Oil production has fallen to the same level as 20 years ago

In the last decade, Argentina has suffered an unprecedented setback in its oil production capacity. This has happened due to the systematic application of irrational regulations such as prohibitions, privileges, inadequate taxes and nontransparent subsidies.  In this context, the YPF-Chevron agreement is neither the “salvation” nor a “surrendering” to foreign interests, but the continuation of the bad results since the same logic of wrong regulations is still present. In order to reverse the failure and achieve positive results better rules are needed. 

(más…)