Shannon K. O'Neil

Latin America's Moment

O'Neil analyzes developments in Latin America and U.S. relations in the region.

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Showing posts for "United States"

Spillovers From Falling Oil Prices: Risks to Mexico and the United States

by Shannon K. O'Neil
Mexico, Pemex, Oil prices Refinery workers walk at one of the facility's catalytic plants, used to convert heavy hydrocarbon crude oil fractions into lighter gasoline and diesel in Tula November 21, 2013. Mexico's oil refining industry, saddled for years with bloated costs, chronic underinvestment and generous government fuel subsidies, ought to be on the verge of a bright new dawn. A shake-up last month dismantled the state-run Pemex oil and gas monopoly, ending decades of stubborn self-reliance and potentially opening the door to foreign oil companies (Henry Romero/Courtesy Reuters).

Geopolitically, U.S. policymakers generally see high oil prices as bad and low oil prices as good for national interests. In a CFR Working Paper I coauthored with Michael Levi and Alexandra Mahler-Haug we find a sustained drop in oil prices will affect at least one of the United States’ closest trading partners and geopolitical allies negatively: Mexico. Read more »

Guest Post: Latin America, Energy Matrices, and the Future of Climate Change

by Guest Blogger for Shannon K. O'Neil
Latin America, Energy Matrices, Climate Change A Petrobras Oil platform is seen at Guabanara bay in Rio de Janeiro September 24, 2010. Brazilian state oil company Petrobras raised $70 billion on Thursday in the world's biggest share offering, giving the company the financial muscle it needs to tap vast offshore oil reserves (Bruno Domingos/Courtesy Reuters).

This is a guest post by Matthew Michaelides, an intern here at the Council on Foreign Relations who works with me in the Latin America program.

This week world leaders meet in Lima, Peru to discuss the framework for a new UN climate change agreement. The big issues for discussion include financing clean energy projects and implementing cap-and-trade policies, building on the release of a new report by the Intergovernmental Panel on Climate Change (IPCC) and a landmark climate change accord between the United States and China. Read more »

North America by the Numbers

by Shannon K. O'Neil
Oil Pipelines Pipelines carrying steam to wellheads and heavy oil back to the processing plant line the roads and boreal forest at the Cenovus Energy Christina Lake Steam-Assisted Gravity Drainage (SAGD) project 120 km (74 miles) south of Fort McMurray, Alberta, August 15, 2013. Cenovus currently produces 100,000 barrels of heavy oil per day at their Christina Lake tar sands project (Todd Korol/Courtesy Reuters).

How much do Canada and Mexico matter for the United States? Here are a few snapshots illustrating the importance of our combined global heft and influence.

  • North American countries are joined by 7,500 miles of land borders, among the longest in the world.
  • Though comprising less than 7 percent of the world’s population, Canada, Mexico and the United States produce nearly a quarter of the world’s GDP—some 20 trillion dollars.
  • Read more »

North America: Time for a New Focus

by Shannon K. O'Neil
Task Force on North America U.S. President Barack Obama (L) shakes hands with Canada's Prime Minister Stephen Harper (R) as Mexico's President Enrique Pena Nieto looks on after attending a news conference, at the North American Leaders' Summit in Toluca near Mexico City, February 19, 2014 (Henry Romero/Courtesy Reuters).

Today I am pleased to launch CFR’s Independent Task Force on North America. I have been working with co-chairs David H. Petraeus and Robert Zoellick, as well as some twenty other Task Force members and observers, over the past year to better understand the myriad issues facing Canada, the United States, and Mexico, and to make concrete policy recommendations for the U.S. government to strengthen the region. We find that while not always the most urgent of policy issues, North America is as vitally important to the United States’ future. Read more »

South-South Trade and Latin America

by Shannon K. O'Neil
South-south trade, developing south trade, inter-industry trade, Latin America, exports, intermediary goods Workers harvest soy in a farm during a demonstration of harvest machines in Correntina, Bahia March 31, 2010. Brazil's 2009/10 soybean production is estimated to be 67.5 million tonnes (Paulo Whitaker/Courtesy Reuters).

The economic rise of the developing south is one of the biggest trends of the last decade, accelerated by the 2008 global economic downturn. Since 2001 trade between these countries has grown 18 percent a year on average, outpacing global trade growth of 11 percent. Nearly half of all exports worldwide now originate in emerging markets—predominantly Asia. Read more »

Argentina Defaults

by Shannon K. O'Neil
A woman walks past a graffiti that reads "No to the debt payment" in Buenos Aires, July 28, 2014. Time is running out for Argentina to pay "holdout" investors
suing Latin America's No. 3 economy for full payment on their bonds, or reach a deal that buys more time to avert a default (Marcos Brindicci/Courtesy Reuters). A woman walks past a graffiti that reads "No to the debt payment" in Buenos Aires, July 28, 2014. Time is running out for Argentina to pay "holdout" investors suing Latin America's No. 3 economy for full payment on their bonds, or reach a deal that buys more time to avert a default (Marcos Brindicci/Courtesy Reuters).

Two days ago, Argentina failed to come to an agreement with its holdout creditors and defaulted for the second time in thirteen years. In this piece for Foreign Policy, I explain why this outcome is not so surprising. You can read the beginning of the piece below:  Read more »

Dos Naciones Indivisibles on Es la Hora de Opinar

by Shannon K. O'Neil
Es la Hora de Opinar. Es la Hora de Opinar.

Two weeks ago, I was down in Mexico for the launch of the Spanish-language version of my book, Dos Naciones Indivisibles: México, Estados Unidos, y el Camino por Venir. During my time there, I had the pleasure of talking with Leo Zuckermann and Javier Tello on FOROtv’s Es la Hora de Opinar. We had a lively conversation on Mexico and US-Mexico relations. You can watch it here. Read more »

Mexico as a Global Player

by Shannon K. O'Neil
Foreign Affairs Conference (Don Pollard). Foreign Affairs Conference (Don Pollard).

Last week, Foreign Affairs hosted a full day conference on Mexico, to talk about the country as a regional and global player. Panel topics included U.S.-Mexico cooperation, bilateral trade, regional immigration, and Mexico’s social inclusion and education system. You can find the full agenda here. Read more »

Two Decades of U.S.-Mexico Relations

by Shannon K. O'Neil

I had the great privilege of joining Eric Farnsworth, Vice President of the Council of the Americas and Americas Society, and Nelson Cunningham, President of McLarty Associates, yesterday at NDN for a wide-ranging talk on U.S.-Mexico relations. In our hour-long chat, we cover the last two decades of regional integration under the North American Free Trade Agreement (NAFTA) and offer our thoughts on what the next two decades could and should look like. You can watch it here or below. Read more »

Good Neighbors

by Shannon K. O'Neil
U.S. President Barack Obama addresses a joint news conference with Canada's Prime Minister Stephen Harper and Mexico's President Felipe Calderon in the White House Rose Garden in Washington, April 2, 2012 (Larry Downing/Courtesy Reuters). U.S. President Barack Obama addresses a joint news conference with Canada's Prime Minister Stephen Harper and Mexico's President Felipe Calderon in the White House Rose Garden in Washington, April 2, 2012 (Larry Downing/Courtesy Reuters).

President Obama will meet tomorrow with Mexican President Enrique Peña Nieto and Canadian Prime Minister Steven Harper for the North American Leaders’ Summit. The three leaders will take a look back on the last twenty years of regional integration, but even more importantly, they will have an opportunity to set the course for the next two decades. In this piece for Foreign Policy, I explain why working trilaterally for a North American future is more important now than ever before for the United States. Read more »