Analysis

camila ramos mauricio cardenas jose zapata lisa viscidi pandemic oil price collapse latin america covid-19 Video

Examining Implications of Covid-19 and Low Oil Prices for Latin American Energy

The recent oil price collapse, combined with the economic contraction resulting from measures to fight the global Covid-19 pandemic, will have extensive and largely unforetold impacts for Latin American energy markets and beyond. These implications include cuts to investment and delays to ongoing projects in both oil & gas and renewable energy, fiscal and broader economic constraints, and legal disputes, said panelists during a webinar held on April 1. 

Nate Graham

Event Summaries ˙

PDVSA gas station in Venezuela

Can Venezuela’s Oil Industry Ever Recover?

Once a major OPEC producer, Venezuela has witnessed a spectacular fall in oil production over the last 20 years under Hugo Chávez and Nicolás Maduro. In 2019, U.S. sanctions hastened this decline. Will Venezuela ever reclaim its place as a top oil producer?

Lisa Viscidi, Nate Graham

Articles & Op-Eds ˙ ˙ Houston Chronicle

Report Cover for Electrified Islands

Electrified Islands: The Road to E-Mobility in the Caribbean

Caribbean islands are in many ways ideal markets for electric vehicles, and several Caribbean jurisdictions have made significant advances in promoting electric mobility. Examining five case studies—Barbados, Bermuda, Cayman Islands, Jamaica, and the Dominican Republic—this report identifies the key challenges and recommends actions that Caribbean governments and other stakeholders can take to stimulate EV adoption.

Lisa Viscidi, Nate Graham, Marcelino Madrigal, Malaika Masson, Veronica R. Prado, Juan Cruz Monticelli

Reports ˙ ˙ Download Report

Venezuelan flag Video

Can Western companies save Venezuela’s oil sector? Do they want to?

Lisa Viscidi and Nate Graham spoke with S&P Global Platts about the findings of a new report which argues that Western oil companies will be needed to revive Venezuela’s oil sector. They discuss the obstacles that could affect whether these firms increase production in the country under a new government, including US sanctions uncertainty, high taxes, and a shortage of workers and working infrastructure.

Lisa Viscidi, Nate Graham, Brian Scheid, Meghan Gordon

Interviews ˙ ˙ S&P Global Platts

Reviving Venezuela’s Oil Sector: The Role of Western Oil Majors

With Venezuela’s state oil company in disarray, international oil companies will be the key to tapping the country’s oil resources. The Inter-American Dialogue interviewed eight large Western oil companies about the conditions that will determine how rapidly, and to what degree, they start or ramp up operations in Venezuela following a political transition.

Lisa Viscidi, Nate Graham

Reports ˙ ˙ Download Report

Do the Amazon Fires Point the Way for Future International Efforts to Combat Climate Change?

The fires in the Amazon expose the very heart of the greatest collective action problem that humanity has faced, and it foreshadows harder battles to come. The actions of each individual country have consequences for the global climate, yet perpetrators are loath to make sacrifices when others, especially those with equal or greater responsibility, are not doing the same. The fact that threats of economic punishment seem to have shifted Brazil’s behavior suggests that a similar approach could be taken to address climate change on a larger scale. But it will not be easy, especially where the biggest emitters are concerned.

Lisa Viscidi, Nate Graham

Articles & Op-Eds ˙ ˙ Foreign Policy

Brazil’s Energy Sector Needs Reform. Is Bolsonaro Up to the Task?

Revitalizing Brazil’s energy sector will be key to Jair Bolsonaro’s success as president – but so far, he’s had mixed results when it comes to getting reforms through Congress. Unless Bolsonaro learns to work with legislators and ease turbulence within his government, Brazil’s missing energy reforms will continue to threaten its economy, and its politics.

Lisa Viscidi, Nate Graham

Articles & Op-Eds ˙ ˙ Americas Quarterly

Video

Energy Resource Development in Latin America

The development of energy resources is an integral component of many of Latin America’s economies, from established producers like Colombia and Brazil to newcomers to the global energy market like freshly oil-rich Guyana. However, policymakers and energy companies throughout the region must devise solutions to a variety of fiscal, political, social, and environmental hurdles to ensure successful and sustainable projects, explained speakers at an Inter-American Dialogue event on May 10.

Nate Graham

Event Summaries ˙

Blackouts in Venezuela: Why the Power System Failed and How to Fix It

A lack of transmission-line maintenance may have been the immediate trigger for the power outage that left much of Venezuela in darkness on March 7, but it is a symptom of almost two decades of government mismanagement that has debilitated Venezuela’s power sector, draining its reserves of both human and financial capital and nudging it towards collapse.

Lisa Viscidi, Nate Graham

Articles & Op-Eds ˙ ˙ Real Instituto Elcano

Regulators and Companies Still Central to Mexico’s Energy Sector

Regulators and private companies will continue to play important roles in the development of Mexico’s energy resources despite President Andrés Manuel López Obrador’s focus on strengthening state-owned companies and enhancing “energy sovereignty” by reducing dependence on energy imports from the United States. This was the key message from speakers at “La nueva política energética de México,” an Inter-American Dialogue event in Mexico City.

Nate Graham

Event Summaries ˙

Secretary Gustavo Lopetegui Explains the Argentine Energy Market’s Competitive Edge

Argentina’s economic crisis and the fiscal belt-tightening it demands have led to gradual cuts to wholesale electricity and natural gas subsidies for consumers and a liberalization of energy prices over the course of Mauricio Macri’s administration. This has helped make Argentina more attractive as a destination for energy investment despite its economic tumult, said Argentine Secretary of Energy Gustavo Lopetegui at an event organized by the Inter-American Dialogue on March 14.

Nate Graham, Bentleigh Asboth

Event Summaries ˙

Reviving Venezuela’s Oil Industry Is Easier Said Than Done

Even if Juan Guaido or another opposition figure finally takes the reins and starts fixing the oil sector in Venezuela, it will take years before oil exports can provide the economic boost needed to pull the nation out of the morass. Venezuela’s oil industry has been severely damaged, and there are questions about the long-term economic viability of its oil fields. Venezuelans will likely be disappointed with the pace of the economic turnaround under any new government—a risk that poses a real threat to political stability. Expectations ought to be tempered.

Lisa Viscidi, Nate Graham

Articles & Op-Eds ˙ ˙ World Politics Review

Brazil Was a Global Leader on Climate Change. Now It’s a Threat.

Brazil should build on its impressive efforts in renewable energy, clean transport, and deforestation reduction. But as President Jair Bolsonaro assumes power, one of the world’s largest economies is on the verge of relinquishing its role as an environmental leader and retreating from the fight against climate change.

Lisa Viscidi, Nate Graham

Articles & Op-Eds ˙ ˙ Foreign Policy

USMCA and Latin American Energy Diplomacy Under a New US Congress

November’s midterm elections altered the balance of power in Washington, and the new Democratic majority in the House of Representatives, which will mean new chairs on key committees, will play an important role in shaping US energy diplomacy and energy markets in the Western Hemisphere. At an event co-hosted by the Inter-American Dialogue and the Institute of the Americas, panelists discussed how the new Congress will approach key issues affecting energy within the context of Latin America’s evolving role in US trade and foreign policy.

Nate Graham, Chris Kambhu

Event Summaries ˙

The Unfinished Business of Mexico’s Energy Reform

Mexico’s 2013 energy reform has led to pledges of almost $200 billion of private investment and renewable power auctions garnering bids to provide electricity at record-low prices. The Mexican government should continue to build on the successes of the reform, César Hernández, former Mexican undersecretary for electricity, and Jorge Castilla, managing director for Mexico at Accenture, said at an event hosted by the Inter-American Dialogue, the Embassy of Mexico, and the Energy Policy Research Foundation.

Nate Graham

Event Summaries ˙