With the Vaca Muerta rock formation reaching over 7.4 million square acres, Argentina boasts the second largest shale gas deposit in the world by some accounts. Currently, Argentina is importing more fossil fuels than it is producing, and the exacerbation of this trend will prove unaffordable in the long-run. Argentina’s government has framed natural gas extraction in Vaca Muerta as the key to ending this trend, but there are also some significant issues to consider.
Proponents of natural gas argue that taking advantage of this resource could significantly boost Argentina’s economy, but it is necessary to look at some of the major concerns regarding increased investment in the hydraulic fracking of Vaca Muerta. According to Elizabeth Tedsen, a Senior Fellow at the Ecologic Institute, “the government has courted foreign investment to begin fracking, which has drawn opposition from local governments, environmentalists, and indigenous groups who fear that the environmental damage of fracking will far outweigh any short-term economic and energy benefits.” Other important considerations include the uncertain nature of the natural gas sector, questions of national and provincial sovereignty in light of government deals with American corporations, and the need for effective regulation. Continue reading Pitfalls of Fracking in Argentina