Sky-high gas prices and market volatility is weighing on Argentina. Despite being one of the most gas-rich countries in the world, Argentina is facing a massive fuel shortage. Years of underinvestment have left Argentina reliant on expensive fuel imports. A fuel shortage is causing political turmoil and social unrest in Argentina, and could even result in a food shortage as the South American nation’s grain transporters call for a strike in the face of sky-high fuel prices during the harvest season for soy and corn. A blow to Argentinian grain exports would have sweeping consequences both at home and overseas, as the country is a major exporter on a global scale. According to Reuters, “the second quarter of the year is the time when the bulk of soybeans and corn are harvested, which last year recorded exports of close to $30.5 billion, including soy oil and meal shipments.” Ironically, […]