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In such scenario, two challenges are posed: 1. How to compensate for the energy demand that will not be cov- ered by oil if production is reduced. 2. How to avoid widening the gap between developed and poor coun- tries, in terms of wellbeing, progress, development, opportunities, and increased income, considering a scenario of very high-priced energy. • Uneven distribution of fossil energy reserves. Oil, coal, and natural gas reserves are unevenly distributed in the world. According to Radler (2005), the world’s proven oil reserves (crude oil, natural gas, liquids, condensates, and non-conventional oil) neared 1,293 billion barrels at the end of 2005 — 14.8 billion barrels (1.2 percent) more than the previous year’s calculation. Reserves are concentrated in the Middle East and North Africa (MENA), and together account for 62 percent of the world’s total. Saudi Arabia’s oil reserves are the world’s largest, and represent 20 percent of the total. Seven of the 20 countries with the largest reserves are located in the MENA region. In LAC, only Venezuela (5th place), Brazil (10th place), and Mexico (13th place) appear in the list of major oil producing countries. In the case of nat- ural gas and coal, the concentration is even more unevenly distributed, since Russia, Iran, and Qatar own together 56 percent of all proven natural gas reserves; likewise, 76 percent of coal reserves are concentrated in five coun- tries (China, Russia, the United States, Australia, and India). On the contrary, land (biomass), wind, and solar radiation are far more democratic and LAC is particularly favored by the presence of these natural resources. 108 SUSTAINABLE ENERGY IN LATIN AMERICA AND THE CARIBBEAN: POTENTIAL FOR THE FUTUREPDF Image | SUSTAINABLE ENERGY IN LATIN AMERICA CARIBBEAN
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