Latin American national oil companies (NOCs) have made important advances in slashing emissions from their operations through techniques such as reducing flaring, improving energy efficiency, and injecting CO2 for enhanced oil recovery, according to a new report by the Inter-American Dialogue and the Inter-American Development Bank. Yet, progress in producing lower carbon energy sources for consumers has been sluggish, no Latin American NOC has committed to net zero emissions, and for some companies emissions are on the rise, the report finds.
Lisa Viscidi, Sarah Phillips, Paola Carvajal, Carlos Sucre
Rafael Pardo, Member of the Dialogue & former minister of defense of Colombia, has published a new book titled La guerra sin fin: Una nueva visión sobre la lucha contra las drogas, or “The War with No End: A New Vision for the Fight against Drugs.”
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.
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.
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.