The recent rise in oil prices and the pressing need to rescue their economies have incentivized Latin American countries to develop their fossil fuels Latin America is lagging in the energy transition due to outdated policies and resource nationalism An abrupt devaluation of oil and gas assets could lead to a major socio-economic shock in several Latin American countries Early this year, the World Bank named Iraq, Libya, Venezuela, Equatorial Guinea, Nigeria, Iran, Guyana, Algeria, Azerbaijan, and Kazakhstan as the most vulnerable oil-producing nations due to their high exposure to the oil and gas sector and relative lack of diversification. Latin American economies are, however, not much better off due to their high reliance on oil and lack of a clear roadmap in the global energy transition. Venezuela, Ecuador, and Colombia are particularly dependent on oil exports and revenues. Bolivia and Trinidad depend heavily on natural gas. Meanwhile, the […]