Posted on 09/30/2015 8:17:44 AM PDT by bananaman22
Argentina has often been held up as the next most likely location for a shale revolution, with some of the largest shale oil and gas reserves in the world.
Argentina could hold more than 800 trillion cubic feet of shale gas, more than the U.S., and second only to China, according to the EIA. Its shale oil resources, at 27 billion barrels, are also significant.
If Argentina is to succeed in developing its shale resources, the Vaca Muerta is where it will happen. The shale basin in central Argentina has been one of the most watched shale basins outside of North America, with significant interest and investment from major international oil companies including ExxonMobil, Royal Dutch Shell, Chevron, Wintershall, Total, and Russia’s Gazprom. Chevron’s $1.2 billion deal with Argentina’s YPF in 2013 raised expectations that the boom was not far behind. YPF says that the Vaca Muerta could require $200 billion in order for Argentina to erase its energy deficit.
(Excerpt) Read more at oilprice.com ...
Yeah another marxist state we can buy goods from instead of our own companies.
Everytime time foreign corporations invest, Argentina nationalizws them.
Argentina is a century long failure.
Don’t expect anything new.
Despite the low prices now, we forget the potential political instability of the Middle East, Nigeria and Venezuela, the biggest petroleum producers in the OPEC cartel. One wrong move politically and there goes a huge fraction of the world’s petroleum supply, sending the price of oil and natural gas rocketing skyward in no time flat.
Petro Ping.
Great following the law of supply and demand (sarc) I am sure gasoline prices just jump 10 cents because of your post!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.