Wednesday, April 18, 2012

Oily offence...

And I don't mean rude wops or spics. Oh, hang on...Illegal, deceptive, pathetic, erroneous and lamentable...just some of the adjectives used to describe Cristina the clown's nationalisation of YPF, (playing to the crowd) bascially taking 51% of the total shares from the 57% -58% previously owned by Repsol** (according to La Razon' video: 'La Comunidad Internacional da la espalda a Kirchner'). They also reported that Repsol's president accused the Government of Argentina of having carried out a campaign of harassment, coercion and planned leaks to cause the collapse of the share price of YPF to facilitate their expropriation at bargain prices. Spain's Foreign Minister said "Argentina se ha dado un tiro en el pie" [EspaƱol] "Argentina has shot itself in the foot" [English]. Of course we know the real reason...
"President Fernandez has staged a coup de theatre which covered up, as far as possible, her failure at the Summit of the Organization of American States, held last week in Cartagena de Indias, Colombia. Cristina failed in all her objectives: she did not even get support over the Falklands..."
** From Repsol: Vaca Muerta (Shale Gas reserves): The cause of the Pillage? Repsol considers the announcement: • Unlawful • Discriminatory • Does not justify the public interest pursued • Obligations assumed at the time of privatization of YPF by the Argentinean state have been breached • Violates the international investment community confidence. • Consequently, Repsol will take all legal measures to preserve the value of its assets and interests of all shareholders. [from Full pdf on Energy Situation in Argentina]

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