The article frames the development of Argentina’s shale reserves as crucial to the government’s efforts to accelerate growth. Indeed, Argentina has the second-largest shale gas reserves in the world and the fourth-largest reserves of tight oil, and President Mauricio Macri has prioritized attracting foreign investment to the sector. The government wants to end Argentina’s reliance on foreign energy and achieve self-sufficiency by 2022. It is also interested in becoming a leading exporter of liquefied natural gas. To this end, it is boosting the supply of domestic natural gas and increasing renewable energy capacity. These topics and others will be discussed at the G20’s Energy Transitions Working Group meeting in Buenos Aires on Feb. 22 and 23.
That said, Gedan and Phalen’s article omits several important issues that merit discussion: Argentina’s commitments under the Paris Agreement to reduce its emissions and the global carbon budget; climate risks, including the threat of stranded assets and growing divestment from fossil fuels; and the potential benefits from a greater emphasis on renewable energy, storage and efficiency measures.