Energy storage is a class of technologies that is diverse, complex, and rapidly evolving. Policymakers in Latin America and the Caribbean will need to acquire a strong grasp of the technical characteristics and benefits of these technologies, the services they can provide, and the most relevant regional and power market applications for each technology, according to this report authored by experts from the Inter-American Dialogue and the Inter-American Development Bank.
Covid-19 has devastated the Peruvian economy. But as the country seeks to rebuild in the virus’s wake, it has a chance to focus on fighting climate change and creating a more sustainable development model. The extractive industries central to Peru’s economy are a source of underutilized revenues that could help seize this opportunity.
A medida que Colombia trata de recuperarse de la devastación económica que le ha generado el Covid-19, también debe esforzarse en el cumplimiento de sus metas en materia de cambio climático y la creación de un modelo de desarrollo más sostenible. Los ingresos fiscales procedentes de la producción de minería e hidrocarburos podrían utilizarse para cumplir con esos importantes objetivos.
As economies seek to rebuild in the aftermath of the Covid-19 crisis, there is an opportunity to accelerate climate change mitigation and adaptation and shape more sustainable economic models. Revenues from the extractive industries can provide crucial resources in this effort, according to a new report by the Inter-American Dialogue.
Power Grab: What Mexico’s State-Centered Electricity Policy Means for Trade, Climate, and the Economy
Over the past two years, the government of Mexican President Andrés Manuel López Obrador has sought to strip away central aspects of the 2013 energy reform that increased private investment in the power sector and return control of the sector to state utility CFE. These moves will reduce needed investment in the sector and lead to higher electricity costs for Mexican industry and manufacturing, affecting employment, trade, and Mexico’s ability to meet its clean energy targets, according to this new report by the Inter-American Dialogue.
This policy brief examines the regulatory changes in Mexico’s electric power sector made under the López Obrador administration. The brief analyzes the broader implications for Mexico’s economy and its trade and economic relations with its key trading partner, the United States. A full report will be forthcoming in October 2020.
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.
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?
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 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.
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.
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.
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.
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.
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.