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The continuing importance of hydrocarbons
Conclusion: to what extent did the previous fossil fuel era end?
In conclusion, fossil fuels never stopped being a vital part of Latin America’s energy landscape. Regional commitments to the energy transition were real and in many cases ambitious, and renewables have become a key contributor to electricity generation. Further growth is likely in this regard, as conditions in many countries are advantageous and the costs of adding new renewable capacity are lower than the equivalent thermal generation plants. But decarbonising other areas of the economy has been held back by a shortfall in investment, particularly in transmission and distribution. The domestic energy transition therefore remains incomplete, which is true around the world, not only in Latin America.
- 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?