Political changes are shaping the outlook in many of South America’s smaller and emerging oil and gas producers, including Guyana, Suriname, Ecuador, Peru and Bolivia. At a webinar co-hosted by the Inter-American Dialogue and the National Capital Area Chapter of the United States Association for Energy Economics (NCAC-USAEE), panelists discussed how political developments and the oil price decline are likely to impact producers in the region.
CGTN’s Asieh Namdar talked with Michael Shifter, president of the Inter-American Dialogue, about the top news stories in Latin America in 2019, and the outlook for 2020.
2019 has been a tumultuous year for South America. In recent months, mass protests have swept across several countries, including major oil and gas producers Bolivia, Ecuador, Peru, and Colombia. Continued political and social turbulence will likely contribute to stagnant oil and gas production growth in these countries. Conversely, Brazil and Guyana are on track to become the region’s largest sources of supply growth.
Top selections from the Latin America Advisor’s editorial staff of issues covering especially important developments during 2019, a remarkable year for Latin America and the Caribbean.
The largest tropical rainforest on the planet, the Amazon plays a critical role as a storehouse of carbon and mediator of the global water cycle and holds a greater share of the world’s known biodiversity than any other ecosystem. However, unchecked development is placing the Amazon under threat, pushing deforestation rates to near-record levels throughout the region.
On April 16, the Inter-American Dialogue had the honor of hosting President Lenín Moreno of Ecuador during his visit to the United States. President Moreno provided insight into the steps his government is taking to resolve the countries fiscal deficit and his administration’s work with multilateral institutions, among other topics.
El presidente del Diálogo Interamericano, Michael Shifter concedió una entrevista al programa Poder Latino de NTN24 conducido por Emiliana Molina donde analizo la visita del presidente ecuatoriano Lenin Moreno a Washington y lo que se podía esperar de la misma.
Intra-regional migration in the Americas has increased since the 1990s and doubled between 2000 and 2017. Ecuador’s transformation in the last ten years from a traditionally migrant sending to a migrant host and transit nation further illustrates this growing pattern of intra-regional migration.
On May 3, the Inter-American Dialogue hosted Ecuador’s Ambassador to the US, Francisco Carrión, and US Ambassador to Ecuador, Todd C. Chapman, for the first edition of Ambassador Dialogues.
On February 12, the Inter-American Dialogue hosted César Montúfar for an open discussion, moderated by Michael Shifter, about Ecuador’s current political climate. Montúfar is an academic, former member of Congress, a prominent political analyst, and the primary accuser in a recent trial against former vice-president Jorge Glas.
Ecuador’s President Lenin Moreno has maneuvered to break with his predecessor, Rafael Correa, and a legacy tinged with authoritarianism and corruption.
Lisa Viscidi, Director of the Energy, Climate Change and Extractive Industries Program, testified before the US House of Representatives Committee on Foreign Affairs on the subject of “Energy Opportunities in Latin America.”
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.
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.
As global oil prices collapsed over the last two years, regional governments have started to lose their leverage in the energy industry. To attract international investors, they must offer increasingly favorable terms, which means ceding more of their own control.