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Many oil pumps at work in a field.
The Political Economy of Oil Production in Latin America
The 1990s witnessed a significant increase in investments in the oil and gas sector in Latin America. Recently, however, the region has experienced a new wave of resource nationalism, with increases in the government's take and state control. This recent trend is largely the outcome of the rise in the international oil price.
Osmel Manzano, Francisco J. Monaldi November 18, 2008