Guyana: Myth of capitalist resource extraction as development

Abstract

Guyana has been subjected to the myth of capitalist resource extraction as “development” both as a colony and well after it gained independence. Guyana's colonial history, its history of structural adjustment, and its ongoing situation of foreign domination have all made “development” an elusive goal for the country. This article discusses why it is unlikely that oil will “develop” Guyana, and Guyanese frustration with foreign dominance in the oil and gas sector as is seen through various lawsuits raised against the government and ExxonMobil. I argue that oil presents a new opportunity in Guyana for a reignited and transformed movement for racial and national unity, which was not previously present in other extractive industries like sugar or mining. Whereas the aforementioned extractions allowed for some redistribution – via a decentralization of the power brokers in those sectors to include Guyanese – that opportunity is not present with oil. Oil extraction requires a lot more equipment and specialized knowledge – which has shut out small and local producers present in the other sectors– thus has, and will continue to, place Guyanese in confrontation with foreign capital in the oil and gas sector. Today, successful legal mobilizations in Guyana means that direct political mobilizations are unlikely to occur.