As Latin American countries reassess their energy policies in light of lower oil prices, there is an opportunity to apply lessons learned from the US experience to enact regulations that mitigate environmental risks, strengthen public support, and attract investment.
Given their close proximity to the United States, LAC countries are well-positioned to capitalize on the surplus of US gas exports and current buyer’s market.
The surge in US natural gas production as a result of the shale boom has implications for gas and LNG markets all over the world.
The surge in unconventional oil and gas production in North America has dramatically shifted energy markets in the Americas, with important implications for Latin America and the Caribbean. A new report by Lisa Viscidi, Director of the Energy, Climate Change and Extractive Industries Program at the Inter-American Dialogue, examines the factors behind rising oil demand and the growing deficit in refining capacity in Latin America, as well as the geopolitical implications of increasing US oil product exports to the region.
Argentina’s nascent shale industry is one of the most promising frontiers for unconventional oil and gas development outside of the US.
The US’ standing as the main consumer of Latin America’s oil exports is unraveling as China emerges as a major consumer of global oil supplies.
A boom in the production of shale gas and other unconventionals has prompted a rethinking of energy policy in countries throughout the hemisphere and the world.
Unless resource nationalism can be made compatible with providing incentives for significant foreign participation, it may be too early to start trumpeting a bonanza for Latin America.