Nations once relegated to the margins of economic discourse are now sprinting toward prosperity, their trajectories propelled by a single, unifying force: energy.
Energy is indispensable. From the huge AI data centers in the U.S. to the mega-scale manufacturing factories in China, affordable and dependable energy supplies make all the difference between living and thriving.
Access to domestic energy resources – or the ability to secure imports – unlocks a cascade of opportunity: Jobs multiply, infrastructure rises, and governments gain the fiscal muscle to invest in their people.
Oil and gas, derided by climate elites as relics of a bygone era, are proving instead to be the engines of a new dawn. A cohort of nations is charting a radically different course fueled by the unyielding pragmatism of hydrocarbon exploitation.
Guyana: From Obscurity to Oil Juggernaut
Nestled along South America’s northern coast, Guyana was once an afterthought in global economic discourse. Today, it is the world’s fastest-growing economy, with gross domestic product (GDP) skyrocketing by a staggering 63% in 2022 and 38% in 2023. It is projected to grow another 27% this year.
Guyana’s growth leaves even the vaunted “Asian Tigers” – Hong Kong, Singapore, South Korea and Taiwan – in the dust. By 2025, analysts project a still-robust expansion of more than 14%, driven by the relentless output of the Stabroek Block, 6.6 million acres of oil reserves off the country’s Atlantic shoreline. The 2015 Liza discovery, a 10-billion-barrel bonanza, has transformed this nation of 810,000 into an energy powerhouse.
The fiscal windfall – $2.57 billion in 2024 alone – has funded infrastructure upgrades, healthcare expansions and education reforms. As Upstream Online reports, Guyana’s per capita income has quadrupled since 2019, a feat unimaginable without oil.
Niger: Africa’s Pipeline to Prosperity
Half a world away, in the arid expanses of West Africa, Niger is scripting a similar tale. Long known for uranium and subsistence farming, this landlocked nation is poised to ride an oil boom that could redefine its future.
The key? The Niger-Benin pipeline, a 1,212-mile conduit that promises to ferry crude from Niger’s Agadem Rift Basin to the Atlantic coast. After diplomatic hiccups with Benin were resolved in August 2024, production was expected to surge past 110,000 barrels per day (bpd) in the coming years. GDP is forecast to soar as a result.
Senegal: Gas Lights the Way Forward
Further west, Senegal is joining the energy-driven renaissance. The Sangomar oil field, which began production in June 2024, and the Greater Tortue Ahmeyim (GTA) natural gas project, straddling the Senegal-Mauritania border, are rewriting the nation’s economic playbook.
In 2024, the Sangomar field exceeded its initial target, producing 16.9 million barrels of crude oil compared to the planned 11.7 million. With oil output exceeding 100,000 bpd and GTA is poised to deliver liquefied natural gas (LNG) to global markets, Senegal’s GDP growth is projected to hit double digits in 2025, among the highest in Africa.
Senegal’s GDP growth was around 10% in 2024, and energy exports were projected to account for 30% of government revenue in 2025. Crucially, gas-fired power plants are slashing electricity costs, enabling industries to thrive.
Côte D’Ivoire: Diversification Through Hydrocarbons
Côte D’Ivoire, long reliant on cocoa and coffee, is emerging as West Africa’s quiet energy giant. The country has exceeded initial estimates for production from its Baleine oil and gas field.
Oil production has doubled since 2020 to 60,000 bpd, while natural gas – supplying 72% of the nation’s electricity – has lured industries from across the region. The country plans to reach 200,000 barrels of oil per day and 450 million cubic feet of gas daily by 2028.
Thanks to rapid oil and gas development, Cote d’Ivoire has managed to reduce its poverty rate from 55% in 2011 to 37% in 2021 (the latest data available). With oil output projected to more than triple in next four years, the poverty rate could drop to single digits.
Energy poverty, not climate change, remains the immediate threat to these regions and continues to plague the future of millions of Africans and South Americans. Solar panels and windmills cannot power steel mills, factories or cities.
The governments of Guyana, Niger, Senegal and Côte D’Ivoire understand this. They are prioritizing their citizens’ livelihoods over “carbon-reduction” targets drafted by so-called elites in Brussels or New York.
Their success exposes the vacuity of net-zero dogma and reaffirms a timeless truth: Energy abundance is the foundation of human progress.
Vijay Jayaraj is a Science and Research Associate at the CO2 Coalition, Fairfax, Virginia. He holds an M.S. in environmental sciences from the University of East Anglia and a postgraduate degree in energy management from Robert Gordon University, both in the U.K., and a bachelor’s in engineering from Anna University, India.
This article was originally published by RealClearEnergy and made available via RealClearWire.
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We had this one just two days ago.
And it is still ridiculous hype.
Yes, and your comments were just as wrong then as they are now.
Reality is never hype.
Developing countries are throwing off the anti-CO2 shackles.
Get used to it !!
Can you not just be happy for the jobs this will bring and the chance for these countries to improve their healthcare etc., or maybe you side with the eco-colonialists and want to keep these people where they belong?
Well, heck, who is going to make all that hand made stuff like baskets, etc. that the eco-colonial “fair trade” people love to import making everyone feel good about the 3rd world.
Revolution is the best way for these lands to “improve their healthcare etc”. Oil revenue for these modern finds mostly just gets trickled up, and sent to hideaway accounts. In my most extensive experience – Yemen – they’ve produced ~2,8 Bbo, and Saleh stole ~$30B himself before he beat feet. Almost none of the rest was actually spent for Yemeni health and welfare, and they are now about as screwed as any country on earth. All they have left are multiple trash cans and no money for plugging, abandoning, restoration. Kind of like almost every oil producing area, including the US, the UK, Venezuela, Brazil, the FSU, Africa….
“All they have left are multiple trash cans……”
You are talking about wind turbines and defunct solar panels, right ??
“You are talking about wind turbines and defunct solar panels, right ??”
Nope.
https://www.sciencedirect.com/science/article/abs/pii/S2214790X23000205
“Using publicly reported accounting data on asset retirement obligations and provisions, the present value of worldwide oil and gas decommissioning liability is estimated between $311 and $362 billion circa 2021.”
I dare you to find a comparable present value cost of removal/disposal for defunct “wind turbines and defunct solar panels” any more than 2 orders of magnitude lower. And a cost for the ARO for everything installed that’s more than one order of magnitude lower.
Bigger pic the value in renewable sites is above the ground. So, unlike extractors. there is no value to the producers in bailing on maintenance/keep up costs. For well sited installations, the lessor/lessee agreements between land owners and producers will last pretty much into perpetuity.
ROFL oil revenues in USA were $330.8 billion in 2023 and $244.4 billion in 2024 so basically it’s one years revenue. They will be making that each and every year until they have to retire the asset …. … now try it on renewables with and without the feed in subsides 🙂
Put bluntly if renewables were such a good thing they wouldn’t need incentives and government money.
I agree that the richest 10 men in the world could pack up and pledge a small %age of their net worth to solve this problem. But n’gonna happen.
You mention revenue, but tellingly, not profit. Oil and gas -especially in the US – is now, and will continue to be, a $ trading business. And that Harvest Mode business plan – except for those hippy dippy Norwegians – depends on shirking asset obligations.
“Put bluntly if renewables were such a good thing they wouldn’t need incentives and government money.”
As with the fossil fuel producers “needing” government Ben Dovering to asset retirement shirking and generations of environmental, safety, health blind eying, I agree that there would be less wind and solar without start up helps. Not as much as you infer, of course, since replacement of current levels of penetration with FF’s would raise their cost so much that they would meet in the middle somewhere. Which is why I think that job #1 needs to be for the producers of ALL forms of energy generation to be required to insure/lockbox for their current P90 costs of asset retirement.
And yes, we can both dream of cheap, mobile SMR’s and the permanent nuc storage required for them. But ’til then, we’re stuck on the downside of Hubbert’s curve with only renewables there to tide us over…
Nick lives in one of those Eastern States of Australia that has black hole budgets that is paid for by other Australia states and he doesn’t get how the economy works.
Ask Nick if he understands why WA and Queensland get higher returns of GST than other states 🙂
“Nick lives in one of those Eastern States of Australia that has black hole budgets that is paid for by other Australia states and he doesn’t get how the economy works.”
I had no idea, so you made me look. Apparently, either my AI return is all intercoursed up, or it’s opposites day today.
In the context of the Australian federal system, the term “giver states” refers to states that contribute more to the federal government than they receive in funding, while “taker states” receive more funding than they contribute. In Australia, the states that are considered “giver states” are New South Wales, Victoria, and Queensland. [1, 2]
Here’s a breakdown: [1, 2]
Not all images can be exported from Search.
A job for Ed Miliband…
Ed Miliband, the energy secretary, said: “The UK has a boundless supply of windthat cannot be turned on and off at the whims of dictators and petrostates.
https://www.theguardian.com/environment/2025/apr/04/offshore-windfarm-in-sussex-turbines-rampion
What a fool. We are a petrostate
Wind and solar don’t need any help turning themselves off
Miliband’s ‘whim’ is shutting down the North Sea…
The UK certainly has a boundless supply of hot air.
In November 2024 an extended period of dunkelflaute in the UK lasted 5 days, unreliable generation was minimal, and we relied on large amounts of gas fired generation. The 5 days was far longer than the capacity of any batteries available to operate (the average capacity of current GB batteries is 1.5 to 2 hours).
Northern Europe also experienced dunkelflaute on the 5th-7th of November and 11-12th of December with wind at 2% of the December average of 26% from 2019-23.
The only boundless supply of wind around comes from Ed every time he opens his mouth.
“…boundless supply of wind…”
If he is referring to people like himself breaking wing, then I agree.
If a fly passes through a fart, is it to them like you or I driving past a BBQ?
______________________________________________
Uhhuh, look what it did for its next door neighbor:
“Venezuela is a developing country, has the world’s largest known oil reserves, … and the excesses and poor policies of the incumbent government led to the collapse of Venezuela’s entire economy. The country struggles with record hyperinflation, of basic goods, unemployment, poverty, disease, high child mortality, malnutrition, environmental issues, severe crime and corruption.” Wikipedia
It isn’t what I would call a free market economy, it’s another iteration of failed socialist politics.
Venezuela’s problems are mainly because of greedy, corrupt and power hungry politicians.
How Venezuela Fell From the Richest Country in South America into Crisis | HISTORY
Why do all socialists and Marxists turn out to be greedy, corrupt, and (especially) power hungry? Why do they all turn out be psychopaths or sociopaths with huge doses of narcissism or egomania thrown in? Does Marxism create these psychotics or are these psychotics drawn to Marxism? It’s an intriguing question.
This is what happens when you have an authoritarian system of government.
And sudden influxes of large amounts of cash can turn your one-placid gov’t into exactly that.
So, are you defending socialism or simply attempting to ignore it?
? ? ? I merely pointed out that BVjay Jayaraj’s headline:
“Oil & Gas Turning Poor Countries Into Economic Miracles”
Ain’t necessarily so like he implied. No more no less.
That’s Marxism for you!
I think Tom’s point is, what’s to prevent the same thing happening in Guyana?
Tom?
I thought it was Tom Abbot’s comment. Sorry.
It isn’t the oil and gas that is wrecking the Venezuelan economy, it’s socialism.
The only way that third world countries can develop is by the use of solid reliable energy supplies.
That mean COAL, OIL and GAS.
Wind and solar are useless for developing a modern society, and are destroying modern societies once they get to too high a percentage of supply.
Their erratic, intermittent nature makes them more like a parasite, a large tape worm that will eventually starve and destroy the host.
Story tip: Plans for hundreds of batteries in shipping containers on farmland near Canterbury
The city council ruled in late February the EIA – a means to formally explore the impact a project will have on a nearby area – would not be needed.
https://www.kentonline.co.uk/canterbury/news/plans-for-hundreds-of-batteries-in-shipping-containers-on-fa-322315/
As usual the reporter doesn’t know the difference between MW and MWH. Neither does councillor Harry who promotes the stupid idea.
It’s great to see new and more oil and gas sources being found and exploited. That’s likely to continue for years to come. It’s important to keep in mind, though, that there will be a “peak oil and gas”…someday. Let’s hope that will be measured in decades, not years. In the meantime, it’s important to keep research and construction money continuing into appropriate projects.
Among into those things that are NOT appropriate are solar panels and wind turbines. Decades of experience has proven that those are anything but reliable and inexpensive. Focus needs to be moved to appropriate fission sources for electricity. That seems to be slowly transitioning but must be accelerated. Fusion power is nearly as elusive as is cheap and reliable wind and solar power are. It’s been a huge money sink for decades and still isn’t close to feasible. I doubt our grandchildren’s grandchildren will have a “Mr. Fusion” in their back yards powering their houses and their ubiquitous commuter Teslas and Waymos.
There’s nothing on the visible horizon for powering airplanes, semi-trucks, vacation cars, trains, ships, and even space launch vehicles other than liquid fuels. Liquid fuel that doesn’t evaporate at reasonable temperatures and pressures is ideal. That’s a good place for research, as well. With cheap enough electricity, synthetic liquid fuels should become possible.
Centuries, not decades.
Latest R/P is less than 54 years. And that includes the bogus reserves classes of Proved, Developed, Not Producing, and Proved, Undeveloped. These have not been fully ripening for most of this century, and with petroleum engineers out of their bag of tricks, they are losing steam even faster..
There is no world wide accounting for Proved, On/Annualized Current Production Rate that I have found. But it is certainly a fraction of these 53.5 years. FYI, in economically evaluating reserves for M&A, any class lower than proved, on is highly deflated, for good reason.
Sorry/not sorry to bubble bust…
What do fusion energy and Hubbert peak oil have in common? They are always ten years away, and have been for the last 70 years.
You’re 0.5 right. The H curve was put off by a good US oil biz culture, Ben Dover environmental, safety, health, regulatory enforcement, but mainly plenty of commercial innovation by my petroleum engineering co-workers. That’s over. Candidate quality is dropping, competitive drainage is increasing, frac hits are rampant, and we petroleum engineers can’t figure out how to economically stop them. Service rates are up, as the service outfits can no longer keep up their frac fleets and maintain their work force, without charging more than the market will bear. All before consideration of the 6-7 $ figures of per well plug and abandon costs that are being added when you try and P&A several miles worth of flat, hydraulically incompetent multi-laterals.
This is why the juiciest US play, the Permian will – for the first year – have reduced proved, on reserves – compared to the last.
At the turn of the LAST century (1900), there was only 40 years of oil production left. When I was in college (early ’70s, there was only 40 years of oil production left. You say it is now 53 years! Oil production is definitely looking up!
There was from a continued series of petroleum engineering improvements, coupled with drilling/completion candidates up the Wazoo. That’s all over. Unlike the teary eyed good ol’ days, every metric is now down.
https://wattsupwiththat.com/2025/04/05/oil-gas-turning-poor-countries-into-economic-miracles/#comment-4059173
“You say it is now 53 years! Oil production is definitely looking up!”
Nope. AGAIN, R/P is based on several reserve classes, only one which is worth a sheet. And it’s also based on present production. Renewables have enough current penetration that if they retreated even a fraction as much as the WUWT crowd would wish, that number would be a fraction of that fraction.