ABSTRACT
This chapter examines how current energy policy in Latin America is characterized by short-term decisions meant to increase political support. It discusses the major oil-producing regions, Latin America is a significant contributor to world energy supplies and a major supplier to the US market. From oil in Mexico and Venezuela to natural gas in Bolivia and Argentina, much of the region is blessed with abundant reserves. It also discusses the thoughts on energy policy in the region and finding the balance between satisfying domestic needs and ensuring continuity in energy policy. Brazil presents an example of one Latin American nation that has generally adopted a successful energy policy and where recent oil discoveries may be pushing the government to increase state control of the oil sector in the hopes of capturing future revenue. Colombia's government sold many shares in the state-run oil company Ecopetrol to private investors while also forcing more competition upon Ecopetrol.
