Chubut Province
Patagonia's triple economy: 13% of Argentine oil, 21% of fish catch, whale-watching UNESCO site. ALUAR aluminum smelter. By 2026: diversification before petroleum decline.
Chubut Province concentrates Patagonia's three extractive economies—petroleum (13% of Argentine oil production, mostly offshore), fishing (21% of national catch), and wildlife tourism centered on the Valdés Peninsula UNESCO World Heritage Site. This triple resource base created one of Argentina's most prosperous but least diversified provincial economies.
The petroleum sector dominates GDP with nearly one-quarter of output from mining and refining. Comodoro Rivadavia (199,369 residents) anchors southern Chubut as the energy capital, while Puerto Madryn (97,625) hosts ALUAR, one of Argentina's largest aluminum smelters—energy-intensive industry leveraging petroleum infrastructure.
Fishing contributes substantial employment along maritime terminals where hake, pollock, salmon, flounder, squid, and scallops are landed and processed. The industrial infrastructure extends the value chain beyond raw catch, capturing processing employment that pure commodity export would not provide.
The wildlife economy peaks July-December when southern right whales (16 meters) arrive at Valdés Peninsula for breeding. September-October offers optimal viewing as animals "dance through the waves." San José Gulf became wildlife sanctuary in 1974, establishing early conservation framework. Orcas, elephant seals, and penguins supplement whale-watching revenue. A 2017 study documented successful industry development through stakeholder collaboration—regulated tourism coexisting with marine wildlife.
By 2026, Chubut tests whether the three-pillar economy can diversify further before petroleum declines, or whether resource dependency leaves the province vulnerable to commodity price cycles.