Latin America has vast energy reserves, but exploiting these riches is a slow process. Governments face a host of problems, ranging from deep-water drilling to crime syndicates, nationalisation, lack of infrastructure and the vagaries of world oil prices. In Brazil and Venezuela in particular, political difficulties are holding back progress, writes GIS guest expert Dr Noel Maurer.
Latin American energy reform hampered by politics
RARELY have politics and economics diverged quite as dramatically as they have in the Latin American energy sector.
The past year has seen radical institutional change - but the underlying economics mean that changes in production are ...