The Geopolitical Role of the Energy Sector in the Development of Latin America: An Analysis Using Wallerstein’s World- Systems Theory

Abstract

Energy has habitually played a crucial role in overall geopolitics, assisting the rise of the alliances in the European Community. Worldwide order in contemporary history has depended on the energy source. The geopolitics of energy have lately gained momentum among scholars and politicians specially in Latin America. This research provides a critical understanding of current affairs, geopolitical structures of energy and agents in the Americas and aims to study the geopolitics of north-south energy relations. Latin America has large reserves with state-owned enterprises. There have been difficulties in separating the various roles of the state and providing effective regulation of the markets. This has generated policies based on privatization and liberalization, which has been intensified by COVID-19. This proposal uses the geopolitical analysis and Wallerstein’s framework to discuss the production and the consumption of energy in Latin American countries. Our analysis suggest that the renewable energy and bioethanol represent an opportunity for future regional integration and geopolitical peace in the Americas.