Basicly these countries are in massive debt and have to repay their loans. The only realistic way of doing it is to extract fossil fuels.
Also having too much debt makes renewable investment less attractive. Generally speaking most green technologies are expensive in the begining and then make a good profit. Like you first have to pay for installig solar panels, but then they are nearly free to run. However fossil fuels are cheap to built initially, but then are expensive to operate due to fuel costs. If your country is in massive debt, it becomes much harder to make the inital investment into fossil fuels. Argentina for example should really be able to invest a lot into renewables as a relativly wealthy country. However bad financial policy has made that nearly impossible.
Basicly these countries are in massive debt and have to repay their loans. The only realistic way of doing it is to extract fossil fuels.
Also having too much debt makes renewable investment less attractive. Generally speaking most green technologies are expensive in the begining and then make a good profit. Like you first have to pay for installig solar panels, but then they are nearly free to run. However fossil fuels are cheap to built initially, but then are expensive to operate due to fuel costs. If your country is in massive debt, it becomes much harder to make the inital investment into fossil fuels. Argentina for example should really be able to invest a lot into renewables as a relativly wealthy country. However bad financial policy has made that nearly impossible.