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Argentina denies plans to intervene the energy sector: “only ensuring investments”
Planning Minister Julio De Vido denied that the Government plans the “intervention” of the energy sector and clarified that “we demand investment and production plans. This is not an intervention, simple more planning.” Read full article
Comments
Disclaimer & comment rules“The bill declares of national public interest achieving self sufficiency of hydrocarbons”
Jul 30th, 2012 - 08:04 am - Link - Report abuse 0Is this the Juche idea?
“we demand investment and production plans.”
Jul 30th, 2012 - 10:56 am - Link - Report abuse 0Here's a thought; if you want the energy sector to make investment....then PAY your energy bill, you can demand whatever you want but if they ain't got the money then they cannot invest.
Oh yes and how about 'asking' rather than 'demanding', it's the private sector, if you don't pay them then make demands they'll simply give you the finger.
I sometimes wonder if the real meaning gets lost in translation because there have been a lot of stories recently about Argentina demanding this, that and the other.
Jul 30th, 2012 - 11:09 am - Link - Report abuse 0A company's Profit has always been suspicious to the Ks. They have been trying to figure out how to get all of the profit into the gov't coffers for years.
Jul 30th, 2012 - 11:54 am - Link - Report abuse 0How easy it is now that profit is declared illegal and subject to confiscation or merely held in the company's accounts until the gov't says it is ok to do something with it.
CFKs minions are like monkeys with guns.
Nice articles over the weekend on how Anses is now bankrupt and doesn't have enough cash flow to pay pensions for a year. Let's see how that works out as gov't revenue is now not even keeping up with the inflation.
Also they're predicting a yoy 55% increase in the supply of money. Anyone want to guess what inflation will be by the eoy? Anyone?
@4
Jul 30th, 2012 - 01:55 pm - Link - Report abuse 0And interestingly they are still citing Anses as the cash cow that will help pay for everything. Just pumping it full of pesos and then using thoses pesos as collateral will not help anything but inflation. A friend who is quite high in a bank in Arg (above MD level) told me that the government is no longer even pretending that the funds are coming from Anses, is it just being pretty much wired straight from the printing presses...50% at the moment looks to be a middle guess, he said that it could almost be considered conservative...
5. There was a news article that the banks are seeing a huge spike in people asking to increase the spending limits on credit cards. Yet retail sales and food sales are not keeping pace with inflation.
Jul 30th, 2012 - 02:07 pm - Link - Report abuse 0CFK will demand more and more pesos be printed to make up for the HUGE deficits the gov't is running. It is her only options,
Hyperinflation is right around the corner.
This crash will be spectacular!
“we demand investment and production plans. This is not an intervention, simple more planning.” ???? The only planning this government has ever done is how to milk everybody of their money and then put it in their own pockets.
Jul 30th, 2012 - 02:10 pm - Link - Report abuse 0@6
Jul 30th, 2012 - 02:14 pm - Link - Report abuse 0And this kind of collapse can hit a country for a generation...
@8 Let's hope so!
Jul 30th, 2012 - 02:43 pm - Link - Report abuse 0Is this who Ricky Martin was thinking of when he wrote: 'Living De Vido loco'?
Jul 30th, 2012 - 03:35 pm - Link - Report abuse 08. Argentina is already bankrupt they just don't realize it yet. The problem I see is their Reserves are gone. They keep saying there are U$48B but not if you do the math there aren't! If my calculations are correct after Dec they'll have around U$11B fcf.
Jul 30th, 2012 - 03:36 pm - Link - Report abuse 0This is going to mess up the currency because their % are all screwed up and there is relatively nothing supporting the peso.
The Paris club is not going to wait forever to get paid either and they want their U$ 9B+ in one payment.
What a great learning experience I am getting!
@11
Jul 30th, 2012 - 04:06 pm - Link - Report abuse 0Got Rain?
4, I thought the minions were Monkeys?, but that is possibly insulting to the primate family in general
Jul 30th, 2012 - 04:22 pm - Link - Report abuse 0Toby, You are under the false assumption that the drought in the USA will some how have a positive effect on Argentina.
Jul 30th, 2012 - 06:11 pm - Link - Report abuse 0First of all the drought for us is not good but certainly not devastating to our economy. They are predicting that food prices MAY rise 2-3% which is irrelevant to most peoples monthly expenses. We spent relatively little on food costs as a relation to our monthly wage.
You have seen Soy spike then go down but who's knows where it will be when your Soy crop comes in or if your crop will be any better than it was this year? Plus your stupid President is f'ing up the futures market which will probably mean LESS SOY will be planted this year.
A year is a long time in Argentina. The peso could be 15/1 at this time next year or 100/1 who knows.
So it can rain or not rain it won't effect my life one way or the other.
I think Argentina should intervene in the energy sector and set the prices through YPF to keep the industrial production profitable and competitive. Apparently not even the government can afford the electricity bill, how do they expect a family to afford it? A electric bill can't exceed 6% of single person income.
Jul 30th, 2012 - 06:36 pm - Link - Report abuse 0Most people in RGland do not realize that 80% of this years crops in Argentina have been sold at last years prices..........it's called Commodities and Futures trading.
Jul 30th, 2012 - 06:47 pm - Link - Report abuse 0Just saw Team GB beat Argentina in the Hockey, trounced the cheats 4-1 should have had better training facility's other than a war memorial Argys. Give my regards to Chrissy.
Jul 30th, 2012 - 09:07 pm - Link - Report abuse 0Wow the Brits are posting and bragging about some sports result all over the website...
Jul 30th, 2012 - 09:16 pm - Link - Report abuse 0Did they win the Word Cup or something?
hahaha
More good news =)
Aug 01st, 2012 - 08:36 pm - Link - Report abuse 0Commenting for this story is now closed.
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