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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

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JENNYHK Champion Author Chicago Posts:3,641 Points:713,545 Joined:Apr 2011	Message Posted: Apr 18, 2012 7:53:54 PM Ignore JENNYHK Report Abuse I liked the play.
Beaveronparade Champion Author Hartford Posts:2,105 Points:635,800 Joined:Mar 2011	Message Posted: Apr 18, 2012 7:53:18 PM Ignore Beaveronparade Report Abuse They should not be our problem.
hoffbeck20 Veteran Author Minnesota Posts:283 Points:63,095 Joined:Dec 2011	Message Posted: Apr 18, 2012 7:50:14 PM Ignore hoffbeck20 Report Abuse thats not good
ExplorerWA Champion Author Washington Posts:4,083 Points:797,375 Joined:Feb 2011	Message Posted: Apr 18, 2012 7:48:53 PM Ignore ExplorerWA Report Abuse Seems their government want to run the oil business. No investor's are going to want to invest in it now as government does not run anything well.
cutter1330 Champion Author Oklahoma Posts:8,035 Points:1,694,115 Joined:Jul 2005	Message Posted: Apr 18, 2012 7:48:40 PM Ignore cutter1330 Report Abuse Argentina's problem, me thinks!!
robaloma Champion Author Houston Posts:2,601 Points:692,375 Joined:Feb 2011	Message Posted: Apr 18, 2012 7:48:03 PM Ignore robaloma Report Abuse Wher have you gone?
EmperorsFinest Champion Author Chicago Posts:1,564 Points:340,870 Joined:Jul 2011	Message Posted: Apr 18, 2012 7:45:37 PM Ignore EmperorsFinest Report Abuse Don't forget me Argentina!!!
RAKARWOWSKI Champion Author Chicago Posts:4,000 Points:821,775 Joined:Jan 2011	Message Posted: Apr 18, 2012 7:42:00 PM Ignore RAKARWOWSKI Report Abuse Someone is not happy.
pgerassi Champion Author Milwaukee Posts:10,901 Points:2,132,580 Joined:Apr 2007	Message Posted: Apr 18, 2012 7:38:50 PM Ignore pgerassi Report Abuse It will bite them in the ass.
gass12 Champion Author Omaha Posts:8,394 Points:2,304,690 Joined:Oct 2005	Message Posted: Apr 18, 2012 7:37:09 PM Ignore gass12 Report Abuse Who really cares about them.
pbug101 Champion Author Georgia Posts:2,459 Points:579,900 Joined:Aug 2011	Message Posted: Apr 18, 2012 7:37:08 PM Ignore pbug101 Report Abuse ok
jdc17327 Champion Author Pennsylvania Posts:2,560 Points:198,015 Joined:May 2009	Message Posted: Apr 18, 2012 7:35:56 PM Ignore jdc17327 Report Abuse what?
dale243 All-Star Author Dallas Posts:972 Points:679,025 Joined:Jan 2011	Message Posted: Apr 18, 2012 7:33:36 PM Ignore dale243 Report Abuse What does that mean for us?
warlord1 Champion Author Georgia Posts:5,250 Points:1,034,975 Joined:May 2010	Message Posted: Apr 18, 2012 7:29:37 PM Ignore warlord1 Report Abuse ok
toadNY Champion Author Albany Posts:7,047 Points:1,514,125 Joined:Apr 2008	Message Posted: Apr 18, 2012 7:25:51 PM Ignore toadNY Report Abuse to themaninthehat, Are you Nuts?
gasaholicMO Champion Author Missouri Posts:2,621 Points:510,940 Joined:Apr 2010	Message Posted: Apr 18, 2012 7:22:23 PM Ignore gasaholicMO Report Abuse If they keep this up they will run oil companies away.
TelsaOR Champion Author Oregon Posts:3,566 Points:733,965 Joined:Jan 2011	Message Posted: Apr 18, 2012 7:17:00 PM Ignore TelsaOR Report Abuse I agree with mnbeancounter: What international company wants to invest in Argentina now?
IMLURCH Champion Author Minnesota Posts:2,184 Points:1,103,180 Joined:Mar 2009	Message Posted: Apr 18, 2012 7:16:41 PM Ignore IMLURCH Report Abuse Good for them.
smenzel Champion Author Seattle Posts:2,060 Points:1,105,905 Joined:Mar 2007	Message Posted: Apr 18, 2012 7:15:14 PM Ignore smenzel Report Abuse Government involvement in business is always a tricky issue.
DeHavilland Champion Author Toronto Posts:5,875 Points:1,904,240 Joined:Jun 2007	Message Posted: Apr 18, 2012 7:15:04 PM Ignore DeHavilland Report Abuse Whatever. At least they're trying something.
jwduke1 Champion Author Iowa Posts:15,604 Points:3,068,265 Joined:Apr 2004	Message Posted: Apr 18, 2012 7:12:28 PM Ignore jwduke1 Report Abuse Okay....
DriverofRed Champion Author Calgary Posts:2,178 Points:412,860 Joined:Dec 2011	Message Posted: Apr 18, 2012 7:11:26 PM Ignore DriverofRed Report Abuse ok
dinomen Champion Author Arkansas Posts:1,882 Points:718,685 Joined:May 2010	Message Posted: Apr 18, 2012 7:08:10 PM Ignore dinomen Report Abuse Ok.
RAC110 Champion Author Massachusetts Posts:5,954 Points:1,852,620 Joined:Mar 2003	Message Posted: Apr 18, 2012 7:05:11 PM Ignore RAC110 Report Abuse our country exports millions of gallons of oil all the time
jason98122 Champion Author Seattle Posts:1,050 Points:1,248,945 Joined:Apr 2008	Message Posted: Apr 18, 2012 7:04:24 PM Ignore jason98122 Report Abuse Let's be careful here.
VDubBill Champion Author Jacksonville Posts:3,765 Points:1,263,120 Joined:May 2008	Message Posted: Apr 18, 2012 7:04:07 PM Ignore VDubBill Report Abuse Watch out. They could also be planning something about the oil explorations in the Falklands (BOT).
bababooey2 Champion Author Hartford Posts:6,352 Points:1,303,590 Joined:Sep 2009	Message Posted: Apr 18, 2012 7:02:24 PM Ignore bababooey2 Report Abuse Interesting but disturbing news.
firefly09 Champion Author San Diego Posts:2,497 Points:716,700 Joined:Mar 2009	Message Posted: Apr 18, 2012 6:55:41 PM Ignore firefly09 Report Abuse Hmmmmmmmmmmmmm.
BeulahME Champion Author Maine Posts:1,107 Points:444,485 Joined:Jan 2011	Message Posted: Apr 18, 2012 6:54:45 PM Ignore BeulahME Report Abuse not good.
uptherefiners Champion Author Chicago Posts:5,048 Points:1,002,000 Joined:Jun 2006	Message Posted: Apr 18, 2012 6:54:34 PM Ignore uptherefiners Report Abuse Ticobird + 1
GRUMPY55 Champion Author California Posts:1,629 Points:423,500 Joined:Oct 2011	Message Posted: Apr 18, 2012 6:52:25 PM Ignore GRUMPY55 Report Abuse ok
Ticobird Champion Author Huntsville Posts:3,231 Points:1,116,015 Joined:Oct 2009	Message Posted: Apr 18, 2012 6:52:22 PM Ignore Ticobird Report Abuse And we think our political system is broken - huh? If Argentinian citizens don't watch out their country will turn into a Chinese pawn - in the Americas no less. Our government should be trying to educate those who lean toward democracy and not socialistic government.
fire@53 Champion Author Philadelphia Posts:11,833 Points:2,770,050 Joined:May 2003	Message Posted: Apr 18, 2012 6:50:27 PM Ignore fire@53 Report Abuse This will hurt Argentina as what other industry will be next to be seized!
MDTDriver Champion Author California Posts:9,729 Points:2,155,620 Joined:Jul 2006	Message Posted: Apr 18, 2012 6:50:17 PM Ignore MDTDriver Report Abuse No country has HIGHER oil exports than the USA!
Ken2OD Champion Author Grand Rapids Posts:9,072 Points:1,971,940 Joined:Dec 2005	Message Posted: Apr 18, 2012 6:49:34 PM Ignore Ken2OD Report Abuse Communism - socialism - or "equating the bases." It all means the same. Listen to the words that Premier Barack uses.
The_DR Champion Author New Jersey Posts:2,785 Points:585,815 Joined:Aug 2011	Message Posted: Apr 18, 2012 6:49:22 PM Ignore The_DR Report Abuse What?
vincentV All-Star Author Toronto Posts:652 Points:137,305 Joined:Oct 2010	Message Posted: Apr 18, 2012 6:47:30 PM Ignore vincentV Report Abuse Argentina sucks!
nj2000ng Champion Author Houston Posts:1,507 Points:449,020 Joined:Jan 2010	Message Posted: Apr 18, 2012 6:47:28 PM Ignore nj2000ng Report Abuse ok
themaninthehat Champion Author New Orleans Posts:1,824 Points:472,265 Joined:Feb 2011	Message Posted: Apr 18, 2012 6:45:44 PM Ignore themaninthehat Report Abuse Teabaggers don't like a government that looks our after the interest and actually serves its citizens. Stop voting against your own pocketbook s and Reelect the President and bring both Houses back to Democratic control. Don't worry, Dick Cheney can't quail hunt with all of us.
shea33 Champion Author Pensacola Posts:2,373 Points:543,915 Joined:Oct 2011	Message Posted: Apr 18, 2012 6:45:38 PM Ignore shea33 Report Abuse not good
gravityhurts Champion Author North Carolina Posts:4,098 Points:938,480 Joined:Sep 2008	Message Posted: Apr 18, 2012 6:33:27 PM Ignore gravityhurts Report Abuse Socialism at it's best...look out O-merica!
geoutpb Champion Author Midland Odessa Posts:4,628 Points:1,067,285 Joined:Dec 2006	Message Posted: Apr 18, 2012 6:30:15 PM Ignore geoutpb Report Abuse Will be interesting to see how this plays out over the years.
SUPERQUACK Champion Author Sacramento Posts:6,126 Points:1,911,830 Joined:Jun 2007	Message Posted: Apr 18, 2012 6:29:39 PM Ignore SUPERQUACK Report Abuse I DOUBT IT !!
SilentpartnerMN Champion Author Minnesota Posts:1,622 Points:477,710 Joined:Apr 2011	Message Posted: Apr 18, 2012 6:29:20 PM Ignore SilentpartnerMN Report Abuse Which South American country did our government send money to develop their oil production?
LegoVasavouchi Champion Author Oklahoma Posts:1,659 Points:114,390 Joined:Apr 2011	Message Posted: Apr 18, 2012 6:27:10 PM Ignore LegoVasavouchi Report Abuse Fascinating.
rx7racerca Champion Author Calgary Posts:4,201 Points:1,113,175 Joined:Sep 2008	Message Posted: Apr 18, 2012 6:26:32 PM Ignore rx7racerca Report Abuse Seems counterproductive, since the heavy-handed government move is bound to make it even harder to get the partners needed to develop Argentina's shale oil. But, I hear sentiments that aren't so different around here every day, with people advocating that the government needs to somehow step in and deal with high gas prices - an anti-free enterprise move.
tasha88CA All-Star Author California Posts:602 Points:43,315 Joined:Mar 2012	Message Posted: Apr 18, 2012 6:25:38 PM Ignore tasha88CA Report Abuse k
hcivic Champion Author Virginia Posts:3,854 Points:2,265,715 Joined:Aug 2005	Message Posted: Apr 18, 2012 6:21:00 PM Ignore hcivic Report Abuse ok
mnbeancounter Champion Author Minnesota Posts:4,739 Points:1,062,815 Joined:Oct 2009	Message Posted: Apr 18, 2012 6:15:42 PM Ignore mnbeancounter Report Abuse What international company wants to invest in Argentina now?
ratones1 Champion Author Los Angeles Posts:2,912 Points:731,980 Joined:Mar 2011	Message Posted: Apr 18, 2012 6:15:39 PM Ignore ratones1 Report Abuse OK...
BigBob12345 Champion Author Gasbuddy Posts:1,521 Points:304,730 Joined:Aug 2011	Message Posted: Apr 18, 2012 6:12:29 PM Ignore BigBob12345 Report Abuse Leave it to third world countries to nationalize companies.
TBRR Champion Author Jacksonville Posts:3,672 Points:599,320 Joined:Dec 2007	Message Posted: Apr 18, 2012 6:09:24 PM Ignore TBRR Report Abuse 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.