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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.

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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
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BigBob12345
Champion Author Gasbuddy

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Message Posted: Apr 18, 2012 6:12:29 PM
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Leave it to third world countries to nationalize companies.
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TBRR
Champion Author Jacksonville

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Message Posted: Apr 18, 2012 6:09:24 PM
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51% kind of means nationalization of the company. bet their stock just went to just above zero, like GM stock did when obummer shafted all the GM stockholders. will never invest in GM again.
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humancry
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Message Posted: Apr 18, 2012 6:08:53 PM
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Give me a straw ill suck it all up
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MG_Sputnik
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Message Posted: Apr 18, 2012 6:08:00 PM
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Seizes?
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mconley1967
All-Star Author Louisville

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Message Posted: Apr 18, 2012 6:07:25 PM
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Ok
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jerej829
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ok
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OOXXFF
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Message Posted: Apr 18, 2012 6:05:24 PM
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Too bad for Argentina.
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humblepie
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Message Posted: Apr 18, 2012 6:04:55 PM
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third world antics
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Grandkid1
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Message Posted: Apr 18, 2012 6:03:19 PM
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Hmmmmmmmmmmmmmm
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miiike572
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k
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milespergallon
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Message Posted: Apr 18, 2012 6:02:10 PM
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Do not see how this affects us unless the resident of 1600 Pennsylvania Ave tries to do the same. Only good part about that idea is it's only in office for another 9 monhs
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fenster66
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interesting....
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carpenter4u
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Message Posted: Apr 18, 2012 5:56:29 PM
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Sounds like what Obama wants to do
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rjhenn
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bigrigAZ - "Let's go back to the keystone drilling."

What is "keystone drilling"?
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Zeke33
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Message Posted: Apr 18, 2012 5:52:54 PM
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If the Argentina government is going to run this company, I hope that they can run it better than the U.S. government under Obummer can run companies.
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bigrigAZ
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Message Posted: Apr 18, 2012 5:52:30 PM
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Let's go back to the keystone drilling. Keep gov't out of it.
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Romey08
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US can be self reliant.
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76chevy
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Message Posted: Apr 18, 2012 5:51:39 PM
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obama is taking notes......GOVERNMENT OIL.... you haven't seen big oil yet!
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Crumbfel
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READ
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humblepie
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Message Posted: Apr 18, 2012 5:48:25 PM
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this is really going to haunt them in the future.
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Topshopper2011
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Message Posted: Apr 18, 2012 5:44:10 PM
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And just last year Argentia found a new source of oil off its coast!
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joeborge
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ok
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Bud122CA
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America should take control and start becoming self suffecent also.
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sit
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ok
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Goofoff
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READ
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balljars
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Message Posted: Apr 18, 2012 5:37:34 PM
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Two things that dont mix well; Obama and oil.
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camaro_man
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wow
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stickyvalves
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Coming our way soon if we don't change our ways.
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adr47
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Message Posted: Apr 18, 2012 5:28:30 PM
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SO
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preacherboyFL
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:/
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Beauff
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Message Posted: Apr 18, 2012 5:26:32 PM
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Hmmmm
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platinum16434
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Message Posted: Apr 18, 2012 5:23:39 PM
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Same situation as in here. Politic + oil = disaster.
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Cuzilla
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Message Posted: Apr 18, 2012 5:22:28 PM
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"Don't cry for me, Argentina..."

[Edited by: Cuzilla at 4/18/2012 6:23:04 PM EST]
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04coupe
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Ok
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JXD
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Bad mix, politics and oil!
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dieselme2011
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ok
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no8c
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Thanks for posting this article!
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Teddy95
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Hummm....
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bluetatanka
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The world scene is quite interesting!
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Krykson
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Interesting
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jetlagAK
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Just another reason why the USA needs to fire Obama and become self sufficient.

Anyone else 2012!
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DrCashFlow
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Political strongmen grabbing easy money
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gils
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ok
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ConejoHop
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Surely their politicians aren't PROFITING from controlling big oil? Gosh, that could never happen.
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TXHUNTER1
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Message Posted: Apr 18, 2012 4:57:27 PM
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OK
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Sam195
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Sounds like the US Gov and the auto companies.
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justme48
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What next?
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dougtaylor1
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mgune9 "our own "big government" is looking for every excuse to run all US business -- current admin doesn't like capitalism and free markets.

I agree 100% with you but I need to say, they don't like anything about America, the free and the brave. They want the controlled and the weak. That is why they support the occupy movement.
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slowtrain
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OK
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bluebird1
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Well, Big Oil owns half the politicians here...so I guess only fair for gov't to own some big OIl elsewhere!! Likely people are better off than in the unregulated trade scenario here.
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frostyWV
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ok
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