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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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2gjh Champion Author North Dakota Posts:3,174 Points:2,447,600 Joined:Nov 2003	Message Posted: Apr 18, 2012 7:35:09 PM Ignore 2gjh Report Abuse Watch out our Socialist King might seize oil company assets
babugp Veteran Author Philadelphia Posts:339 Points:76,685 Joined:Mar 2012	Message Posted: Apr 18, 2012 7:32:52 PM Ignore babugp Report Abuse cool
donnamarieb333 Veteran Author South Carolina Posts:397 Points:181,340 Joined:May 2011	Message Posted: Apr 18, 2012 7:27:16 PM Ignore donnamarieb333 Report Abuse our gov't isn't much different anymore. while we've been saying our one vote doesn't matter the fox was hired to watch the hen house...
crazycow2332 Champion Author Nashville Posts:1,217 Points:255,080 Joined:May 2010	Message Posted: Apr 18, 2012 7:27:10 PM Ignore crazycow2332 Report Abuse ok
WIWalt Champion Author Wisconsin Posts:1,741 Points:418,470 Joined:Mar 2012	Message Posted: Apr 18, 2012 7:26:27 PM Ignore WIWalt Report Abuse Ok
paulydel Champion Author Delaware Posts:8,799 Points:848,800 Joined:Jan 2008	Message Posted: Apr 18, 2012 7:20:33 PM Ignore paulydel Report Abuse Sounds like us.
rjoeh Champion Author Michigan Posts:7,091 Points:2,472,165 Joined:Jun 2004	Message Posted: Apr 18, 2012 7:20:09 PM Ignore rjoeh Report Abuse If speculators were not bad enough here... not in this instance... the government is trying to do similar tricks to O.
ericbcire Champion Author Nevada Posts:4,535 Points:1,269,660 Joined:Aug 2009	Message Posted: Apr 18, 2012 7:17:07 PM Ignore ericbcire Report Abuse Not good.
dave1745 Champion Author Gary Posts:1,262 Points:740,625 Joined:Dec 2010	Message Posted: Apr 18, 2012 7:10:37 PM Ignore dave1745 Report Abuse nice
MattieDale Sophomore Author Cincinnati Posts:236 Points:207,275 Joined:Mar 2003	Message Posted: Apr 18, 2012 7:10:07 PM Ignore MattieDale Report Abuse Sounds like a future coup in the offing
panda317 Champion Author Massachusetts Posts:2,259 Points:688,375 Joined:Aug 2002	Message Posted: Apr 18, 2012 7:06:12 PM Ignore panda317 Report Abuse ok
movietracker All-Star Author Pennsylvania Posts:695 Points:162,390 Joined:Mar 2011	Message Posted: Apr 18, 2012 7:06:11 PM Ignore movietracker Report Abuse Ok
EVBuddy Champion Author Nevada Posts:16,700 Points:3,033,545 Joined:Sep 2004	Message Posted: Apr 18, 2012 7:05:11 PM Ignore EVBuddy Report Abuse This sure is far away....
weenerdog Champion Author Detroit Posts:9,471 Points:1,886,840 Joined:Jan 2008	Message Posted: Apr 18, 2012 7:04:42 PM Ignore weenerdog Report Abuse we'll see
hagar2935 Veteran Author Nevada Posts:315 Points:85,155 Joined:Dec 2011	Message Posted: Apr 18, 2012 6:58:39 PM Ignore hagar2935 Report Abuse Another case of idiot Socialists not realizing that investors will NOT put money into a Country where the risk of seizure by the Government will put their investments at unnecessary risk. This is why Obama, if he could, would do the same thing and utterly destroy the confidence in America's market............... OOOPS, that's right, he already did that with GM & Chrysler........ Watch out America..... we need to be afraid of what else he will sieze.........
livedream Champion Author Michigan Posts:3,695 Points:757,010 Joined:Mar 2011	Message Posted: Apr 18, 2012 6:53:38 PM Ignore livedream Report Abuse Good for them.
walkingtall Champion Author Toronto Posts:4,009 Points:1,123,630 Joined:Nov 2004	Message Posted: Apr 18, 2012 6:52:54 PM Ignore walkingtall Report Abuse Desperate times,desperate move.
HDFXR1991 Veteran Author Wisconsin Posts:469 Points:141,030 Joined:Sep 2008	Message Posted: Apr 18, 2012 6:45:50 PM Ignore HDFXR1991 Report Abuse ok
raj_fl Champion Author Trenton Posts:3,219 Points:729,955 Joined:Oct 2010	Message Posted: Apr 18, 2012 6:45:17 PM Ignore raj_fl Report Abuse see and let see
raj_fl Champion Author Trenton Posts:3,219 Points:729,955 Joined:Oct 2010	Message Posted: Apr 18, 2012 6:43:56 PM Ignore raj_fl Report Abuse mmmmm
OKRifle Champion Author Oklahoma City Posts:10,424 Points:1,813,210 Joined:Oct 2007	Message Posted: Apr 18, 2012 6:43:19 PM Ignore OKRifle Report Abuse And US?
raj_fl Champion Author Trenton Posts:3,219 Points:729,955 Joined:Oct 2010	Message Posted: Apr 18, 2012 6:43:01 PM Ignore raj_fl Report Abuse nice and not nice
heysailor Champion Author Pittsburgh Posts:9,597 Points:2,335,595 Joined:Mar 2006	Message Posted: Apr 18, 2012 6:38:15 PM Ignore heysailor Report Abuse Not a wise move.
gobux10 Champion Author Ohio Posts:3,184 Points:681,910 Joined:Mar 2010	Message Posted: Apr 18, 2012 6:36:34 PM Ignore gobux10 Report Abuse trying
USAv8tor Veteran Author Long Island Posts:348 Points:138,665 Joined:Mar 2012	Message Posted: Apr 18, 2012 6:36:09 PM Ignore USAv8tor Report Abuse Oh please, don't cry for me Argentina. Does this mean they're going to start another Falkands War again with Great Britain? I hope the French don't sell them another batch of Exocet missiles. Crikey!
jjjleblanc Champion Author Rochester Posts:5,887 Points:1,521,255 Joined:Jun 2008	Message Posted: Apr 18, 2012 6:35:43 PM Ignore jjjleblanc Report Abuse Bad decision.
iceman11 Champion Author Ontario Posts:2,715 Points:536,425 Joined:Feb 2011	Message Posted: Apr 18, 2012 6:30:12 PM Ignore iceman11 Report Abuse ok
skyking19 Champion Author Little Rock Posts:2,006 Points:1,701,540 Joined:Jan 2007	Message Posted: Apr 18, 2012 6:29:11 PM Ignore skyking19 Report Abuse Another weird twist.
nimpy Champion Author Indianapolis Posts:8,150 Points:1,704,030 Joined:Oct 2007	Message Posted: Apr 18, 2012 6:28:58 PM Ignore nimpy Report Abuse we need to use our own gas
DCbeachbum Champion Author South Carolina Posts:2,647 Points:906,315 Joined:May 2010	Message Posted: Apr 18, 2012 6:27:31 PM Ignore DCbeachbum Report Abuse This article makes be glad I live in the USA.
srchr Champion Author San Jose Posts:7,264 Points:1,622,000 Joined:Apr 2008	Message Posted: Apr 18, 2012 6:21:33 PM Ignore srchr Report Abuse they just don't get it - capitalism brings prosperity, not gov't planning
60s-Riviera Veteran Author Los Angeles Posts:465 Points:203,075 Joined:Aug 2003	Message Posted: Apr 18, 2012 6:21:13 PM Ignore 60s-Riviera Report Abuse Thanks darkknight1, I never owned a Pacer but have always wanted to. I took my driving school lessons back in the 80's in old AMC Concords and they were great -- smooth, torquey inline 6-cylinder engines. Now, any AMC products are very, very rare on the roads.
Dsin44 Champion Author Abbotsford Posts:1,272 Points:273,185 Joined:Apr 2011	Message Posted: Apr 18, 2012 6:20:29 PM Ignore Dsin44 Report Abuse money talks
aarrrt Champion Author San Diego Posts:7,284 Points:1,654,455 Joined:May 2008	Message Posted: Apr 18, 2012 6:16:16 PM Ignore aarrrt Report Abuse Argentina is heading way left. Not good for their citizens.
darkknight1 Champion Author Winston-Salem Posts:4,350 Points:898,010 Joined:Nov 2010	Message Posted: Apr 18, 2012 6:10:31 PM Ignore darkknight1 Report Abuse I agree 60s-Riviera. BTW, I like your profile pic. I had a Pacer for my first new car I ever owned.
kusanagisama All-Star Author Texas Posts:708 Points:191,525 Joined:Feb 2011	Message Posted: Apr 18, 2012 6:09:42 PM Ignore kusanagisama Report Abuse Ok.
TDIdave Champion Author California Posts:5,068 Points:1,226,690 Joined:May 2006	Message Posted: Apr 18, 2012 6:07:13 PM Ignore TDIdave Report Abuse ok.
60s-Riviera Veteran Author Los Angeles Posts:465 Points:203,075 Joined:Aug 2003	Message Posted: Apr 18, 2012 6:05:49 PM Ignore 60s-Riviera Report Abuse It's amazing how liberal/socialist governments always think that they can run private industry better than free markets. Look at the old Soviet Union or East Germany if you'd like to see what that leads to -- empty stores, almost no variety in products, etc.
captngasTN Champion Author Tennessee Posts:3,015 Points:1,328,725 Joined:Jun 2009	Message Posted: Apr 18, 2012 6:05:15 PM Ignore captngasTN Report Abuse desparate times, desparate measures
SUSANCK Champion Author Chicago Posts:3,652 Points:710,405 Joined:Apr 2011	Message Posted: Apr 18, 2012 6:03:55 PM Ignore SUSANCK Report Abuse ok.
methaneman Champion Author Minnesota Posts:2,610 Points:1,285,325 Joined:May 2002	Message Posted: Apr 18, 2012 6:03:31 PM Ignore methaneman Report Abuse Maybe we should seize a few?
PoohMcGoo Champion Author Alabama Posts:3,077 Points:802,635 Joined:Dec 2010	Message Posted: Apr 18, 2012 6:02:56 PM Ignore PoohMcGoo Report Abuse Zzzzzzz
itsjustme719 All-Star Author Hamilton Posts:612 Points:600,070 Joined:Dec 2010	Message Posted: Apr 18, 2012 6:02:56 PM Ignore itsjustme719 Report Abuse Ok
iamforiu Champion Author Indiana Posts:3,585 Points:713,690 Joined:May 2011	Message Posted: Apr 18, 2012 6:01:09 PM Ignore iamforiu Report Abuse ok
swrestler Champion Author Grand Rapids Posts:6,150 Points:1,574,100 Joined:Oct 2008	Message Posted: Apr 18, 2012 6:00:01 PM Ignore swrestler Report Abuse Everybody Is Getting Rich On Oil...
danreino Champion Author Twin Cities Posts:8,363 Points:1,542,680 Joined:Mar 2008	Message Posted: Apr 18, 2012 5:58:45 PM Ignore danreino Report Abuse I agree with Kaiyne from Chicago...
Kaiyne Champion Author Chicago Posts:2,349 Points:474,665 Joined:Feb 2011	Message Posted: Apr 18, 2012 5:58:07 PM Ignore Kaiyne Report Abuse Let's seize Argentina.
mr4bill All-Star Author New Jersey Posts:716 Points:1,188,410 Joined:Aug 2006	Message Posted: Apr 18, 2012 5:57:48 PM Ignore mr4bill Report Abuse who cares
boatmen Champion Author New York Posts:3,095 Points:625,505 Joined:Jan 2011	Message Posted: Apr 18, 2012 5:57:22 PM Ignore boatmen Report Abuse at least they are able to help keep the price stable for there people
IUVidiot Champion Author Indiana Posts:3,600 Points:711,385 Joined:Jun 2011	Message Posted: Apr 18, 2012 5:55:48 PM Ignore IUVidiot Report Abuse hmmmmmmmm
JENNYHK Champion Author Chicago Posts:3,651 Points:715,495 Joined:Apr 2011	Message Posted: Apr 18, 2012 5:53:54 PM Ignore JENNYHK Report Abuse I liked the play.
Beaveronparade Champion Author Hartford Posts:2,108 Points:637,535 Joined:Mar 2011	Message Posted: Apr 18, 2012 5:53:18 PM Ignore Beaveronparade Report Abuse They should not be our problem.