Urgency and Betrayal: Three Attempts to Foster Private Investment in Argentina’s Oil Industry
Urgency and Betrayal: Three Attempts to Foster Private Investment in Argentina’s Oil Industry
This chapter focuses on three cases of incorporation of private investment into Argentina’s oil industry: Juan Domingo Peron’s attempt in 1954, Arturo Frondizi’s oil contracts in 1958–1962, and the industry’s reform in the administration of Carlos Menem in the 1990s. In an effort to explain the failed attempts to incorporate private capital into the industry and the reasons for the renegotiation and cancellation of contracts between the state and the oil companies, the chapter leaves aside the external framework in order to focus on internal issues. This chapter also explains changes in the roles of private investors—both domestic and foreign—in the Argentinean oil industry by focusing on events internal to Argentina. This approach differs from many studies of changes in business and government relations in oil and other mineral industries, most of which draw heavily on shifts in the international industry.
Keywords: incorporation of private investment, Argentina, Juan Domingo Peron, Arturo Frondizi, Carlos Menem, state, oil companies, private investors, Argentinean oil industry, international industry
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