Chile-Mandatory reporting on potential oil & gas fracking potential-Argentina 3rd largest in the world-
Chile has about 10% of the shale fracking potential of Argentina---which makes it huge. The shale is twice as thick when compared to most shale deposits in the United States. Of course, more shale could create more problems. But, as it stands, the potential production from Chile is huge. In Argentina, apache has now brought on 79 wells from fracking. Chevron/Exxon are now moving in to drill even more. The price of natural gas is controled by the country, has been increased. The promise of $7.50 to Chevron/Exxon has brought an interest to drilling. The cross the border of exported natural gas to Chile is still curtailed. This of course is tied to the president of Chile and her decisions about the matter. But, with the once popular president now facing crowds of millions who want her removed---things could change. More oil and gas companies would move into Argentina, once she is removed. The present fear of nationalization is real. The main story for Methanex is the affect on natural gas use---wind farms, geothermal plants, and Bolivian natural gas pipelines does affect the future supply of natural gas production/consumption. The moves by Argentina affecting biodiesel is another issue to be considered, since Argentina is a world leader for this fuel. As of the present time, no fracking wells are in operation in Chile---but this could soon change. Published reports on the thickness of shale in Chile could bring big oil into the region. Of course, hot water into the ground does require new requirements ie equipment and settlement ponds that affect ground water. As for the Falkland Islands---no fracking in deep water. Argentina tries to keep hatred present in the people in order to stay in office. The blocking of the Magellan for trade from Chile to the Falklands could be lifted, in time. The potential for oil/gas in the Falklands is huge. Will the southern region be a major oil/gas producer? The answer is yes in time.