Oil and nationalism in Argentina: a history
This case study of Yacimientos Petroliferos Fiscales, the world's first state-owned oil company, traces the development of Argentina's nationalistic petroleum policy from the discovery of oil on state-owned land in 1907 to the present. The focus is on the period prior to 1930, when the institutions and ideologies that have shaped Argentine petroleum affairs became firmly established. A final chapter summarizes developments since 1930, with emphasis on the impact the Argentine experience has had on other oil-producing countries in Latin America. Prior to World War I, Argentine governments gave little attention to the development of petroleum resources, but the wartime economic crisis demonstrated to many prominent political figures the necessity of shifting from dependence on foreign capital and imported fuel toward greater economic self-sufficiency. A key aspect of this new policy was the founding in 1922 of the state oil agency, YPF, which gradually wrested control of oil resources from the provinces in order to establish a vertically integrated, national petroleum industry. Because of its power and influence, YPF survived the 1930 revolution, became the largest economic enterprise in Argentina, and emerged as the very symbol of national economic independence.
- OSTI ID:
- 6071368
- Country of Publication:
- United States
- Language:
- English
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