President Irfaan Ali says the proceeds are being spent on investing for the future and improving Guyana's infrastructure, healthcare, education, and agriculture. The powers-that-be have even pledged to fund projects that mitigate climate change, offsetting the damage the oil causes... to a limited extent.

In other words, the Guyanese government is going all out to avoid the dreaded resource curse. Also known as the paradox of plenty, the 'resource curse' is a phenomenon whereby countries with bountiful natural resources experience less growth or development than countries with fewer resources.

Having created a natural resource fund, the authorities will judiciously invest oil revenues rather than fritter them away, probably taking at least some of its cues from Norway...

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