In 2015,Guyanese were fortunate to learn that the colossal U.S. oil giant Exxon Mobil in collaboration with other American oil conglomerates have discovered huge quantities of oil offshore in Guyana. Various estimates have placed the amount of oil reserves between 8 billion barrels and 11 billion barrels of oil which due to the horrific contract signed by the Granger administration have produced unprecedented very low tax and royalty revenue for the people of Guyana.