The transition to lower carbon-emitting fuel resources may give Latin America a new economic edge, according to energy expert Daniel Yergin.

yergin with book

In a conversation with NGI earlier this month, the vice chairman of IHS Markit and chair of CERAWeek said Latin America may see its fortunes rise as “enormous” amounts of copper and other earth elements will have to be mined to make products such as batteries. 

“In getting to a new map, it really came to me that we move from this era of Big Oil and Big Gas to Big Shovels,” Yergin said. “We need so much mining to support these ambitions…to try to move mining in the United States is pretty challenging.”

Chile is the world’s No. 1 copper producer. However, a newly elected president “wants to restrict the copper industry...