In Patagonia, a true “Golden fever". The province of Neuquén is considered the new El Dorado, the Saudi Arabia of South America. They say that the largest oil reserves in the world are here, in Vaca Muerta. We are talking about unconventional reserves: fracking.
During 2015, almost 700 drilling rigs rose from the ground, now it is more than double. This should only be the beginning. The provincial government welcomes the planned investments to drill a total of 12,000 wells. El Dorado in Patagonia, or just a big bluff to delay the end of the era of fossil fuels.
In Vaca Muerta, the oil companies are doing hydraulic fracturing, fracking, without taking into account the health of people or Nature. Since fracking began, towns have been shaken by earthquakes.
But it is not the environmentalists or the Mapuches who can end fracking in Argentina, but the economists. The "gigantic unconventional oil reserves”Predicted by the US energy agency in 2011 turned out to be an excessive exaggeration, an exaggeration to attract investment and subsidies.
Experts have calculated this repeatedly in the international press, the New York Times announced the end of the boom; In the United States, many companies in the fracking industry have already filed for bankruptcy. The price of oil is too low, high investments don't pay off. And they don't even include in that calculation the price they would have to pay for environmental degradation.