ABSTRACT
This article examines the oil production contracts in Argentina between 1958 and 1963. It investigates the material conditions of production, the forms of capital valorisation and the relationship between the oil sector and the rest of the economy. Based on some overlooked statistical sources, it shows that contractual production involved extraordinary profits steaming from the natural conditions of oil fields, i.e. ground rents. Second, it argues that part of this rent was transferred to local industrial capital by means of fuel cheapening.
KEYWORDS: Foreign investment; Desarrollism; Oil; Ground rent
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