América Latina

Energy for the Western Hemisphere: Revisiting Latin America’s Energy Scene before the 5th Summit of the Americas
Paul Isbell
Instituto Real Elcano - ARI 10/2009. 14/01/2009

Summary:
Growing energy demand in Latin America and the persistence of numerous
barriers to expanded supplies of both traditional and alternative energies, together with
the imperative to reduce carbon emissions and prepare for the effects of climate change,
pose significant challenges to the countries of the region. For years, strong demand, rising
oil prices and energy nationalism threatened sustainable growth, particularly in netimporting
economies, but now the credit crisis, economic recession and falling oil prices
threaten to destabilise some producer states and undermine the thrust towards
unconventional hydrocarbons, renewable energy deployment and effective policies to
ward off climate change. A collaborative, regional energy strategy, while difficult to
conceive and design, would likely be a positive contribution to the policy quest for greater
energy security and more rational energy stances in the face of climate change. Regional
energy collaboration in the Americas is also an area in which the US and Spain might
develop an effective partnership for the promotion of renewable energies.