Energy: Under Threat in the Western Hemisphere?
Recorded on March 31, 2006
Location: The Heritage Foundation's Lehrman Auditorium
The Western Hemisphere consumes some 30 million barrels of oil a
day, of which 20 million goes to U.S. consumers. As global
economies expand, experts predict that rising consumption will
bring about an energy crunch in 30 years, unless more hydrocarbon
reserves are discovered or new technologies perfected. In Latin
America, underground resources are the patrimony of national
governments, subjecting them to political as well as market forces.
In the last two years, Venezuelan President Hugo Chávez has
declared intentions to end his country's dependence on oil exports
to the United States and is even trying to unite Latin American
energy producers into an alliance under his leadership. Meanwhile,
Bolivia and Ecuador will be renegotiating contracts with foreign
producers in ways that may curtail further investment. If Peru
elects a populist president this spring, it could do so as well.
Our distinguished panelists will discuss U.S. energy policy, real
versus imagined threats, and what the United States should do about