Shale Drilling Set To Take Off In Argentina

The economy in Argentina is best described as a “pendulum”, going from loose economic policies in the ‘80s to Washington-consensus liberalisation in the ‘90s and back again under the Kirchner regime. Since the current president Macri took office in December 2015, he has been reversing the policies of his predecessor and has focused on boosting the economy with free-market measures through eliminating currency controls and lowering utility subsidies. In March, the government also announced a US$7.50 per barrel subsidy on exported oil while Brent remained below US$47.50 per barrel to attract foreign investment.