MercoPress. South Atlantic News Agency
Falling oil prices comes as a blessing for dollar-short Argentina
The slump in global oil prices will reduce Argentina's energy import bill by several billion dollars, a development that could ease pressure on the Central Bank’s strained foreign-currency reserves, according to Economy minister Axel Kicillof. Read full article
Comments
Disclaimer & comment rulesAh at last, a light from the end of the tunnel,
Dec 04th, 2014 - 10:18 am - Link - Report abuse 0its ok,
its a train coming towards us, RUN...lol
Must be quite worrying when your 'Plan B' is dependent on variables beyond your control.
Dec 04th, 2014 - 10:30 am - Link - Report abuse 0Axel may have dodged the bullet this month but the clock is still ticking.
I expect his Plan C involves a either
a) bulk-buying adult diapers
OR
b) a one-way ticket to Cuba
“Asked to put a figure on the reduction, Kicillof said the government was still crunching the numbers.”
Dec 04th, 2014 - 10:36 am - Link - Report abuse 0I can picture Axel shuffling through mounds of paperwork in his office asking ”Which of these numbers are the real ones and which are from INDEC?
And what does it do to the value of Vaca Muerte ?
Dec 04th, 2014 - 11:08 am - Link - Report abuse 0And prices at the pump go up instead of down....
Dec 04th, 2014 - 11:12 am - Link - Report abuse 0“YPF CEO Miguel Galuccio earlier this week dismissed speculation that the world slump in oil prices would lead to a cut back of investment in Vaca Muerta, Argentina's promising shale formation that the government is counting on to become energy self-sufficient.”
Dec 04th, 2014 - 11:14 am - Link - Report abuse 0In his dreams! Ha, ha, ha.
“Argentina produces 90% of its energy needs, government data shows, and it imports the rest.”
Oh, oh, TMBOA nose just grew a kilometre or two! 90% of its energy needs must be conditioned on a total blackout of the country. That is highly likely soon.
This item must have bee written by INDEC.
Vaca Muerta needs at least 200 Bn US$ worth of investment over the next 10 years or so to make Argentina energy independent again.
Dec 04th, 2014 - 11:41 am - Link - Report abuse 0Where on earth are they going to find the investments now after the oil price collapsed??
What good news! Now argieland can start to pay its debts. Perhaps US$90 billion for the shareholders of those crap bonds. Don't forget to keep paying the Paris Club! Then argieland can dig out all those judgements from around the world and start paying them.
Dec 04th, 2014 - 12:07 pm - Link - Report abuse 0Well he is correct, you can't have a cut back when its almost 0 investment going on in VM.
Dec 04th, 2014 - 01:02 pm - Link - Report abuse 0As I told Toby it really doesn't matter what the price of oil is, if you don't have the U$ to buy it you can't buy it.
Very simple.
Car sales dropped 45% this month. Very soon the Auto Mfg are going to realize even with the gov't paying them to keep the workers working it won't matter. You can't build anything if there no buyers
I am still thinking 2015 will be fun to watch.
really fun
Its not to difficult Axel, you dont need to be an economist to know what is wrong with Argentina, just look at this graph and start cutting on spending, urgently.
Dec 04th, 2014 - 02:15 pm - Link - Report abuse 0https://pbs.twimg.com/media/B3825IVIgAA0oJz.jpg:large
Well the economic noose starts to tighten a little around Putin and rotting roadkill. So the rotting roadkillians are committed to being a producer of commodities (lacking the basic education or ability in value added matters) and energy and food are plummeting in value. Singer etal may occupy his assets sooner rather than later.
Dec 04th, 2014 - 06:08 pm - Link - Report abuse 0TWIMC...
Dec 04th, 2014 - 09:20 pm - Link - Report abuse 0Normally, I leave Fox Business Channel to the Capitalist Yankee Turnips...
But this latest little Fox gem about Argentina is too good not to be shared... :-)))
http://video.foxbusiness.com/v/3911522519001/is-america-or-argentina-better-for-investing/#sp=show-clips
Think sounds desperate… no one looks! Fox News, Americas Finest News source… .Or, is it The Onion? Bahahahaha. http://www.theonion.com/articles/world-leaders-gather-to-discuss-how-fucking-amazin,37591/
Dec 04th, 2014 - 10:24 pm - Link - Report abuse 0@13
Dec 05th, 2014 - 03:02 am - Link - Report abuse 0Fox News is what 99% of posters here use for news, and I'm willing to bet you money.
Cheap Oil !! A world glut!! Shale oil everywhere!!!
Dec 05th, 2014 - 03:20 am - Link - Report abuse 0Who is gonna invest in Argentina's Vacant Myrtle deposits - nobody!!
@12
Dec 05th, 2014 - 03:34 am - Link - Report abuse 0Forget about that. Yesterday was the first time in 142 years that a change at the top of the world GDP rankings has occurred.
finance.yahoo.com/news/official-america-now-no-2-150936444.html
USA USA USA................................................ #2!!!!!
HAHAHAHAHAHAHAHAHA
Get used to it, yankeboy! I think you should change your name to 美國第二中國第
哈哈哈哈哈哈哈哈哈！！！！！
@15
Dec 05th, 2014 - 05:44 am - Link - Report abuse 0Since the Oil Shale/Tar Sands/ Iraq @ Libya pushing out more oil/Saudi discounting Oil Sales around the globe.... the answer is no one.
@16
Dec 05th, 2014 - 12:10 pm - Link - Report abuse 0And Argentina is ? PMSL
@18
Dec 05th, 2014 - 02:57 pm - Link - Report abuse 0Who cares? Do you?
I think a bigger issue here is:
Dec 05th, 2014 - 03:28 pm - Link - Report abuse 0The population of the USA = 317,000,000
The population of China =1,357,000,000
With there figures, a billion more people in China than the USA, why did it take this long tobi? They should have had a larger GDP from the start with a billion more people than the USA.
tobi are you playing greek because dad is greeking you at home? Does he give you a doughnut to sit on for a sore ass?
China's figures are hardly more reliable than INDEC. I would give it another decade and see if they're still in the top 5. My guess is they'll collapse before that.
Dec 05th, 2014 - 03:45 pm - Link - Report abuse 0Even with U$3T in reserves if they had to conform to Int'l standards I think they'd be bankrupt trying to save their banks.
Give it time.
The Chinese “miracle” is like the Won Decade, all an illusion.
21 yankeeboy
Dec 05th, 2014 - 04:32 pm - Link - Report abuse 0Agreed, but they will still be commies because it works!
Well it does for the commie leadership.
@21
Dec 05th, 2014 - 05:44 pm - Link - Report abuse 0:(
http://beforeitsnews.com/financial-markets/2014/07/signs-that-economic-numbers-are-being-manipulated-2735860.html
“ Initially, they told us that the U.S. economy only shrank by 0.1 percent in Q1. Then that was revised down to a 1.0 percent contraction, and now we are being informed that the economy actually contracted by a whopping 2.9 percent during the first quarter. So what are we actually supposed to believe? Sometimes I almost get the feeling that government bureaucrats are just throwing darts at a dartboard in order to get these numbers. Of course that is not actually true, but how do we know that we can actually trust the numbers that they give to us?
Over at shadowstats.com, John Williams publishes alternative economic statistics that he believes are much more realistic than the government numbers. According to his figures, the U.S. economy has actually been continually contracting since 2005. ”
- - -
Meanwhile in thes streets of your flagship city its
Burn baby burn
:(
哈哈哈哈哈哈
23 Giorgio
Dec 05th, 2014 - 08:54 pm - Link - Report abuse 0Quoting an article from the “Before It's News” website.
Maybe you should have also given links to other articles on their website like:-
Ruins Of Ancient City Found In Antarctica
http://beforeitsnews.com/blogging-citizen-journalism/2013/03/ruins-of-ancient-city-found-in-antarctica-2446084.html
Mysterious Humanoid Caught Next To Mars Curiosity Rover
http://beforeitsnews.com/blogging-citizen-journalism/2013/03/ruins-of-ancient-city-found-in-antarctica-2446084.html
@24
Dec 05th, 2014 - 09:02 pm - Link - Report abuse 0He'll tell us how the Anunnaki are coming to show YPF how to extract oil from Vaca Muerta at a profit.
Toby, I was just in NYC shopping and it was lovely with all of the holiday decoration. I love it here!
Dec 05th, 2014 - 09:44 pm - Link - Report abuse 0In the future try to use a reliable source if your going to post nonsense.
The U$ is going up up up and its based on a growing economy.
Where I live there are help wanted signs everywhere and I keep getting emails from my suppliers with job openings.
Its hard not to be successful in the USA.
very hard.
@25
Dec 06th, 2014 - 05:41 am - Link - Report abuse 0What's wrong with the Annunaki?
The Anunnaki: are a group of deities in ancient Mesopotamian cultures (i.e., Sumerian, Akkadian, Assyrian, and Babylonian)
Dec 06th, 2014 - 03:26 pm - Link - Report abuse 0yes imoyaro, what is wrong with these GODS coming to help drill for oil? The RG's need whatever help they can get.
lololololololololololol
The Anunnaki were NOT Deities. They were confused as such.
Dec 06th, 2014 - 05:33 pm - Link - Report abuse 0Just as today, an argie woman in front of a European man is a Goddess, or a man with an pad computer is a God in front of an Amazonian man from a virgin tribe outside civilization.
Anything you say, pal, anything you say. My case rests. ;)
Dec 07th, 2014 - 01:34 am - Link - Report abuse 0“@13
Dec 07th, 2014 - 01:59 pm - Link - Report abuse 0Fox News is what 99% of posters here use for news, and I'm willing to bet you money.”
Do me a a favor in the spirit of debate.........support this number because I would just assume read the “National Enquirer” than watch or listen to FOX Cable News. Though I will admit to go through it to see what the extremists are up to.
(31) captain Poppy
Dec 07th, 2014 - 04:31 pm - Link - Report abuse 0Well..... It seems that the Fox “Extremists” are up into investing heavily in Argentina...
In the spirit of debate..., any comment about this video?
http://video.foxbusiness.com/v/3911522519001/is-america-or-argentina-better-for-investing/#sp=show-clips
Capt Poppy
Dec 07th, 2014 - 04:58 pm - Link - Report abuse 0Do you notice that one moment Think Turnip is criticising us for getting all our news info from Fox News, but now @32, he is beseeching us for the 2nd tome, to turn our attention to a news item he has posted from
... Fox News!!
Think-Turnip, you hypocrit, you're fooling nobody!
@31
Dec 07th, 2014 - 06:17 pm - Link - Report abuse 0Drink, or should I say “Borracho,” don't you and Chopper need to find an Afro-Argentine to stab to celebrate Christmas? I believe it's traditional. ;)
It is a bit funny Troy. What is funnier that if someone is looking to invest.......it's with the high risk portion of portfolios.....like when you buy junk bonds. Real estate is in the shutter as we tried getting rid of property and decided to wait it out. I mean....it's not like we live there....only visit.
Dec 08th, 2014 - 01:33 am - Link - Report abuse 0Cap, I think prices in BA will drop another 50% over the coming 2 years. They had a huge run up over the last decade and the city is collapsing. People will get desperate for u$ and sell at any price as BA turns into Caracas.
Dec 13th, 2014 - 02:15 pm - Link - Report abuse 0This is just the very very beginning of the down cycle.
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!