Word: venezuela
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Dates: during 2000-2009
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...Bush's biggest south-of-the-border PR problem is economic. Even before the start of the November 4-5 Summit, devoted to combating poverty and creating jobs, Argentina, Brazil, Venezuela and other Latin nations banded together to nudge Washington's Free Trade Area of the Americas (FTAA) proposal off the agenda. The move, which has angered the Bush Administration, reflects growing skepticism in Latin America over the virtues of free-market reforms, which many believe have simply widened the chasm between rich and poor in a region that already displays the world's worst disparities in wealth...
...shield against the growing encroachment of China and the European Union into Latin America. Chavez has made no secret of his desire to undercut U.S. hegemony in the region by forging a new Latin American economic and political integration. Oil may be his chosen weapon to achieve that goal: Venezuela, which holds the hemisphere's largest oil reserves and which supplies almost 15% of the U.S. needs, is forming regional energy partnerships that offer cash- and fuel-strapped neighbors cheaper access to Venezuelan oil. And he and other Latin governments are ratcheting up trade with non-traditional partners like China...
...past nine years, Tim Padgett has covered Latin America for us, first from Mexico City and now from his base in Miami. He has covered the sudden crises (Elián González comes to mind), the outsize personalities (Hugo Chávez of Venezuela is but the most recent example) and the long-running tragedy that is Haiti. He has chronicled the rise of the NAFTA generation in Mexico, the cocaine guerrillas in Colombia and the crusade of Cuban dissident Oswaldo Paya as he struggled for a national referendum on Castro's rule. We're delighted that for this work...
...could decide that you have already caught most of the fish in the pond. Although increased oil prices (which ought to spur investment in oil production) and new technology help, they can't work magic. Recent discoveries are modest at best. The oil sands in Canada and Venezuela are extensive, but the Canadian operations to convert the deposits into transportable oil consume large amounts of natural gas, which is in short supply...
Outside our borders, Alberta's tar sands contain 180 billion bbl. recoverable with current technology, and Calgarians are pumping that oil today. A total of several trillion barrels of oil soak the sands of Canada and Venezuela alone--a century's worth at the current global rate of consumption. Then there are methane hydrates. The U.S contains some 30 trillion bbl. worth of those frozen hydrocarbons off the shores of Alaska, the continental coasts and under the Rockies. There's little doubt they too can be extracted economically. If we try, we'll certainly find cheap ways to transform North...