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Latin America ponders nationalist energy policies
Publication year - 2006
Publication title -
oil and energy trends
Language(s) - English
Resource type - Journals
eISSN - 1744-7992
pISSN - 0950-1045
DOI - 10.1111/j.1744-7992.2006.310613.x
Subject(s) - latin americans , summit , nationalism , political science , state (computer science) , economy , energy security , foreign policy , economic history , economics , renewable energy , geography , politics , law , engineering , cartography , electrical engineering , algorithm , computer science
Latin American politicians who cheered the nationalist energy policies of Venezuela's President, Hugo Chavez may be having second thoughts following the nationalization of foreign oil and gas holdings by Bolivia ( see 'Gas and Power', May 2005 ). As well as affecting companies from the US and Europe, the move had a severe impact on another Latin American country, Brazil, whose state oil company, Petrobras, was Bolivia's largest producer of natural gas. Bolivia, in turn, represented the principal foreign asset of Petrobras, as well as being an important supplier of gas to Brazil. Petrobras announced that it was cancelling future investments in Bolivia, and Brazil's President, Luiz Ignacio Lula da Silva flew to Argentina for a crisis summit with other Latin American leaders to discuss the continent's energy security.