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Argentina’s Shale Energy Plans Run Into Trouble

By Benjamin N. Gedan, Christopher Phalen

Mapuche Indians are protesting President Macri’s play for foreign investment.

Argentina boasts some of the largest shale gas and oil formations in the world, and is well positioned to replicate the shale revolution that has transformed U.S. energy production over the past few years. Sensing opportunity, President Mauricio Macri has made attracting foreign investment to the energy sector a key part of his economic agenda since taking office in 2015.

So far, despite high labor costs and lingering doubts about Argentina’s long-term political stability, Macri has largely succeeded. ExxonMobil recently announced a $200 million investment to ramp up production at...

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