From this study, we conclude that the nationalistic policies in Latin America in response to the rising price of oil associated with slightly progressive tax systems and other economic reasons. Given this scenario, some countries have adopted more radical stance ,renationalizing or increasing the State’s participation in Argentina and Venezuela, following the example of Mexico. On the other hand ,Brazil,Colombia and Peru have shown an increase in production. Regarding Uruguay,it is not possible to do any analysis yet, since the model adopted in this country in very recent.