Not Logged In Log In   Sign Up   Points Leaders
Follow Us    4:15 AM

GasBuddy News Article

44
votes
Argentina Seizes 51% of Oil Producer YPF to Stem Imports

Bloomberg -- Argentina’s seizure of YPF SA (YPFD) threatens to take the country further away from its goal of energy self-sufficiency as investors weigh the increased risk of expropriation in South America’s second-biggest economy.

President Cristina Fernandez de Kirchner named Planning Minister Julio De Vido to head the oil company with immediate effect and is sending a bill to Congress to take a 51 percent stake after oil imports doubled. Argentina, which wants to produce enough crude to match consumption, risks becoming “unviable” as a country because of the surge in imports, Fernandez said yesterday.

Read the Full Article

Submitted Apr 18, 2012 By: Mudsprings
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Argentina Seizes 51% of Oil Producer YPF to Stem Imports Post a Reply Back to Topics
REPLIES (newest first)
First
1234
Next Last
Profile Pic
rjhenn
Champion Author Des Moines

Posts:22,614
Points:2,257,260
Joined:Aug 2005
Message Posted: Apr 20, 2012 1:28:38 PM
 Ignore rjhenn Report Abuse

vollee - "He already did it with Gov'mint Motors and the giveaway of Chrysler to Fiat."

Say what?
Profile Pic
goldrose1
Champion Author Cleveland

Posts:11,076
Points:1,950,580
Joined:Feb 2005
Message Posted: Apr 19, 2012 10:12:57 PM
 Ignore goldrose1 Report Abuse

And this after Americas conference.
Profile Pic
pbug101
Champion Author Georgia

Posts:2,586
Points:605,000
Joined:Aug 2011
Message Posted: Apr 19, 2012 8:32:38 PM
 Ignore pbug101 Report Abuse

ok
Profile Pic
puinsai808
Champion Author Honolulu

Posts:3,703
Points:755,005
Joined:May 2011
Message Posted: Apr 19, 2012 10:15:40 AM
 Ignore puinsai808 Report Abuse

Nobama would love to mimic them.
Profile Pic
nb52
Champion Author Grand Rapids

Posts:7,920
Points:1,574,550
Joined:Nov 2008
Message Posted: Apr 19, 2012 6:31:41 AM
 Ignore nb52 Report Abuse

Ditto vollee!
Profile Pic
DandyDapple
All-Star Author North Dakota

Posts:715
Points:330,920
Joined:Sep 2008
Message Posted: Apr 19, 2012 12:22:33 AM
 Ignore DandyDapple Report Abuse

OMG 2012 ...
Profile Pic
vollee
Champion Author Cincinnati

Posts:1,914
Points:787,345
Joined:Dec 2007
Message Posted: Apr 19, 2012 12:15:30 AM
 Ignore vollee Report Abuse

GordoM hit the nail on the head. Remove incentives for companies to invest and prosper and they will not invest. Those economic idiots that think the USA should do the same, would be best advised to take Economics 101 and actually understand and pass the course. Nationalizing the oil industry would reduce production & supply and double prices within a few months.

And we know BHO would LOVE to do the same. And he would be stupid enough to do it. He already did it with Gov'mint Motors and the giveaway of Chrysler to Fiat.



[Edited by: vollee at 4/19/2012 12:17:32 AM EST]
Profile Pic
defiancegasman
Champion Author Ohio

Posts:7,099
Points:1,327,520
Joined:May 2006
Message Posted: Apr 18, 2012 11:57:56 PM
 Ignore defiancegasman Report Abuse

US should do that to all the Natural Gas that is going to be exported!
Profile Pic
TekWare
Champion Author Toronto

Posts:3,307
Points:701,285
Joined:May 2011
Message Posted: Apr 18, 2012 11:57:40 PM
 Ignore TekWare Report Abuse

Ok
Profile Pic
NedW
Champion Author Indianapolis

Posts:5,755
Points:1,168,970
Joined:Mar 2008
Message Posted: Apr 18, 2012 11:56:49 PM
 Ignore NedW Report Abuse

Oh, no.
Profile Pic
satrn38mpg
Champion Author Raleigh

Posts:5,207
Points:1,080,640
Joined:Sep 2009
Message Posted: Apr 18, 2012 11:53:58 PM
 Ignore satrn38mpg Report Abuse

good luck >>
Profile Pic
GordoM
Champion Author Detroit

Posts:1,049
Points:1,018,690
Joined:Nov 2006
Message Posted: Apr 18, 2012 11:52:57 PM
 Ignore GordoM Report Abuse

Story from company is that Argentina's new laws and regulations made profitable operations of YPF almost impossible so risky and expensive investments were slowed. Companies respond to incentives just like everybody else, and they had none given price controls, taxes, and other regulations. Kind of like how our government drives companies and jobs off shore. We now have the highest developed country corporate tax rates in the world. Why invest here?
Profile Pic
azadus
All-Star Author Houston

Posts:554
Points:110,975
Joined:Mar 2012
Message Posted: Apr 18, 2012 11:50:21 PM
 Ignore azadus Report Abuse

ok
Profile Pic
mindrisa
Veteran Author Denver

Posts:399
Points:137,460
Joined:Feb 2012
Message Posted: Apr 18, 2012 11:49:14 PM
 Ignore mindrisa Report Abuse

ok
Profile Pic
OGW
Champion Author London

Posts:5,446
Points:1,558,085
Joined:Sep 2005
Message Posted: Apr 18, 2012 11:42:38 PM
 Ignore OGW Report Abuse

Long over due. The company was just screwing the people of Argentina pure and simple.
Profile Pic
bowler360
Champion Author Illinois

Posts:2,110
Points:527,250
Joined:Jun 2011
Message Posted: Apr 18, 2012 11:41:33 PM
 Ignore bowler360 Report Abuse

Who cares.
Profile Pic
mstearno
Champion Author Dayton

Posts:8,174
Points:1,755,920
Joined:Jan 2008
Message Posted: Apr 18, 2012 11:38:59 PM
 Ignore mstearno Report Abuse

Obama like???
Profile Pic
us4usa
Champion Author Missouri

Posts:6,125
Points:1,138,560
Joined:May 2008
Message Posted: Apr 18, 2012 11:37:34 PM
 Ignore us4usa Report Abuse

And some want bigger government...
Profile Pic
sammy518
Champion Author Austin

Posts:2,589
Points:539,790
Joined:Dec 2010
Message Posted: Apr 18, 2012 11:35:48 PM
 Ignore sammy518 Report Abuse

OK
Profile Pic
chillyman3
Champion Author Illinois

Posts:1,355
Points:445,390
Joined:Jan 2012
Message Posted: Apr 18, 2012 11:34:54 PM
 Ignore chillyman3 Report Abuse

ok
Profile Pic
big_mac64
Champion Author Tennessee

Posts:10,600
Points:1,490,130
Joined:May 2005
Message Posted: Apr 18, 2012 11:34:14 PM
 Ignore big_mac64 Report Abuse

ok
Profile Pic
theschmuck
Champion Author Michigan

Posts:3,035
Points:1,533,785
Joined:Mar 2007
Message Posted: Apr 18, 2012 11:33:43 PM
 Ignore theschmuck Report Abuse

A good point made by 'deg'. The US has slipped badly in the eyes of the world during the last three years thanks to u know who.
Profile Pic
tippybuddy
Champion Author Ontario

Posts:1,523
Points:207,740
Joined:Feb 2011
Message Posted: Apr 18, 2012 11:33:31 PM
 Ignore tippybuddy Report Abuse

ok
Profile Pic
wulf2000
Champion Author Miami

Posts:3,161
Points:1,412,405
Joined:May 2005
Message Posted: Apr 18, 2012 11:27:12 PM
 Ignore wulf2000 Report Abuse

Soon Obama will forllow Kirchner steps.

US under Obama's leadership will follow other South American countries as a banana republic.
Profile Pic
Blue48
Champion Author Illinois

Posts:7,450
Points:1,666,620
Joined:Feb 2007
Message Posted: Apr 18, 2012 11:25:11 PM
 Ignore Blue48 Report Abuse

WHAT EVER!
Profile Pic
carman11
Champion Author North Carolina

Posts:3,485
Points:720,400
Joined:Jun 2011
Message Posted: Apr 18, 2012 11:24:48 PM
 Ignore carman11 Report Abuse

NOW THAT IS INTERESTING
Profile Pic
crashintuc34
Champion Author Tucson

Posts:4,193
Points:839,530
Joined:May 2010
Message Posted: Apr 18, 2012 11:22:14 PM
 Ignore crashintuc34 Report Abuse

D'oh!
Profile Pic
letterchunker
Champion Author Texas

Posts:2,340
Points:684,125
Joined:Aug 2008
Message Posted: Apr 18, 2012 11:17:54 PM
 Ignore letterchunker Report Abuse

okay
Profile Pic
serrog
Champion Author Nova Scotia

Posts:5,710
Points:1,540,805
Joined:Oct 2008
Message Posted: Apr 18, 2012 11:16:38 PM
 Ignore serrog Report Abuse

ok
Profile Pic
PizzaMon
Champion Author Philadelphia

Posts:5,134
Points:1,886,455
Joined:Jun 2006
Message Posted: Apr 18, 2012 11:16:12 PM
 Ignore PizzaMon Report Abuse

Never a good idea.
Profile Pic
g747
Champion Author Mobile

Posts:4,682
Points:961,370
Joined:Jul 2009
Message Posted: Apr 18, 2012 11:15:21 PM
 Ignore g747 Report Abuse

Argentina must be self-reliant on themselves.
Profile Pic
radiorumor
Champion Author Texas

Posts:2,951
Points:781,540
Joined:Feb 2011
Message Posted: Apr 18, 2012 11:14:19 PM
 Ignore radiorumor Report Abuse

Truth hurts therefore lying will get you elected
Profile Pic
DEG
Champion Author Las Vegas

Posts:17,750
Points:3,520,455
Joined:Jul 2003
Message Posted: Apr 18, 2012 11:12:53 PM
 Ignore DEG Report Abuse

Sounds like short-sighted policies (just like Obama's destruction of America).
Profile Pic
jessek
Champion Author Detroit

Posts:2,657
Points:1,280,490
Joined:Sep 2008
Message Posted: Apr 18, 2012 11:12:41 PM
 Ignore jessek Report Abuse

Scary!
Profile Pic
DustyHorse
Champion Author Virginia

Posts:6,224
Points:1,417,780
Joined:Oct 2008
Message Posted: Apr 18, 2012 11:11:08 PM
 Ignore DustyHorse Report Abuse

Not a good idea.
Profile Pic
Alaydown
Champion Author Los Angeles

Posts:5,259
Points:847,815
Joined:May 2007
Message Posted: Apr 18, 2012 11:09:16 PM
 Ignore Alaydown Report Abuse

clermont40miles, very true, but BHO won't try to do the same until AFTER the election. As he said to the Russian president on a hot microphone, "This is my last election. After my election I have more flexibility."

Everyone should take his words to the Russian as a dire warning.

Be afraid! Be very afraid!
Profile Pic
altima2008
Champion Author Philadelphia

Posts:8,305
Points:1,765,690
Joined:Apr 2008
Message Posted: Apr 18, 2012 11:08:36 PM
 Ignore altima2008 Report Abuse

were screwed
Profile Pic
bif65
Champion Author Virginia

Posts:1,024
Points:200,650
Joined:Jan 2011
Message Posted: Apr 18, 2012 11:05:46 PM
 Ignore bif65 Report Abuse

ok
Profile Pic
MidNJ
Champion Author New Jersey

Posts:7,686
Points:1,198,115
Joined:Sep 2009
Message Posted: Apr 18, 2012 11:05:45 PM
 Ignore MidNJ Report Abuse

Actually, Argentina is an independent nation and, if we are talking about Nationalizing the oil industry that is what Newt is about.

Why???

Why, the only way Newt can deliver on $2.50 gas prices is if he Nationalizes (or seizes) our oil industry.

------------------

Beware of those who make false promises!
Profile Pic
clermont40miles
Champion Author Cincinnati

Posts:10,759
Points:1,800,570
Joined:Apr 2008
Message Posted: Apr 18, 2012 10:56:37 PM
 Ignore clermont40miles Report Abuse

BHO is watching and licking his chops to do the same.

Freedom and private property are fading fast.

Stand strong like free men ought. Having done all, stand.
Profile Pic
JasonKY
Veteran Author Lexington

Posts:292
Points:67,795
Joined:Feb 2012
Message Posted: Apr 18, 2012 10:50:52 PM
 Ignore JasonKY Report Abuse

Not good for US, and not good for Argentina and the rest of the Pan American countries.
Profile Pic
mrbee
Champion Author Little Rock

Posts:3,898
Points:2,494,285
Joined:Oct 2005
Message Posted: Apr 18, 2012 10:48:54 PM
 Ignore mrbee Report Abuse

Not good.
Profile Pic
boborobot
All-Star Author Michigan

Posts:503
Points:442,490
Joined:Dec 2011
Message Posted: Apr 18, 2012 10:46:25 PM
 Ignore boborobot Report Abuse

Sounds like the US Government.
Profile Pic
WBBNC
Veteran Author North Carolina

Posts:499
Points:488,640
Joined:Jan 2011
Message Posted: Apr 18, 2012 10:45:33 PM
 Ignore WBBNC Report Abuse

Sounds familiar. It's US.
Profile Pic
fajeff01
All-Star Author Atlanta

Posts:678
Points:1,337,560
Joined:Jan 2005
Message Posted: Apr 18, 2012 10:44:45 PM
 Ignore fajeff01 Report Abuse

Yes...good old nationalization.

Now why isn't America saying anything about Argentina nationalizing so many business sectors such as their airlines, obviously the oil company that's really owned by Spain, and the fact that Argentina refused to pay their international loans when they were called a decade ago?

Yet far poorer nations are being called and ridiculed for not being ABLE to pay back their loans...you know...the loans they had to borrow from the same countries that STOLE TRILLIONS in resources from these now "poorer" countries???

Hmmm...and still we refuse to SERIOUSLY help Haiti. Haiti could have be revitalized decades ago. We're dragging our feet on purpose.

Oh but we can CONTINUOUSLY complain about Cuba and Venezuela having done the EXACT same thing that Argentina has been doing for the last decade without a peep from our American government. It doesn't sound like equal opportunity bullying by our American government. I'm sure it's no accident.
Profile Pic
tco9436
Champion Author Connecticut

Posts:1,807
Points:745,150
Joined:Mar 2010
Message Posted: Apr 18, 2012 10:40:17 PM
 Ignore tco9436 Report Abuse

Oh boy!
Profile Pic
bvrbill
Champion Author Eugene

Posts:3,445
Points:546,325
Joined:Jul 2011
Message Posted: Apr 18, 2012 10:40:08 PM
 Ignore bvrbill Report Abuse

Who will want to do business in Argentina?
Profile Pic
gas_too_high
Champion Author Columbus

Posts:11,691
Points:1,960,390
Joined:Aug 2005
Message Posted: Apr 18, 2012 10:36:02 PM
 Ignore gas_too_high Report Abuse

If you want to keep oil in our country, you have to allow the production of oil to be profitable. You can't do that by confiscation.

Bottom line: I won't cry for you, Argentina.

GTH
Profile Pic
2gjh
Champion Author North Dakota

Posts:3,174
Points:2,447,600
Joined:Nov 2003
Message Posted: Apr 18, 2012 10:35:09 PM
 Ignore 2gjh Report Abuse


Watch out our Socialist King might seize oil company assets
Profile Pic
babugp
Veteran Author Philadelphia

Posts:339
Points:76,685
Joined:Mar 2012
Message Posted: Apr 18, 2012 10:32:52 PM
 Ignore babugp Report Abuse

cool
Post a reply Back to Topics
First
1234
Next Last
"Consumers working together to save on gas"