QuoteThe U.S. Department of Energy calculated that combined, U.S. and Argentina’s shale gas and shale oil resources account for 32% of the world’s crude and 10% of its natural gas”
The Vaca Muerta shale gas deposit may have a huge beneficial effect on the economy, if managed correctly.
Up until recently most of the gas in this country was imported either by ship into Bahia Blanca and other ports or by pipeline from Bolivia. These imports have now been reduced by 20% and by next year reduced to around 50%. By 2020 it's expected that Argentina won't be importing any gas at all, but will in fact become a major exporter, thanks to Vaca Muerta.
It's interesting to note that the management of energy resources up until 2015 was handeled by Julio de Vido and Roberto Baratta, both now in prison and awaiting trial for corruption, although De Vido has already been sentenced in the Once trial.
It would be interesting to see if the turn around will be reflected in our gas bills, but don't hold your breath.
Further reading:
https://www.bbva.com/en/vaca-m…argest-shale-gas-deposit/
