Argentina's Vaca Muerta shale basin is emerging as a critical asset under President Javier Milei's administration, which is pursuing a liberal economic reform agenda. The basin produces light, sweet crude oil comparable to that of the Permian Basin in the United States, and its development is seen as a potential catalyst for economic growth ahead of the 2027 elections. Milei's government aims to leverage Vaca Muerta to attract investments and deliver tangible economic results to maintain political support. Oil companies have secured a $2 billion credit facility to finance a major pipeline project in the region, underscoring the scale of ongoing investments. Despite these advances, concerns remain about Argentina's external accounts and the sustainability of Milei's strong peso policy, with some analysts noting a rapid deterioration in the current account and missed International Monetary Fund (IMF) reserve targets. Opposition figures, including Senator Martín Lousteau, have criticized the government's economic approach, describing it as relying on a "plan platita en dólares" (a dollar cash plan) and pointing to an undervalued exchange rate and selective dollar accumulation strategies. The development of Vaca Muerta is viewed as a geopolitical and economic gamble that could either bolster Argentina's fragile economy or pose risks if expected gains are not realized in time.