IFLR speaks with Lisa Viscidi, director of the Energy, Climate Change and Extractive Industries program at the Inter-American Dialogue. Viscidi analyses recent developments in Latin America’s energy markets, particularly in relation to broadsweep energy market reforms in Brazil and Mexico.
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.”
Brazil is on track to double its oil and gas production following a series of energy policy reforms aimed at increasing investment.
On April 27th, The Dialogue, the Center for Strategic & International Studies (CSIS), and the Brookings Institution hosted an event with Argentina’s President, Mauricio Macri. In the event, Argentina: At a turning point, Macri addressed the country’s challenges and the current administration’s plans for the future.
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.
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.
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.
In the wake of the COP21 global climate talks, governments must shift attention to how they will actually follow through on the commitments made in Paris. One concept is central to achieving that goal – innovation.
Though the COP21 negotiations promise to be complex, they also present an opportunity for the region to address existing vulnerabilities.