John, this new report shows the hidden costs of fracking in the Vaca Muerta shale region in Argentina:
The study shows that the sum of all the hidden costs of Vaca Muerta – including the public health impacts and the damage caused by potential oil and gas leaks – could exceed US $5.6 trillion (13 times Argentina's current public debt of US $420 billion)1.
This is unacceptable. Instead of continuing to subsidize Vaca Muerta, the Argentine government should be using the money to finance the transition to clean energy.
We need to stand in solidarity with Argentines in their call to finance a clean energy transition and stop all fracking projects in Vaca Muerta. If you agree that Argentina must stop fracking and invest in clean energy instead, will you sign our global petition now?
Between 2016 and 2018 alone, oil and gas companies in Vaca Muerta received more than US $3.7 billion in government subsidies.
By transitioning subsidies from Vaca Muerta to clean energy, it would not only benefit local communities and the climate, but also save money and create jobs. According to the report, it would be 21% cheaper to invest in renewables and also create 120,000 more jobs by 2050.
Argentines are calling for their government to end all fossil fuel subsidies, and they need those of us across the world to show our solidarity.
In solidarity,
Team 350
1 - DeSmog
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PO Box 843004, Boston, MA 02284-3004
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350.org is a global movement that fights for a just and equitable world by stopping the fossil fuel industry from continuing to destroy our climate.