Argentina: Oil drama queens, and a king
Argentina’s oil production has decreased by 12% between 2003 to 2010, and everybody’s having fits
- Cristina Fernández blames YPF,
- YPF blames her energy policy,
- Investors are getting whiplashed over stock prices
- and Spain’s Repsol YPF, SA, the oil company’s majority owner, which is based in Spain, even had King Juan Carlos intervene.
Of course, Cristina’s talking of nationalizing YPF, since that worked so well for Aerolíneas Argentinas.
Which is yet another sample of Cristina’s approach to any issue, i.e., bring up nationalism. Oil, the Falklands, inflation, whatever, she has one solution.
Read what’s Behind the Battle for Argentina’s Oil.