Experts say China's appetite for commodities helps insulate Latin America against the sluggish U.S. economy. Others point to ways the region can take advantage of the windfall through reforms and infrastructure development.
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In testimony before U.S. Congress, COA Vice President Eric Farnsworth says many countries in the Latin America lack the investment needed to maximize exploration, production, and distribution of their natural resources. Energy cooperation with Latin American countries should be part of the U.S. strategic agenda for the region.
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Bolivia struggles to maintain contractual commitments to Argentina and Brazil, leading to a recent leader’s meeting in Buenos Aires about the matter. In Venezuela, fallout continues following last year's nationalizations.
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At a weekend Buenos Aires summit, leaders talked about energy needs. As Bolivia falls short in meeting natural gas export demands, Argentina and Brazil may look to nuclear power as a solution.
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Pemex struggles with declining oil production and a push for reform in the Mexican Congress that would allow private investment. Meanwhile, Petrobras is seen as a model for how national oil industries should be run.
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President Rafael Correa gave oil firms a March deadline, offering three options in the renegotiation of contracts. But even as Ecuador's government wants greater control over its energy industry, it also seeks to boost investment.
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Brazilian President Inacio Lula da Silva made his first trip to Cuba since the island’s ailing leader Fidel Castro initiated a transition of power to his brother Raul. Lula’s visit brought an energy agreement and pledges of a large aid package.
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Bolivia predicts high foreign investment in its hydrocarbons industry, but won't meet 2008 export demands. Meanwhile, government officials and opposition leaders met this week to bridge a divide that led four provinces to demand autonomy.
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A discovery of oil reserves could bring Brazil into the fold of the world's major oil exporters, but challenges lie ahead. A hemispheric update examines the Brazilian model of energy security. Panelists at an AS/COA conference in São Paulo discussed Brazil’s goals for boosting its energy supply.
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