All posts tagged: South America

Guyana: booming offshore oil production transforms it into the world’s newest petro state

Eight years after a consortium led by ExxonMobil announced the discovery of vast oil and gas deposits off the coast of Guyana in May 2015, this small South American country of 800,000 people is now poised to become the world’s fourth-largest offshore oil producer as well as a major fossil gas supplier. The billions of oil dollars pouring into this largely impoverished nation have transformed it into the world’s fastest growing economy. Experts worry that Guyana lacks the expertise and legal and regulatory framework to control the political and economic power of the international oil industry — let alone protect its own environment and rich biodiversity. With Exxon now predicting that Guyana will become a bigger producer than Texas, Michael Buchsbaum sheds a light on this nation’s oil boom and other media outlets sounding an alarm.

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Decarbonization Plan in Chile: An unambitious but dynamic process

Chile is facing important debates for its future. The South American country is immersed in a process to establish a new constitution to manage a multifactorial crisis situation to which the social-environmental crisis contributes heavily. In parallel, the country is committed to becoming carbon-neutral by 2050. Hence, the institutional framework, and the path to reach it, are key. Maximiliano Proaño reports

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