Research Library

The below-ground potential of Argentina’s shale oil and gas reserves is enticing for companies and investors — the country may have the second largest shale gas reserves and fourth largest shale oil reserves in the world. But the above-ground risk is a significant challenge for exploration and development. In this article, scholar David Mares examines the level of investment and activity in Argentine shale to shed light on the future pace of development of Argentina’s shale gas and oil potential.

Uruguay’s national elections on October 26 will determine more than who occupies the Republic’s presidency, vice presidency, and Senate and House chambers — voters will also determine the government’s political orientation. The occasion will force Uruguayans to choose between the progressivism of the Frente Amplio party — which government has promoted for the past 10 years — and a return to the conservatism of the opposition Blanco and Colorado parties.

The decade 2003-2013 was an exceptional one for Latin America in social terms, but less clearly so in economic terms. Growth slowed down significantly after the exceptional factors that fed the 2003-2007 boom came to an end. The possible unwinding of the super-cycle in commodity prices and, to a lesser extent, of the expansionary monetary policy of the United States, has added new challenges. But the major issue is the need to overcome the poor long-term economic performance that has characterized the region in the post-market reforms period, particularly by adopting active production sector development strategies.

With the recent approval of Mexico's energy reform and the current enthusiasm of South American governments to attract foreign investment in oil, one might be tempted to conclude that the tide of resource nationalism is receding in the region. Nevertheless, the cycles of investment and expropriation that have characterized the oil sector in Latin America are unlikely to go away.

The March 2013 election of Argentine Cardinal Jorge Bergoglio as the pope of the Roman Catholic Church has noticeably affected politics in Argentina, where 77 percent of the population is Catholic. By Pablo Ava, professor, Universidad de Buenos Aires School of Law, and 2008 Americas Project Fellow

In Latin America and the Caribbean, rural to urban migration over the past few decades has led to an important demographic transition. In 2010, the urban population was estimated around 79.4 percent and is expected to reach close to 90 percent by 2050. As people concentrate in urban areas, cities will have to manage and deal with increased social, economic and environmental pressure. Already, food security presents itself as a priority, given that millions of people in the region face hunger and malnutrition.

Governance of the natural gas sector in Argentina is at an incipient stage. The oil and gas sector developed under a centralized management structure in which a relatively insulated government imposed policy on the sector. That structure is well-developed, even if unstable and characterized by lack of credibility. The traditional unilateral government control of the sector is not appropriate for creating a favorable investment climate for the high-cost, high-risk investments required in shale gas or for managing the protests by civil society actors that have erupted against fracking. But the creation of governance as a replacement for government control is only beginning and faces many obstacles to its full development. The evolution of governance will have a major impact on the development of the country's shale gas resources. Consequently, the full development of Argentina's shale gas potential is problematic.

José Woldenberg, who served as the first president of Mexico's Federal Electoral Institute, traced the country's transition to democracy at an April 2014 lecture hosted by the Baker Institute Mexico Center. The center's Lisa Guaqueta and Kristin Foringer explain why Mexico's experience is distinct from similar processes elsewhere in the world.

The election of Argentine Cardinal Jorge Bergoglio as pope underscores the growing importance of Latin America for the Roman Catholic Church. Mark P. Jones, the Joseph D. Jamail Chair in Latin American Studies, discusses the significance of Pope Francis' election for the church's future.

This paper posits that the structure of fiscal federalism in countries like Argentina causes voters to reward fiscal expansion because they perceive that this extra spending at the margin is not financed by them, but rather by the nation at large.