Guyana's oil boom sparks border tensions with Venezuela
• Guyana has recently discovered major offshore oil reserves, turning it into a top 20 global oil producer and the world's fastest growing economy.
• Venezuela claims a large portion of Guyana's territory and offshore oil rights, holding a referendum to annex the disputed area despite lacking international support.
• Venezuela's collapsing economy and oil production contrast sharply with booming Guyana, sparking a power play from Venezuelan dictator Maduro.
• The US backs Guyana's sovereignty and is seeking to diversify oil supply, though an armed conflict could threaten regional production and send prices surging.
• With Biden hoping to keep gas prices low ahead of his 2024 reelection bid, the US has an interest in deterring Venezuelan aggression against neighboring Guyana.