Argentina's Oil Revolution: Vaca Muerta Shale Fuels Economic Hope

For a decade, Argentina’s governments have viewed the 7.5-million-acre Vaca Muerta, or Dead Cow, shale formation as an economic silver bullet. Since President Cristina de Kirchner nationalized YPF in 2012, Peronist administrations have viewed exploiting the Vaca Muerta as a means of funding excess fiscal spending while restoring the economy to growth. Regardless of rising hydrocarbon output, Argentina has slipped into its worst financial crisis since the 2001 economic collapse. Last year, inflation roared into triple-digits,…