NEW WINDS IN ENERGY INDUSTRY
In recent years we have witnessed an increase in the oil barrels production worldwide (OPEC, USA, Russia, Brazil, Canada, and Kazakhstan), the highest registered since 1994.
With regard to natural gas, prices also fell, due to a significant decrease compared to previous years, in one of the main industry actors (USA). It is important to note that although the number of natural gas drilling equipment was reduced by almost half, the task of obtaining gas was carried out in such an efficient way that production remained at the same or higher levels. In short, in the world there is more production than the supply required, which leads to the decline of value and the reconversion of industry. International analysts broadly agree that major oil producers are unlikely to reach an agreement to limit pumping and, given the persistence of a global oversupply of the resource, would increase the volatility in crude oil markets. Therefore investment in new oil production would likely fall for the third consecutive year. Given this global scenario, Argentina is plunged into a deep energy crisis, either because of lack of investment or because of misguided strategic policies, which led us to ally ourselves and depend on actors, who today have lost specific weight in the world market. Argentina’s challenge to level its energy trade balance is to have sufficient intelligence to develop strategies that aim to increase production of conventional and renewable resources in the short and medium term, while the development of non-conventional ones continues, maximum return in the long term, mainly thinking about the potential of Vaca Muerta and other large shale deposits located in the country. We must rethink our energy matrix, which was almost monopollically built by traditional energies, particularly oil and gas, with strong support in alliances of the latest government administration with some countries of the region, such as Bolivia and Venezuela.
But what is important and encouraging is that we see actions of government, politicians, scientists, companies, and a majority consciousness in the citizens, tending to materialize this change of energy matrix. With the firm decision to comply with Laws 26,190 and 27,191 and Decree No. 531/2016 to increase participation in the energy matrix of renewable sources, is that the first public tender of the RenovAr program, which aroused a strong interest in investors and entrepreneurs, so much that is the government’s intention to make a second bid. President Mauricio Macri has personally negotiated with the main players players to launch the Vaca Muerta Reservoir Exploitation Plan that renews hopes in the sector.
The generation distributed from renewable sources, whose regulation is being discussed by the National Congress and which is almost a fact in several provinces, implies a revolutionary change in the model of generation, sale, distribution, and consumption of electric energy. From the Instituto Tecnologico de Buenos Aires (ITBA) there are some important developments in the management of hydrogen, which promises important energy and environmental solutions. Dr. Eugenio Otal and Dr. Manuela Kim, members of the Porous Materials Division of UNIDEF-CITEDEF-CONICET, are working on a new family of hybrid polymers called Metal Organic Frameworks or MOF. Its characteristics make them very versatile and with possible applications in the energy and environmental area. I invite you to read the Magazines notes that will provide you important information and renew our hopes in the future.