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Can a Peronist Capitalize on Argentina's New Energy Reality?

By Mark P. Jones, Jim Krane, Francisco Monaldi

Unlike in the Kirchner era, misguided policies now would swiftly disrupt shale production in Vaca Muerta.

Argentina is no doubt a risky place for foreign oil investors. Frequent political swings from the neoliberal right to the populist left, weak enforcement of contracts and property rights, endemic corruption and a volatile macroeconomic environment; in a region that has witnessed multiple waves of resource nationalism, Argentina stands out as a serial violator of debt and other obligations.

And yet, over the past few years, foreign investors have been willing to overlook these red flags and invest in Argentina’s oil and natural gas sector. Investment commitments in Vaca Muerta – the...

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