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Energy in Latin America and the Caribbean

The energy transition in Latin America and the Caribbean
Is it ‘game over’ for fossil fuels and if so, what are the implications for Latin America and the Caribbean (LAC)? The ‘end of oil’ has frequently been predicted but seems unlikely in the short term...
BP’s Energy Outlook published in September 2020 notes that the era of coal dominance (measured by its share of primary energy usage) ran from before 1900 to around 1960...
Despite this, some analysts question whether the energy transition will really be as important as expected...
Over the last decade significant progress has been made to develop renewable energy at a global level...
Globally, there is growing interest in developing green hydrogen, since it can work simultaneously as a zero-emission fuel, but also as a store of energy, useful in smoothing out the intermittent power supply from renewable energy sources (which have downtimes when winds are not blowing or the sun is not shining)...
Uruguay’s good ETI score reflects over a decade of government policies focused on developing renewables...
Mexico currently stands out as a country that rejects the need for an energy transition and, instead, wants fossil fuels to remain at the centre of its energy mix...
Brazil is widely seen as an environmental “bad boy” in the international press, some would say deservedly so, because of its current government’s refusal to take more active measures to try and halt or roll back deforestation in the Amazon...
Venezuela, which has the largest hydrocarbons reserves in the world, could potentially be one of the biggest losers from the energy transition in Latin America...
Although the Colombian economy is more diversified than its neighbour Venezuela, it is still vulnerable to any sustained global move away from fossil fuels...
On various criteria Chile is at the forefront of the LAC energy transition...
One interesting theme for governments and energy industry players is the concept of a post-pandemic green recovery...
Predicting the exact shape of the energy transition in Latin America is difficult, as so many factors of uncertainty are involved...

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