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Argentina's Vaca Muerta shale boom lifts growth hopes amid broader job losses
Argentina's Vaca Muerta shale oil and gas field is attracting workers with high wages. Mechanic Ramiro Ramirez, 25, now earns about ten times his previous salary as a cook while operating a gas compressor, commuting daily from Neuquén province to the dusty town of Añelo.
State‑run YPF projects that the formation will generate roughly $50 billion in export dollars by 2031, rivaling the country's agriculture sector. In 2024 Argentina recorded its largest energy trade surplus in nearly two decades and exported $11.1 billion worth of energy last year.
President Javier Milei has highlighted capital‑intensive sectors such as Vaca Muerta as central to his austerity‑driven economic plan. At the same time, manufacturing and construction jobs are disappearing across the country as import tariffs fall and federal infrastructure projects are suspended. IMF Managing Director Kristalina Georgieva praised Milei’s success in taming inflation but warned that better conditions are needed for businesses and households to obtain loans and mortgages. Economists note that while Vaca Muerta could be transformative for Argentina’s economy, it may not be sufficient to offset broader economic challenges.
Entities
Javier Milei · Kristalina Georgieva · Ramiro Ramirez · Vaca Muerta · YPF
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] President Javier Milei emphasizes capital‑intensive sectors like Vaca Muerta in his economic plan. jack1065.com · wsau.com · wtvbam.com
- [● 3 SOURCES] Ramiro Ramirez earned about ten times his previous salary as a cook while working as a gas compressor operator at Vaca Muerta. jack1065.com · wsau.com · wtvbam.com
- [● 3 SOURCES] Argentina logged its largest energy trade surplus in nearly two decades in 2024. jack1065.com · wsau.com · wtvbam.com
- [● 3 SOURCES] Economists say Vaca Muerta could be transformative for Argentina’s economy but question whether it is enough to offset broader economic challenges. jack1065.com · wsau.com · wtvbam.com
- [● 3 SOURCES] IMF Managing Director Kristalina Georgieva praised Milei’s inflation reduction but said Argentina needs better conditions for businesses and individuals to obtain loans and mortgages. jack1065.com · wsau.com · wtvbam.com
- [● 3 SOURCES] Argentina exported $11.1 billion worth of energy last year. jack1065.com · wsau.com · wtvbam.com
- [● 3 SOURCES] Manufacturing and construction jobs are being lost across Argentina due to Milei’s policies such as lower tariffs and suspension of infrastructure projects. jack1065.com · wsau.com · wtvbam.com
- [● 3 SOURCES] YPF projects that Vaca Muerta will generate $50 billion in export dollars by 2031. jack1065.com · wsau.com · wtvbam.com