Argentina’S Oil Fiasco No Surprise

[camberiu]

One year after Argentina’s nationalization of YPF, the country’s biggest oil company, our forecasts have come true: the firm’s energy production is falling, its debt is rising, and its board has just awarded itself a generous raise.
It’s a movie we have seen many times before — most recently in Venezuela, Bolivia and Ecuador — but the fact that Latin American governments insist on adopting pseudo-nationalistic policies that have failed everywhere never ceases to amaze me.

Read more here: http://www.miamihera...l#storylink=cpy

 

[ajoknoblauch]

But can't we expect the Camporista miracle workers to turn things around in short order, just as they did with Aerolíneas?

 

[Rich One]

Chevron may go ahead with the Shale Oil/Gas project , Now that the asset embargo was lifted...!! OJO...!!

 

[cbonanni]

The impending oil crisis is very serious. The k are spending reserves like crazy. Close to US$4 BILLION on fuel imports this year alone. They cannot contract cargo's of LPG as they have no credit and must pay cash in advance , prior to vessel loading. Then weeks for the cargo to arrive , be unloaded and distributed. And Moreno freezes gas price looking for votes !!

Depending on the severity of the winter , I am predicting fuel shortages , gas lines , rolling natural gas outages , and industrial supplies of gas cut. YPF is unable to refine a fraction of what the countries needs.

The Chevron deal is years ( 10 minimum ) away from producing anything. Then there is no infrastructure to get the shale crude and gas from patagonia to refining or distribution facilities.

It may be a long cold winter. How many vote will it cost the k's in October ? Another huge mistake by them is going to cost the big.

 

[scotttswan]