Politics, Business & Culture in the Americas

Energy & Commodities

 

Peña Nieto Proposes New Energy Rules

Mexican President Enrique Peña Nieto proposed new rules yesterday aimed at increasing oil production and boosting the economy. The proposed legislation includes the creation of eight new laws and the modification of 13 existing laws. Mexican Secretary of Tax, Luis Videgaray, and Secretary of Energy, Pedro Joaquín Coldwell, have said that, with the exception of … Read more

 

Argentina to Pay Repsol for YPF Nationalization

The lower house of Argentina’s congress agreed to pay Spanish oil company Repsol $5 billion in bonds in compensation for its expropriation of the company’s 51 percent share of Argentine oil company Yacimientos Petrolíferos Fiscales (Treasury Petroleum Fields—YPF). After YPF was nationalized in 2012, Repsol’s share in the company was seized and reduced to 12 … Read more

 

Colombian Oil: Scraping the Bottom of the Barrel

With production rates continuing at their current level Colombia will run out of oil within 6.9 years unless new, major oil fields are found. As of 2013, the country had 2.3 billion barrels of proven crude oil reserves, ranking fifth after Venezuela, Brazil, Ecuador, and Argentina in total reserves in South America. Most of these reserves … Read more

 

Round Zero and the Mexican Energy Sector

Monday marked the conclusion of “Round Zero,” a yardstick in a process initiated as part of the Mexican energy reforms. During Round Zero, Petróleos Mexicanos (Pemex), the Mexican state oil company, sent regulators a list of which fields it wants to keep for its own development. Pemex currently owns and operates all oil and gas … Read more

 

North American Energy Integration and the NALS

The three North American leaders—Canadian Prime Minister Stephen Harper, Mexican President Enrique Peña Nieto and U.S. President Barack Obama—will meet today in Toluca, Mexico. Obama’s agenda is set to focus on trade, education, border security, and drug trafficking. Yet the elephant in the room is the Keystone XL pipeline, whose approval by the United States … Read more

 

Monday Memo: Turf Battle in Michoacán — Venezuelan Media — Manaus Stadium Death — Keystone Pipeline — Guatemala Massacre

Knights Templar and Vigilante Groups Clash in Apatzingan, Michoacán: Vigilante self-defense groups drove into the town of Apatzingan, Michoacán on Saturday, bolstered by support from local police and army personnel. The town, previously a command center for the Knights Templar drug cartel, has been caught in a bloody battle since the self-defense groups launched an … Read more

 

Approving the Keystone Pipeline Project

If there is one issue that has pitted the Canadian government against a U.S. administration in recent years, it has been the Keystone Pipeline XL project.  The project is meant to transport crude oil from the Alberta oil sands to the Gulf of Mexico.  Final approval of the trans-border pipeline rests with President Obama. It … Read more

 

Mexico’s Energy Reforms Are Good for Canada

Reforms to Mexico’s energy sector were signed into law late last year. The legislation proceeded rapidly from President Enrique Peña Nieto’s announcement of the reforms in August, to the negotiations among the major political parties during the fall, to voting in both houses of Congress, resulting in a majority of the 31 state legislatures changing … Read more

 

Argentina Invests in Power Grid After Blackouts

Argentine government officials formalized a $500 million plan to improve the distribution of electricity in Buenos Aires this week, but remained strongly opposed to raising utility rates in order to alleviate the city’s ongoing energy crisis. The measure comes after the hottest heat wave on record prompted a series of power outages, leaving hundreds of … Read more

 

Energy in Mexico: The Politics of Reform

While Washington has struggled with political gridlock, its southern neighbor has achieved notable legislative success over the past 12 months—thanks to a negotiating mechanism called the Pacto por México. Established soon after President Enrique Peña Nieto took office in December 2012, the mechanism was responsible for a series of major reforms in Mexico that had … Read more

 

Cuba Reforms Policy on Car Sales

The Cuban government announced yesterday that it will be loosening restrictions on the purchase of new and used foreign-made cars. Under the new policy, Cubans will no longer need a permit issued by the Transportation Ministry to purchase cars from state vendors. Until 2011, Cubans could only buy and sell cars made before 1959. But … Read more

 

Caribbean Energy Security is Good Business

With the exception of gas-rich Trinidad and Tobago, the 14 other countries of the Caribbean Community (CARICOM) are energy importers. In fact, 93 percent of the region’s energy needs are met by oil imports, which average 13 percent of GDP. Venezuela is the main supplier of oil to the Caribbean through the PetroCaribe agreement, formed … Read more

 

The Outlook for Pemex Reform

This month, Mexico’s Congress is debating the long-anticipated reform of Pemex, the country’s state-owned oil company. This reform comes at a critical moment for Mexico’s energy industry, as oil production has declined steadily since 2004, and Pemex will need to more than double its investment to reverse the trend. The latest energy reform legislation in … Read more

 

Blackout Hits Venezuela

In the latest in power outage to hit Venezuela this year, a blackout on Monday night left a large portion of Caracas in the dark, with other parts of the country affected as well. Outages were also reported in the states of Vargas, Aragua, Miranda, Lara, Zulia, Carabobo, and Falcón. For many in Caracas, the … Read more

Sign up for our free newsletter