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2 | CYNTHIA J. ARNSON AND JESSICA VARAT INTRODUCTION | 3 inefficiency and insufficient investment on the part of the state oil compa- ny, Petróleos de Venezuela (PdVSA). According to energy analysts, produc- tion has reportedly not been able to recover from the firing of some 18,000 PdVSA employees in early 2003 and from continued underinvestment in maintenance and repairs.3 • Brazil is the world’s largest producer of sugar cane-based ethanol, and second in total ethanol production only to the United States, which produces ethanol from corn. By 2008, some 90 percent of all automobiles manufactured in Brazil ran on flex fuel.4 Technical challenges notwithstanding, new discoveries of oil in the Tupi fields off the coast of Brazil may make it the largest Latin American oil producer by 2012, surpassing Venezuela as well as Mexico, cur- rently the Western Hemisphere’s second largest producer.5 • Major discoveries of natural gas deposits in Bolivia in 1990 make that coun- try’s known gas reserves second only to Venezuela among the countries of Latin America. But in the wake of the re-nationalization of natural gas in 2006 and the vast increase in royalties demanded of foreign companies, overall for- eign direct investment in Bolivia dropped by 41 percent in 2007. In early 2008, Bolivian President Evo Morales acknowledged that the country would be unable to meet production levels sufficient to fulfill contracts for the export of gas to Brazil and Argentina, Bolivia’s two largest customers.6 • Although Latin America is a net oil exporter, three countries—Venezuela, Brazil, and Mexico—account for some 80–90 percent of the region’s oil pro- duction.7 As recently as 2006, Argentina, Colombia, Ecuador, and Trinidad and Tobago were also net energy exporters, but the countries of Central America and the Caribbean as well as several South American nations remain highly dependent on imports of both oil and natural gas. The dramatic rise in energy prices has allowed exporters to accumulate vast reserves and subsidize the below-market price of oil products used domestically while causing mod- erate to severe economic dislocations in other countries of the region that are net energy importers. • In 2006 the government of Ecuador dramatically increased the royalties charged to foreign oil companies and took over the holdings of Occidental Petroleum, the largest foreign investor in Ecuador. The government termi- nated Occidental’s contracts after alleging that it had transferred a 40 per- cent interest in one of its oil fields to a Canadian firm without properly informing the government.8 Overall, production by the state oil company, Petroecuador, as well as foreign firms has fallen steadily in recent years. Despite government assertions that foreign investment is still welcome in Ecuador, foreign direct investment declined by 34 percent in 2007.9 This report explores the ways that the strategic decisions of petroleum and natural gas producers primarily in the Andean region have affected their energy-dependent neighbors elsewhere in Latin America. It also aims to illustrate how and with what effect many governments in the region use energy resources as an instrument to promote national development, exert sovereignty, and further a broad range of domestic as well as foreign policy goals. The papers in this report were originally commissioned for a November 28, 2007, conference at the Woodrow Wilson Center co-sponsored by the Latin American Program and the Facultad Latinoamericano de Ciencias Sociales (FLAC- SO). Experts from Latin America and the United States addressed the dynamics of energy politics in individual countries with regard to a common set of questions: • How are energy resources used as an instrument of development and to further domestic and foreign policy goals? • What obstacles—political, economic, environmental, international—exist that complicate the use of energy or the availability of energy in pursuit of those goals? • What policies have contributed to energy cooperation or conflict in the region, and what medium- and long-term policies could enhance regional cooperation? REGIONAL RELATIONS In an introductory essay, OAS Secretary General José Miguel Insulza emphasizes the close relationship between energy security and development, noting the urgency of providing access to energy for the 15 percent of the region’s poor that still lack access to power and electricity. Demand for energy is likely to increase significant- ly over coming decades, Insulza argues, but the region is inefficient in its use and pays insufficient attention to environmental concerns. The imbalance between pro- ducers and importers of energy creates an imperative for greater cooperation and integration, but the politics of short-sighted self-interest typically prevail.PDF Image | Energy and Development in South America
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