Handbook of Energy Politics
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Handbook of Energy Politics

Edited by Jennifer I. Considine

Starting with the fundamentals of the global energy industry, Handbook of Energy Politics goes on to cover the evolution of capital and financial markets in the energy industry, the effects of technology, environmental issues and global warming and geopolitics. The book concludes by considering the future, including the lessons learned from history, where we are most likely to be heading and what steps we can take to mitigate potential energy risks. This Handbook will be an invaluable resource for upper level graduates and postgraduate scholars.
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Chapter 5: Low oil prices impact on Latin American non-conventionals

Alberto Cisneros Lavaller


Our subject matter brings attention to a historical perspective of previous oil price downturns. It focuses on three price downturns during the last 30 years. Such an analysis allows us to understand better the implications of the current downturn, particularly with respect to the development of certain oil plays in Latin America. The analysis also evaluates the impact of low prices on development of high cost and non-conventional sources of oil in selected Latin American countries, including deep water, extra heavy oil, pre-salt and shale oil. In this regard, “non-conventional oils” encompasses plays that are difficult and costly to develop in addition to the shale oil that often defines “unconventional” oil. In other words, this article considers “non-conventional oils” to include all oils other than conventional, light, easy-to-develop fields.  The article concludes with an uplift epilogue: prices are showing signs of recovery and in due course some of those ¨difficult¨ plays will be able to be developed.

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