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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 Back to Topics
REPLIES (newest first) Post a Reply
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rjhenn
Champion Author Des Moines

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Message Posted: Apr 20, 2012 1:28:38 PM

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

Say what?
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goldrose1
Champion Author Cleveland

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Message Posted: Apr 19, 2012 10:12:57 PM

And this after Americas conference.
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pbug101
Champion Author Georgia

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Message Posted: Apr 19, 2012 8:32:38 PM

ok
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puinsai808
Champion Author Honolulu

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Message Posted: Apr 19, 2012 10:15:40 AM

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

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Message Posted: Apr 19, 2012 6:31:41 AM

Ditto vollee!
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DandyDapple
All-Star Author North Dakota

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Message Posted: Apr 19, 2012 12:22:33 AM

OMG 2012 ...
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vollee
Champion Author Cincinnati

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Message Posted: Apr 19, 2012 12:15:30 AM

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]
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defiancegasman
Champion Author Ohio

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Message Posted: Apr 18, 2012 11:57:56 PM

US should do that to all the Natural Gas that is going to be exported!
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TekWare
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Message Posted: Apr 18, 2012 11:57:40 PM

Ok
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NedW
Champion Author Indianapolis

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Message Posted: Apr 18, 2012 11:56:49 PM

Oh, no.
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satrn38mpg
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Message Posted: Apr 18, 2012 11:53:58 PM

good luck >>
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GordoM
Champion Author Detroit

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Message Posted: Apr 18, 2012 11:52:57 PM

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?
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azadus
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Message Posted: Apr 18, 2012 11:50:21 PM

ok
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mindrisa
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Message Posted: Apr 18, 2012 11:49:14 PM

ok
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OGW
Champion Author London

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Message Posted: Apr 18, 2012 11:42:38 PM

Long over due. The company was just screwing the people of Argentina pure and simple.
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bowler360
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Message Posted: Apr 18, 2012 11:41:33 PM

Who cares.
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mstearno
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Message Posted: Apr 18, 2012 11:38:59 PM

Obama like???
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us4usa
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Message Posted: Apr 18, 2012 11:37:34 PM

And some want bigger government...
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sammy518
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Message Posted: Apr 18, 2012 11:35:48 PM

OK
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chillyman3
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Message Posted: Apr 18, 2012 11:34:54 PM

ok
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big_mac64
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Message Posted: Apr 18, 2012 11:34:14 PM

ok
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theschmuck
Champion Author Michigan

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Message Posted: Apr 18, 2012 11:33:43 PM

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.
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tippybuddy
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Message Posted: Apr 18, 2012 11:33:31 PM

ok
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wulf2000
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Message Posted: Apr 18, 2012 11:27:12 PM

Soon Obama will forllow Kirchner steps.

US under Obama's leadership will follow other South American countries as a banana republic.
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Blue48
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Message Posted: Apr 18, 2012 11:25:11 PM

WHAT EVER!
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carman11
Champion Author North Carolina

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Message Posted: Apr 18, 2012 11:24:48 PM

NOW THAT IS INTERESTING
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crashintuc34
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Message Posted: Apr 18, 2012 11:22:14 PM

D'oh!
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letterchunker
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Message Posted: Apr 18, 2012 11:17:54 PM

okay
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serrog
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Message Posted: Apr 18, 2012 11:16:38 PM

ok
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PizzaMon
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Message Posted: Apr 18, 2012 11:16:12 PM

Never a good idea.
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g747
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Message Posted: Apr 18, 2012 11:15:21 PM

Argentina must be self-reliant on themselves.
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radiorumor
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Message Posted: Apr 18, 2012 11:14:19 PM

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

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Message Posted: Apr 18, 2012 11:12:53 PM

Sounds like short-sighted policies (just like Obama's destruction of America).
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jessek
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Message Posted: Apr 18, 2012 11:12:41 PM

Scary!
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DustyHorse
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Message Posted: Apr 18, 2012 11:11:08 PM

Not a good idea.
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Alaydown
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Message Posted: Apr 18, 2012 11:09:16 PM

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!
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altima2008
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Message Posted: Apr 18, 2012 11:08:36 PM

were screwed
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bif65
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Message Posted: Apr 18, 2012 11:05:46 PM

ok
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MidNJ
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Message Posted: Apr 18, 2012 11:05:45 PM

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!
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clermont40miles
Champion Author Cincinnati

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Message Posted: Apr 18, 2012 10:56:37 PM

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.
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JasonKY
Veteran Author Lexington

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Message Posted: Apr 18, 2012 10:50:52 PM

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

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Message Posted: Apr 18, 2012 10:48:54 PM

Not good.
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boborobot
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Message Posted: Apr 18, 2012 10:46:25 PM

Sounds like the US Government.
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WBBNC
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Message Posted: Apr 18, 2012 10:45:33 PM

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

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Message Posted: Apr 18, 2012 10:44:45 PM

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.
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tco9436
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Message Posted: Apr 18, 2012 10:40:17 PM

Oh boy!
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bvrbill
Champion Author Eugene

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Message Posted: Apr 18, 2012 10:40:08 PM

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

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Message Posted: Apr 18, 2012 10:36:02 PM

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
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2gjh
Champion Author North Dakota

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Message Posted: Apr 18, 2012 10:35:09 PM


Watch out our Socialist King might seize oil company assets
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babugp
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Message Posted: Apr 18, 2012 10:32:52 PM

cool
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