For all its success, by the 1920s Argentina was not an industrialized country by the standards of Britain, Germany or the United States. A major hindrance to full industrialization was the lack of energy sources such as coal or hydropower. Experiments with oil, discovered in 1907, had poor results. Yacimientos Petrolíferos Fiscales, the first state-owned oil company in Latin America, was founded in 1922 as a public company responsible for 51% of the oil production; the remaining 49% was in private hands.
for all its success by the 1920s argentina was not an industrialized country by the standards of britain germany or the united states a major hindrance to full industrialization was the lack of energy sources such as coal or hydropower experiments with oil discovered in 1907 had poor results yacimientos petrolíferos fiscales the first state-owned oil company in latin america was founded in 1922 as a public company responsible for 51% of the oil production; the remaining 49% was in private hands