The Oil from Ipanema

Brazil has vast oil reserves, but can the Bolsonaro government get the energy to market? Returning guest Lisa Viscidi of the Inter-American Dialogue says reforms are already in place that will enable oil production “to take off.” The real obstacles are the financial stability of Petrobras, the shaky state oil conglomerate, and the monopoly that the state has on most aspects of energy production, delivery, and even retail sales. Lisa also comments on market worries about Mexican president López Obrador’s commitment to existing energy contracts, and the huge effect of sanctions on Venezuelan oil production.

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Led by the Energy Security and Climate Change Program, CSIS explores policies and regulations, commercial frameworks, and technological solutions that determine our energy future while balancing economic, environmental, and security priorities. In collaboration with leaders in industry, government, academia, and nonprofits, the Energy Security and Climate Change Program leads projects, events, and publications to help decision makers understand these challenging dynamics. Find the latest research from our scholars and CSIS events on this topic below.