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34 | OSCAR LANDERRETCHE wps/portal/rielcano/contenido?WCM_GLOBAL_CONTEXT=/Elcano_es/ Zonas_es/America+Latina/DT20-2006. 2. Total Gross domestic Product (GDP) measured at constant 2003 prices. Source: Central Bank of Chile. 3. Source: http://www.cne.cl/archivos_bajar/restricciones_gas/grafico_restricciones_ 2004-2008.pdf 4. In the 1950s and 1960s, “dirigiste” or statist economic policies referred to wide- spread state intervention in the economy. 5. See, for example, María de la Cruz Bayá C., de la Universidad San Simón de Cochabamba, “Integración Energética: Una incertidumbre Regulatoria,” Díkaion, año 20, No15, Universidad de la Sabana, Chia, Colombia, noviembre 2006. 6. Energy intensity at the macro level means the amount of energy per unit of GDP (measured in purchasing power parity [PPP] international dollars). 7. Ruiz-Caro provides significant information and analyses about energy integration efforts through the end of 2005. See Ariela Ruiz-Caro “Cooperación e Integración Energética en América Latina y el Caribe” (“Energy Cooperation and Integration in Latin America and the Caribbean”), CEPAL (ECLA), Serie Recursos Naturales e Infraestructura, 106, abril de 2006. 8. These include such organizations as OLADE, CIER, ARPEL, MERCOSUR, the Comunidad Andina de Naciones, the Sistema Económico Centroamericano, etc. Venezuela: Energy, the Tool of Choice RoseAnne Franco Natural Gas Reserves At end of 2006 (trillion cubic feet) Oil Reserves At end of 2006 (billion barrels) Argentina, 2 Other LatAm, 2.4 Mexico, 13.7 Other LatAm, 1.3 Mexico, 12.9 Venezuela, 80 Brazil, 12.2 Colombia, 1.5 Ecuador, 4.7 Peru, 1.1 Trinidad, 0.8 Argentina, 14.65 Brazil, 12.28 Colombia, 4.34 Bolivia, 12 Peru, 12 Trinidad, 18.71 Venezuela, 152.32 It is impossible to discuss energy in Latin American without addressing Venezuela. The country houses the largest hydrocarbon reserves in the region, registering some 80 billion barrels of proven oil reserves and 152 trillion cubic feet (tcf) of natural gas. So it is not surprising that the administration of President Hugo Chávez has decided to tap these vast hydrocarbon assets to move his ambitious regional energy integration and social development agendas forward. On the energy front, Chávez’s vision has both domestic and international aspects. First, the Venezuelan president is eager to assert Venezuela’s national sovereignty within the domestic energy industry, which was evident in the promulgation of the 2001 Hydrocarbon Law.1 Second, he has tasked Petróleos de Venezuela (PdVSA) with social and industrial development initiatives at home and abroad. Moreover, Chávez is committed to reducing Venezuela’s eco- nomic dependence on the United States and diversifying PdVSA’s client base.PDF Image | Energy and Development in South America
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