Western Hemisphere 2021 Energy Landscape and Outlook

As for his administration’s prospective Latin American energy engagement, recalling Obama era policies, there appears to be a strong inclination to support increased investments in renewables, and, of course, the primacy of combatting climate change. Although yet to be fully defined, the new Biden administration’s policies will likely revert in many ways to what may be best described as the status quo under President Obama, which stressed policies of multilateralism and enhanced trade. This conventional wisdom is supported by the number of foreign policy and national security team members appointed to-date who previously served under President Obama. Again, in line with the idea of reverting to an Obama-era- based status quo, the Biden administration’s hemispheric plan will center around the expansion of foreign aid, mobilization/facilitation of private investment, anti- corruption and poverty reduction. Given his experience and as detailed in his campaign platform, the Biden Administration will prioritize aid to areas such as Honduras, Guatemala and El Salvador – the Northern Triangle – in an effort to ease the poverty and violence that encourages migration, but with the important context of anti-corruption parameters to fully tap the aid in question.

The Biden Administration and Implications for Latin America’s Energy and Climate Landscape By Jeremy M. Martin

On January 20, the incoming Biden administration assumes office. He and his team tasked with Western Hemisphere engagement face a region devastated by COVID-19, with most countries facing record- breaking economic downturns.

But, President-elect Biden is no stranger to the region. Yes, the region has changed, particularly in the wake of COVID- 19. However, he and his team’s depth of understanding of the historical, economic and cultural elements surrounding much of the policy discourse should not be underestimated. During his eight years as Vice President, Biden was the Obama administration’s de facto Special Envoy for Latin America and the Caribbean. He traveled to the region more than a dozen times and paid particular attention to issues in Central America and the Caribbean.

INSTITUTE OF THE AMERICAS

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