Energy in Latin America and the Caribbean

Venezuela – stranded assets in the Orinoco?

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. The danger, in a nutshell, is that the country, already having endured years of economic crisis, will remain locked into fossil fuel dependence at a time when the value of these assets may be beginning to decline. The country’s vast reserves, including those in the Orinoco tar sands, could potentially end up as stranded assets and never be developed.

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