For much of the last half-century, the U.S. has failed to engage the nations of resource-wealthy Latin America in any strategic manner. This lack of attention to our closest neighbors, and some of our strongest allies, is dangerously short-sighted given U.S. dependence on Latin America as a source for our energy. Currently, more than one-fourth of America’s imported oil comes from Latin America, which is estimated to hold 13.5 percent of the world’s proven oil reserves. In 2009, the U.S. imported 11 percent of its crude oil from Mexico, 9 percent from Venezuela, 3 percent from Brazil and 2 percent [...]
It was all smiles and friendly talk of brotherhood and shared destiny at the presidential palace in Caracas yesterday, as the leaders of Colombia and Venezuela met to reaffirm their commitment to fully restore diplomatic ties and put recent bitter disputes behind them. The two neighboring Andean nations began work to restore broken relations shortly after Colombian President Juan Manuel Santos took office in August. “We are determined that no one or anything will derail us,” said Santos during his second meeting with Venezuelan President Hugo Chavez since August. “We’ve gone from good-intentioned statements to concrete accords,” he added. The [...]
Oil and gas discoveries in the eastern Mediterranean are ratcheting up tensions in a region that already has its fair share of pernicious disputes. Rival communities on the divided island of Cyprus, as well as Turkey and arch-enemies Lebanon and Israel are staking claims in one of the world’s newest oil frontiers. The region’s deposits are minor compared to the Persian Gulf, but for small nations like Israel and Cyprus they hold substantial promise. But rather than providing an opportunity for stability through economic cooperation, the discoveries raise the specter of renewed conflict as the parties push ahead with deals [...]
