LatAm energy crisis still pending

For anyone following the news in Latin America over the past year, the story lurking in the background has been the severe lack of energy supplies. Just in the past week, rising oil prices convinced Caribbean leaders to sign a pact with Venezuela to work on oil production. Central American nations are panicking as they may face severe energy shortages. Ecuador's recent oil strikes threaten to turn them from a net oil exporter into an oil importer for a short time. All of Latin America is watching Bolivia very closely because it is the nearest supply of natural gas that may help ease some of their concerns. And Inter-American Dialogue notes that several governments in the region are looking for ways to lower prices so they do not face discontent in their countries.

Every week a few more stories appear hinting at a pending energy crisis in Latin America. If prices get too high, people take to the streets to protest. If supplies get short and citizens face blackouts, the governments may be held accountable. No government is sure what the tipping point will be, but they all know that they have a very small margin for error when dealing with energy issues.