Energy in Latin America: Production, Consumption, and Future Growth

By Kang Wu; Cynthia Obadia | Go to book overview
Save to active project

region have been undergoing substantial reorganization, including downsizing, demonopolization, and privatization. Although privatization is not the sole nor best answer to every nation's problems, it is being vigorously pursued by some important energy producers in the region. Following the drastic reforms carried out by YPF of Argentina, other state oil and gas companies -- such as Petroecuador, Petroperú, Ecopetrol, Petrotrin, and to a lesser extent Pemex and PDVSA -- have begun to reduce the scope of the state monopolies in their oil and gas industries or to decentralize the decision-making power within their organizations. The process of market-oriented reforms has proved to be painful and tortuous for many governments. Yet it is believed that reforms are the only way to revamp the inefficient and money-losing national energy entities in the face of stiff international competition.

Third, following the adoption by many governments of new policies to attract foreign investment, the investment climate has been improved in most if not all countries. Substantial investment is needed in all areas of the region's energy sector, and many countries are welcoming private domestic and foreign capital. Gone are the days when the governments of the region's major oil and gas producers shunned foreign investment in the exploration and production of national resources.

Fourth, regional cooperation has gained new momentum as the market has rapidly changed and developed in Latin America. During the 1990s regional cooperation has become more attractive than ever, with the development throughout the region of common interests and mutually beneficial trade and investment opportunities. Multilateral agreements to promote Western Hemisphere regional cooperation -- such as Mercosur, the San José Accord, and the North American Free Trade Agreement (NAFTA) -- involve not only the Latin American countries but also the United States and Canada. In addition, bilateral cooperation is essential for the successful development of the hydroenergy resources in the region.


NOTES
1
See Wu ( 1993a), p. 681.
2
The regression model used in Zuazagoitia et al. ( 1991) is InFEC = a0 + a1lnPOP + (InPOp)2 + InGDPPC + (InGDPPC)2 + ε where FEC = final energy consumption; POP = population; GDPPC = per capita GDP ( 1980 US$); and ε = error term.
3
See Totto et al. ( 1992).
4
See British Petroleum ( 1993).
5
See Wu ( 1993a) for a detailed study of Asia-Pacific refinery upgrading.

-240-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited page

Bookmark this page
Energy in Latin America: Production, Consumption, and Future Growth
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen
/ 310

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?