How Will US Energy Policy Shifts Alter Relations with Latin America?
President-elect Donald Trump has vowed to overhaul US energy and foreign policy in ways that could have important impacts on energy relations with Latin America and the Caribbean.
President-elect Donald Trump has vowed to overhaul US energy and foreign policy in ways that could have important impacts on energy relations with Latin America and the Caribbean.
Though the COP21 negotiations promise to be complex, they also present an opportunity for the region to address existing vulnerabilities.
The collapse in global oil prices has led to a steep decline in investment in Colombia’s hydrocarbons sector and reduced the value of its oil exports, depleting a key source of government revenue.
The election of President Mauricio Macri may signal the start of a new era in Argentine energy policy and cooperation with the United States, but the new government still faces challenges to increasing oil and gas production and erasing energy subsidies.
The electrification of the transportation sector is crucial to reducing carbon emissions and tackling global climate change.
Latin America faces some of the toughest obstacles to halting energy emissions, but many countries in the region also have among the best opportunities to reach climate goals.
Crude oil exports from Latin America to the US have plummeted as oil production in the region has slumped while demand is on the rise.
Venezuela’s oil industry has been in decline for years due to mismanagement and lack of investment. But this year, the industry’s problems seem to have multiplied as a result of the sharp decline in global oil prices.
Cuts to Washington’s energy engagement could undermine the connections that help support U.S.–Latin American cooperation on issues from security to immigration. When it comes to weakening energy integration in the Americas, there are few winners.
Financial risks to companies and investors associated with climate change will become more important in the coming years as countries look to decarbonize their economies.
Across Latin America, the sustained decline in global oil prices has had a profound impact on economic growth, political stability and the viability of resource nationalism – when governments assert more control over the nation’s natural resources.
Mexico’s energy reform has led to a remarkable boost in investment, and the expected increase in the country’s crude oil production will strengthen energy security not only for Mexico but also at the regional level.
As Colombia begins the multi-year process of implementing last year’s peace accord, it is vital to balance environmental conservation with the need for sustainable economic development.
Brazil is on track to double its oil and gas production following a series of energy policy reforms aimed at increasing investment.
While the Trump administration’s “America first” policies are aimed primarily at giving higher priority to national security and economic growth for the United States, the White House’s approach will have impacts on energy relations with the rest of the hemisphere that should also be considered.