MercoPress. South Atlantic News Agency
Argentina’s energy challenges according to The Economist: Flogging a dead cow
The Economist in its latest printed edition addresses Argentina’s challenges in the energy field including the seizure of a majority stake in YPF from Spain’s Repsol and the latest agreement with US oil company Chevron to exploit shale oil and gas. Read full article
Comments
Disclaimer & comment rulesSo stupid CFK is trumpeting that she was able to get Chevron to invest 1/35th of what they need IN A YEAR to releases U$19B in frozen assets.
Aug 02nd, 2013 - 07:06 am - Link - Report abuse 0She is in dire straights.
Nobody else is stepping up and Petrobras is looking to sell all assets in country.
They might as well get used to huge fuel import bills for a long long time
Imagine how corrupt and inept this gov't must be if companies that are used to dealing with all the scumbag dictators in the world and they won't even touch these huge potential reserves.
I don't think it could be more clear
It's too bad the population doesn't seem to see it.
I think the lights have already gone out in all too many instances.
Aug 02nd, 2013 - 07:12 am - Link - Report abuse 0They already started their stupid electricity rationing. Most of the K supports live outside the city limits, so they cut off electricity to those living closer to the center.
Aug 02nd, 2013 - 09:17 am - Link - Report abuse 0It was an initiative to make those that don't support the botox Queen to suffer a night of inconvenience. A poor three year old boy froze to death that night.
YPF won't keep their side of the deal, and Cheveron's investment has brought litigation along with it. This will end horribly.
“Ms Fernández issued a decree seemingly tailor-made for Chevron, which states that energy companies that invest over 1 billion will, after five years, be allowed to sell 20% of their production abroad without paying export taxes or being forced to repatriate profits.”
Aug 02nd, 2013 - 09:22 am - Link - Report abuse 0Oh, that's believable.
“Argentina’s energy industry is in a sad state. In 2011 the country became a net importer of energy for the first time since 1984, further eroding its foreign-currency reserves”
Aug 02nd, 2013 - 10:54 am - Link - Report abuse 0Wait, according to all the resident Nobel economic prize winners here, IMPORTS CAUSED NO DEBT!!!
If it causes no debt why would foreign reserves have to be used? What would be used instead to pay for these imports if it was not the reserves?
Maybe... bonds, i.e., debt???
NOOO.
Wait, according to all the resident Nobel economic prize winners here, IMPORTS CAUSED NO DEBT!!!
Aug 02nd, 2013 - 12:25 pm - Link - Report abuse 0Tobi like an Argentine politician, you are twisting words. In the free, non communist world, free enterprise imports, even oil, not the government. Perhaps you did not realize businesses are not owned by the government outside of Argentina. So tell us tobi, why is the government importing oil anyway? Why is private business not importing oil?
@6 Wait, according to all the resident Nobel economic prize winners here, IMPORTS CAUSED NO DEBT!!!
Aug 02nd, 2013 - 02:04 pm - Link - Report abuse 0Hang on, I can't see where that was said. Does it have anything to do with the lack of dollars? Like suppliers want payment in dollars. And argie companies don't have any!
Chris it makes you ponder why Argentina has such a problem when they cannot distinquish between government debt and import/exporting of businesses. Balance of accounts is Argentina's bank for access to dollars and their are too blind to see it.
Aug 02nd, 2013 - 03:21 pm - Link - Report abuse 08 Captain Poppy
Aug 02nd, 2013 - 03:47 pm - Link - Report abuse 0Thanks, I agree with every word I did not write!
But seriously that argie Nobel Prize winner just underlines how far the Nobel committee have moved away from Alfred Nobel’s intentions and they should be dismissed.
What a ludicrous thing to claim and no wonder that TTT jumped at it, they have no other clothes to hide themselves in.
The problems of The Dark Country are all self-inflicted and TMBOA will continue to run the country into the Plate until somebody stops her.
They have no-one to blame but themselves, including the voters who voted her in or are Peronistas, the vermin of SA.
5. Toby, If your economy generated profit you'd not need debt for imports. Why is concept so difficult for you to grasp?
Aug 02nd, 2013 - 04:12 pm - Link - Report abuse 0It works the same in a household.
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