Chilean Natural Gas Price Crisis Averted

The chilean government had wanted to take away subsidies that kept natural gas prices down in the southern most part of Chile, called Magallanes, thus increasing prices by 17%. Magallanes is the southern most province of Chile which means it is the part of Chile closest to Antartica. So roads become Icy, temperatures become very cold, and in result citizens use more natural gas to keep there houses warm. This part of Chile depends on having low natural gas prices so that they can keep living in that part of Chile. This part of Chile has the highest amount of tourism do to the Torres del Paine National Park. The minister of mining and energy, Laurance Golborne, was sent to negotiate a settelement to the dispute, because there had been riots about the rising gas prices. He was able to knock the increase down to just 3%, with an increase in subsidies for costs of living for those living in poverty. The riots stranded 3,000 tourists at the National Park and shut down many trade routes in and out of the area, thus creating concern for Argetina, whose Tierra del Fuego province borders the Magallanes region.

http://www.bbc.co.uk/news/world-latin-america-12222392

Zach Howell