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The continuing importance of hydrocarbons
Venezuela case study: to what extent will the oil industry recover its former glory?
Venezuela’s oil industry is a shadow of its former self after years of mismanagement and corruption, but the removal of former President Nicolas Maduro in January, followed by the rapid rapprochement with Washington under his successor President Delcy Rodriguez, has increased expectations in some quarters that the country will once again become a significant oil exporter.
- 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?