President Cristina Kirchner's plan to seize a majority stake in oil company YPF SA, owned by Repsol YPF of Spain, is causing diplomatic tensions with Spain and the European Union.
Retaliation from Spain and a foray into fracking are some of the challenges Argentina may have to navigate, writes a guest blogger.
In three months deep water drilling is set to begin in Cuban waters in the Gulf of Mexico, but the US embargo on Cuba could spell catastrophe should a repeat of the Deepwater Horizon spill occur.
In the past year, China has secured some $65 billion in regional deals. President Obama's current visit to Latin America is seen as a counteracting move.
China has signed a number of trade deals throughout Europe that could boost struggling economies, but some Europeans have misgivings about the possibility of a financial lifeline from China.
Italy and Spain depend on Libya for as much as 22 percent and 13 percent of total crude consumption, respectively, a supply not easily replaced on short notice.
Chinese Vice Prime Minister Li Keqiang is offering Chinese investment to a struggling Europe. In exchange, China wants improved trade ties with Europe.
The BP oil spill has begun to have international repercussions. Cuba is the country most likely to be the first non-US victim if the oil slick advances beyond Florida into the Caribbean.