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Argentinian President Mauricio Macri claims that exploiting his country's oil and gas shale reserves the second-largest in the world is vital not only to lift the economy out of the doldrums, but also to provide a "bridge fuel" to support the climate transition.The Macri government has created a plan to attract $12 billion per year in fossil-fuel investments, predicting that revenues from oil and gas exports will surpass those from agriculture currently Argentina's leading export sector by 2027 .Argentina certainly has massive reserves still to be exploited: an estimated 19.9 billion barrels of crude oil and 583 trillion cubic feet of gas, concentrated in the Vaca Muerta shale formation. Extracting Argentina's shale resources would not only require dangerous and expensive hydraulic fracturing (fracking); exploiting them would result in around 50 billion tons of carbon dioxide emissions.Already, the economics of Argentina's dash for gas has resulted in massive transfers from households, businesses, and the state to fossil fuel corporations. Argentina's government, in line with a G-20 commitment, has been slashing subsidies for private gas and oil heating bills.Yet, when it comes to shale-gas ambition, Argentina is hardly alone.
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