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The continuing importance of hydrocarbons
Introduction
Latin America is home to vast reserves of oil and gas, with a long history of exploiting these resources both in partnership with foreign firms and through national oil companies (NOCs), which have become inextricably linked to fiscal stability, national sovereignty, and energy security in producing nations.
- Introduction
- Historical role of fossil fuels in the region
- 2010s drive towards energy transition
- Limits of clean energy drive in the region (difficulties financing decarbonisation efforts)
- Colombia case study: Petro pushing to phase out fossil fuels but failing
- Continued global demand for fossil fuels driving exploitation in producing countries
- Brazil case study: squaring conservation commitments with more exploration
- New capacity coming online: Guyana, Suriname, Argentina Vaca Muerta + more
- Venezuela case study: to what extent will the oil industry recover its former glory?
- Future plans - how is rightward political shift changing energy policies?
- Geopolitical considerations/potential influence of multilateral climate commitments
- Is the energy transition stalled? Can the transition continue domestically in fossil fuel-producing nations even as they maintain or grow exports?
- Conclusion: to what extent did the previous fossil fuel era end?