U.S. Policy Toward Hydrocarbons in Latin America

July 2017, Vol. 244, No. 7

Recommendations for the New Administration Latin America holds the largest concentration of hydrocarbon reserves outside of the Middle East. The region’s official proved oil reserve figure was 340 Bbbls (20% of the world’s total) in 2015, second only to the Middle East with 803 Bbbls (47%), and more than the U.S. and Canada, with a combined total of 227 Bbbls (13%).1 Latin America also has one of the world’s largest estimated endowments of shale and other unconventional resources. Its natural gas endowment is not as relatively abundant, but the region has proved reserves of 280…

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