Argentine think tank slams hydrocarbons bill

Respected Argentine energy think tank General Mosconi institute issued a statement urging congress to reject the government’s hydrocarbons promotion bill.

Argentina’s Peronist administration submitted the draft legislation earlier in the week.

Among other criticisms, the institute says the bill commits fiscal resources that the state does not have, has an institutional design that is not transparent, and is not compatible with key elements of the energy transition. The initiative creates inequities that will generate friction, while, crucially, a wider energy plan is also lacking, it adds.

The statement says: “Any attempt to gain fast-track approval of a project of this magnitude constitutes an act of economic, energy, environmental and institutional irresponsibility.

“The government avoided starting at the beginning: the presentation of a comprehensive energy plan where priorities can be presented and analyzed.”

A central objective of the bill is increasing oil exports to help boost the flow of dollars into the central bank’s reserves. One sector analyst predicts the bill will have little overall impact on output.

The government also says it will help create investment and jobs. 

Read the full General Mosconi institute statement (in Spanish)