Despite the precipitous fall in global oil prices, Argentina has continued to follow its strategy of producing unconventional shale oil, although in the short term there could be problems attracting the foreign investment needed to exploit the Vaca Muerta shale deposit.
Even moderately well-informed analysts knew that the Brazilian economy was in dire straits as President Dilma Rousseff initiated her second term in office in January.
The new interoceanic canal being built in Nicaragua has brought good and bad news for the scientific community: new species and archeological sites have been found and knowledge of the local ecosystems has grown, but the project poses a huge threat to the environment.
Traditionally, falling oil prices have discouraged development of renewable energy sources, but clean energy is making steady progress in Latin America, according to regional experts.
The government of Argentina is building a marriage of convenience with China, which some see as uneven and others see as an indispensable alliance for a new level of insertion in the global economy.
With the current Millennium Development Goals (MDGs) expiring at the end of this year to be replaced by the Sustainable Development Goals (SDGs) which will set priorities for the next fifteen years, 2015 will be a crucial year for the future of global development.
"We ran down to the beach and found a black tide, whose waves didn’t make the sound of water, but the slurp of a thick paste,” said Alexandre Anderson, describing the oil spill in Guanabara bay in the Brazilian state of Rio de Janeiro which turned him into an activist and leader among the local small-scale fishing community.
Shale fever and the political chess among major oil producers and consumers have put OPEC in one of the most difficult junctures in its 54 years of history.
The boom in unconventional fossil fuels has revived indigenous conflicts in southwest Argentina. Twenty-two Mapuche communities who live on top of Vaca Muerta, the geological formation where the reserves are located, complain that they were not consulted about the use of their ancestral lands, both “above and below ground.”
“If I had to choose today I would stay back home, I wouldn’t come to look for work here,” said Josefa Gomes, who 30 years ago moved from Serra Redonda, a small town in Brazil’s semiarid northeast, to the city of Rio de Janeiro, 2,400 km away.
In Argentina they call it “yeil”, the hispanicised version of “shale”. But while these unconventional gas and oil reserves are seen by many as offering a means to development and a route towards energy self-sufficiency, others believe the term should fall into disuse because the global trend is towards clean, renewable sources of energy.
This small town in southern Argentina is nearly a century old, but the unconventional fossil fuel boom is forcing it to basically start over, from scratch. The wave of outsiders drawn by the shale fuel fever has pushed the town to its limits, while the plan to turn it into a “sustainable city of the future” is still only on paper.
Unconventional oil and gas reserves in Vaca Muerta in southwest Argentina hold out the promise of energy self-sufficiency and development for the country. But the fracking technique used to extract this treasure from underground rocks could be used at a huge cost.
With the expansion of the canal, Panama hopes to see its share of global maritime trade rise threefold. And many Panamanians hope the mega-engineering project will reduce social inequalities in a country where development is moving ahead at two different speeds.
Production here has skyrocketed so fast that for now the installations of the YPF oil company at the Loma Campana deposit in southwest Argentina are a jumble of interconnected shipping containers.