Argentina: What Stands in the Way of Energy Revival

A dispute over natural gas prices could signal greater difficulties ahead for Argentina's government. An Argentine federal court ordered on July 7 that increases in the price of natural gas implemented by President Mauricio Macri be halted. Since the beginning of the year, the government has paid producers more for natural gas, pushing up costs for consumers. The hike is part of a plan to both reduce energy consumption in the country and spur more production by private firms. More broadly, the strategy is part of the administration's attempt to reverse Argentina's energy deficit, reduce energy subsidies, attract investors to the country's natural gas sector and eventually raise the government's share of energy revenue....