Latin America Advisor
Energy Advisor
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How Will Javier Milei Change the Energy Sector in Argentina?
Libertarian Javier Milei, who takes office as Argentina’s president on Dec. 10, has promised sweeping changes in the country’s energy sector. // File Photo: Facebook Page of Javier Milei.
Argentine President-elect Javier Milei, who takes office Dec. 10, said during his campaign that investors should have “no doubt” that he would re-privatize state oil company YPF, which was nationalized in 2012. Milei has also indicated that he would abandon government efforts to create an industry to manufacture batteries for electric vehicles. What are the most significant changes that Argentina’s energy sector will see from Milei’s presidency? Will Milei be able to privatize YPF, and what would be the impact of such a move? What will Milei’s presidency mean for Argentina’s efforts to expand renewable energy?
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Jeremy M. Martin, vice president for energy and sustainability at the Institute of the Americas: “How does an anarcho-capitalist translate campaign rhetoric into policies for implementation? In the energy sector, it appears that Javier Milei and his team will favor dusting off the neoliberal playbook. Call it Washington Consensus, Argentina 2.0. As was the case during the neoliberal wave in the 1990s, reducing the role of the state in the energy sector is fundamental and will likely take a variety of forms. Perhaps most crucial will be the need and application of ‘shock therapy’ (his words) to the massively distorting subsidies for gas and power in the country. This is particularly true if the Milei government is serious about the level of fiscal and budgetary reforms it aims to make. The shock therapy points to the need for consumers to pay market prices for energy goods and services in the country, but particularly in…”
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A sister publication of the Inter-American Dialogue’s daily Latin America Advisor, the weekly Energy Advisor captures fresh analysis from business leaders and government officials on the most important developments in oil and gas, biofuels, the power sector, renewables, new technologies, and the policy debates shaping the future of energy in the Western Hemisphere and beyond. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.
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