• 40 mins Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 1 hour VW Fails To Secure Critical Commodity For EVs
  • 2 hours Enbridge Pipeline Expansion Finally Approved
  • 3 hours Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 4 hours OPEC Oil Deal Compliance Falls To 86%
  • 20 hours U.S. Oil Production To Increase in November As Rig Count Falls
  • 22 hours Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 24 hours Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 1 day EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 1 day Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 1 day Aramco Says No Plans To Shelve IPO
  • 4 days Trump Passes Iran Nuclear Deal Back to Congress
  • 4 days Texas Shutters More Coal-Fired Plants
  • 4 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 4 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 4 days Chevron Quits Australian Deepwater Oil Exploration
  • 4 days Europe Braces For End Of Iran Nuclear Deal
  • 5 days Renewable Energy Startup Powering Native American Protest Camp
  • 5 days Husky Energy Set To Restart Pipeline
  • 5 days Russia, Morocco Sign String Of Energy And Military Deals
  • 5 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 5 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 5 days India Needs Help To Boost Oil Production
  • 5 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 5 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 5 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 5 days District Judge Rules Dakota Access Can Continue Operating
  • 6 days Surprise Oil Inventory Build Shocks Markets
  • 6 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 6 days Syria’s Kurds Aim To Control Oil-Rich Areas
  • 6 days Chinese Teapots Create $5B JV To Compete With State Firms
  • 6 days Oil M&A Deals Set To Rise
  • 6 days South Sudan Tightens Oil Industry Security
  • 7 days Over 1 Million Bpd Remain Offline In Gulf Of Mexico
  • 7 days Turkmenistan To Spend $93-Billion On Oil And Gas Sector
  • 7 days Indian Hydrocarbon Projects Get $300 Billion Boost Over 10 Years
  • 7 days Record U.S. Crude Exports Squeeze North Sea Oil
  • 7 days Iraq Aims To Reopen Kirkuk-Turkey Oil Pipeline Bypassing Kurdistan
  • 7 days Supply Crunch To Lead To Oil Price Spike By 2020s, Expert Says
  • 7 days Saudi Arabia Ups November Oil Exports To 7-Million Bpd
How OPEC Continues To Cheat On Its Own Deal

How OPEC Continues To Cheat On Its Own Deal

OPEC oil production has once…

Busting The Lithium Bubble Myth

Busting The Lithium Bubble Myth

Lithium demand continues to grow…

James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

More Info

Chile's Acceptance as a Developed Nation is Hampered by its Energy Problems

In 2010 Chile had a GDP per capita of $15,400, far more than most of its neighbours and a sign that it could be become one of the first Latin American nations to become a fully developed country. However it faces a major obstacle before it could hope to achieve this status; the fact that it has been struggling to fulfil its energy needs.

In September 2010, nearly 60 percent of the Chilean population found themselves without electricity due to a blackout caused by the inability to match the power supply to demand. The blackout left the country’s copper mines stranded, and brought the capital of Santiago to a halt; it also raised some serious questions about Chile’s energy future.

Chile relies upon hydroelectric sources to provide 40 percent of its electricity, which has led to drought-related power shortages. In light of this current struggle, the economic growth of the country is actually set to cause more dilemmas. Business Monitor International (BMI) have predicted that energy demand will increase from 58.8 TWh in 2011 to 70.5 TWh by 2015 and 87.8 TWh by 2020.

The President Sebastián Piñera has recently approved plans to develop a giant hydroelectric project, HidroAysen, which would see the construction of five plants in the pristine region of Patagonia. The project will cost about $3.2 billion and have a capacity of 2.75 gigawatts that will provide about 18 terrawatt hours a year.

However the HidroAysen project is attracting a lot of criticism and public outcry due to the fact that is will see approximately 5900 hectares of pristine wilderness flooded, endangering rare animals and habitats. A poll found that 74 percent of Chileans were against the project.

Piñera was hoping that the HidroAysen development will help Chile achieve 20 percent of its energy needs (about 5 gigawatts) from non-conventional renewable energy (NCRE) sources by 2020, a goal he set when he first took office in 2010.

The Electricity Development Advisory Committee (CADE), who were appointed to help advise the Chilean government the best ways to achieve their energy goals, said that the development of NCRE’s is too slow, and have supported HidroAysen as “a potential energy source highly relevant to the future matrix.”

It now seems that Piñera is backtracking on his promise and downgrading the ‘20 percent by 2020’ from a firm goal to an ambition, some believe it is because his government realises that it will not be able to reach the target so soon.

By. James Burgess of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News