the average Guyanan? Have you checked how well that's worked in the past lol? The only way to do it right is how the ME and Norway went about it - take control of your own oil and keep all the profits internally (and hopefully share them with the populace).
USA: "We will defend Guyana from any foreign aggression, Venezuela absolutely shouldn't attack it"
Guyana: "Oh how great! Finally someone stands up for human rights!"
USA: "Yeah, human rights.... sure, let's go with that"
America bad, so brave! *slurps chocolate soylent*
Venezuela: "We want to invade Guyana!"
Communists: "US bad"
I am definitely not a communist lol, just wanted to point out how business interests dominate the world (which should be obvious, but governments still tend to say that they are doing things for "freedom and democracy", or in the case of anti-Western countries, "fighting the exploiting, capitalist West", while these are just excuses).
â@@nntflow7058Guyana invaded venezuela during the independence wars when it was a British colony
If anything we would be taking our land back
but yeah as if the socialists would do something good with it, I'd rather not recover it than leave maduro to plunder it
@@alvaromachado1388 that was Britain that invaded, not us.
Neat
Is the short answer just "money"?
Let them fight
GME is rising again maybe make a video about this volatile stock or what meme stocks are
How many understand petrol keep the dollars propped up for decades and they control other with the actuall recourse and pricing it too
Looks like Guyana is about to get some good olâ democracy and freedom sent its way in the form of a super carrierâŠ
So is it better to let Venezuela have the oil field or the US company to have it instead?
Fighting over resources that does not belong to them!!!!!
Exxon isn't Guyana. Companies dont realize that the 2020's are the years where getting too big hurts buisness. Theres been a bubble waiting to burst since WW2
Too big hurts business? Apple Microsoft and nvidia would like a word
Make a video about GME
for u to no sir exxon do not pay any tax to guyana i live in guyana
So if we just wake up and claim all of Surinam you would stripe out Surinam?
They have to fight for the oil cause when their $ collapse they are trying to full their pockets. Guyanese are always in a dream
There's oil there? Let's give them freedom!!!!
Do you have an explanation why you give piece of Guyana to Suriname??
0:13 what is the disputed territory in the south east of Guysna
The Courantyne River triangle, which is disputed with Suriname. The border was defined as the Courantyne river, but the source of the river was incorrect when the border was decided. The area was awarded to Britain, in the same tribunal that essiquibo was. However, the Dutch, and then Suriname still dispute the border. Although it is currently controlled by Guyana.
Tigri boundary.
Basically Britain and the Netherlands entered negotiations to decide where the border would be before Guyana and Suriname became independent, insisting it be resolved before independence was granted, decided that that sounded way too boring and granted independence anyway.
Luckily part of the boundary that they agreed on is a river system, which as we all know never leads to any sort of issue /s
And they say paper straws can fix the climate issue. Lol
After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
I'm 37 and have been looking for ways to be successful, please how??
In times like this you need a good expert like Claudia Vechi Nesse to help you get through.
đ±Sounds familiar, I have heard her name on several occasions.. and both her success stories in the Wall Street journal!!!(
The economic hardship, recession, unemployment and the loss of job caused by covid pandemic is enough to push people into financial ventures.
Trading without professional guide...Huh I laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
Great content! Thanks. I'm Guyanese. We are the most weird, interesting, small, unknown country there is :) Oil just makes it more interesting
Guyana got 50% of the profit not 60%.
Supermajor is such a stupid sounding term for a company. It sounds like a sportsball league. đ
Neocolonialism.
â€â€â€
American here. 100% team Chevron.
To the president of Guyana we need good drinking water and better living conditions
Use public transport, bikes and EVs.
Our average monthly wage is around 600-800
This is from citizen perspective not a statistical one
Not that bad actually, in my country is 1400âŹ
This companies wrecked my country of Ecuador
Uh ohh it sounds like Guyana needs some freedom down there
Let me guess, is it because of oil?
They're Oil Companies, do'h!
And if you are European, and you donât think this affects you, well it does, the price per barrel affects you too in your own nation. If it goes goes to Venezuela, it will hit the market very much under OPECs influence. So if youâre not enthusiast about the Americans getting this well considered the alternative. Because itâs going to be one of those.
It's worth getting an EV just to know that you have nothing to do with these corrupt planet damaging politicians and corporations... I am f-ing loving it.
Mining...
Smells like a civil war
Nit possible in Guyana It's very Tiny population
â@@Hasanaljadidi was shocked when i realised they have a healthy number of muslims to do that thing they do
@@Hasanaljadid we had a civil war before, but to be fair the opposing side was backed by Venezuela.
Guyana destined to be a developed country soon. Happy for Guyana.
What research did you do to come to the conclusion that the lower left section of Guyanaâs map belongs to Suriname? Because all them maps that youâve used in this video shows an inaccurate map of Guyana.
Guyana attacked Suriname and annexed the area in 1969. They never respected the agreement to demilitarize.
Guyana should nationalize its oil resources and establish a sovereign wealth fund, just as Norway did in the 1950s. Private oil companies are exploiting Guyana, and the country has not yet benefited from the oil boom. Moreover, the new sources of income should be invested wisely, particularly in the military, as Venezuela is becoming increasingly aggressive and may attempt to attack.
Guyana did establish a sovereign wealth fund and are currently investing in infrastructure projects. Guyana canât nationalize as it literally lacks the technical expertise and financial resources necessary. And weâve seen how well nationalization worked in Venezuela
They probably have the same problem as most poor countries, they have the materials but canât do anything with them to create high value products and thatâs where we come into action.
@@santostv. Guyana could take out a loan from the IMF or the World Bank, similar to how Qatar financed its LNG gas production.
Relax bro leave it to the expertsâ@@TheMasterTeddy
For a second I thought it said Armenia.
Welcome to America kids. This is capitalism with gun in your month.
and it has f*ck all to do with anything we understand as a "free market"
so just capitalism
The government is getting millions of dollars. No way they can extract the oil themselves.
If they so hate it then they can fend for them selves from Venezuela
Hint: it's not the US that's attacking
build a wall?
American companies fighting over something like it's a toy is the entire history of Latin America in the last century.
Youâre doing yourself a huge disservice if you think thatâs all the history is about. It didnât start and it wonât end with the Americans. They will certainly have a big part of that both for better and for worse.
Who needs oil in the age of EVs?
You're kidding right?
@@skp8748 No. EVs were not made for nothing.
There is likely also heaps of natural gas in the Guyanese deep interior. The indigenous peoples used to call the bubbling pits a Dutchman's grave or some such thing. Complete inaccessibility in the unforgiving jungle, low NG prices and the distraction of looking for gold made everyone lose interest in any gas deposits. It might be worth looking into it now.
Bad idea letting Americans get involved, all the profits will get syphoned off and the average family wonât see any benefit
NamĂbia will be the next battle
Humanity: "Global warming who??"
If they extract all the oil by 2050, then they might still meet the target of "carbon neutral by 2050".
Climate change? What climate change?
Guyana's plan is simply to extract the oil and use the money to invest into more greener energy, as well as maintaining the amazon that takes up about 80% of the country.
It's better for Guyana to just keep the oil under ground and never let it get out
But really you journalists on CZcams believe the lies told by yourselves. The situation of this business is much messier than you make it
Why ? But this is Great for Guyana increases the chance they will get a great deal that will benefit the people.
The tigri region thatâs claimed by Surinam is under Guyana government control. And hence the map used for Guyana the south west area is incorrect
Random country: "Omg. I found oil"
America: "And soon you will find freedom"
"Oil, who said something about oil, are you cooking?" - Black Bush
is this civil war?
Literally Sauron and Voldemort throwing it down for Guyana.
Best analogy yetđ
Are we talking monetary or normal billions of barrels of oil?
A big difference between 11 thousand million and 11 million million
Chavistas have been in power since 1998. I dont see oil-wealth trickling down. Just like before it has stagnated with Ruling Class.
Venzuevela is a rich country in terms of oil revenue. Its the largest producer of oil at 303 million barrels per day.
Same as before, I dont see oil wealth trickling down in hands of ordinary Venzuvelans.
Oil wealth doesn't trickle down in the USA either. In fact, they are given loads of tax subsidies and loop holes, and a much lower tax rate than the average citizen. It seems those with power and money don't like to see the people thrive.
I smell WMD from Guyana
How dare Venezuela threaten to annex western Guyana! They should be more civilized, like France.. who took French Guyana by colonization instead!
Wait till you see the genetic records of Venezuelans (hint: most of it is European).
This is great, lately I have been getting passive income from weekly crypto and stock trading, it has changed my life, I was really doubtful at first
Oh good? How do you do this, i have been losing money for a while now, can you tell me how you earn passive income every week?
Have used the Larry Kent Burton strategy all these years he is very good at what he does you should also try using his trading strategies
Mr. Kent has good connections with big investors as he works in the stock market, so finding a partner won't be a problem. I'm almost working on it during the unification process
think i came across this name Larry kent burton on my way to work on billboards and his effectiveness how can he be contacted please
He's on Instagram ***
123 views in 5mins. Politics fell off
â@@akera300Probably some right wing populist who wants everyone to glorify Dear Leader at all times.
It's a common joke comment you see everywhere. When a video is just uploaded, they say "only 3 views in 5 seconds, you really fell off"
Hahaa so Maduro was right all along
About what