A Latin American Model for Dealing with Rising Gasoline Prices
How Uruguay’s forward-looking policies on renewable energy and electric vehicles have mitigated the effects of the Iran war
As the ongoing war in Iran has pushed energy prices worldwide to near historic highs, Latin American countries have adopted markedly different approaches to cope with the ensuing crisis. While major oil producers like Brazil, Guyana, and Argentina benefit from increased exports and tax revenues that help to offset the cost of fuel subsidies, importers such as Chile and countries in the Caribbean and Central America are feeling the fiscal pressure. However, one net importer, Uruguay, is better placed to manage the current energy crisis than most. Over a decade of policies to encourage...
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