Scary Argentine Budget!

[scotttswan]

Its looks like the Russians are heading into a ditch too. I was just reading something yesterday about a frantic rush to buy dollars in Moscow as the ruble is going down fast and inflation is raising it head. Sounds like some other country I heard about.

Hmm i propose rampant inflation is a contagious disease that Cristina has. It's obvious, anyone she becomes friends with gets it. How's Angola doing?

oh it's been going down, there goes that theory. :lol:

 

[Pensador]

Russia in crisis...? Whoda thunk...

http://money.cnn.com/2014/12/18/news/economy/russia-economy-10-things/index.html?iid=HP_Highlight

Gosh I wonder who is next. The Yanks?

 

[Somewhereinba]

http://www.rigzone.com/news/oil_gas/a/136446/ExxonMobil_Says_Hits_More_Shale_Oil_Gas_In_Argentine_Region

 

[Pensador]

http://www.rigzone.c...rgentine_Region

"It has the world's second-largest shale gas resources and fourth-largest shale oil resources but officials say financing is beyond the reach of state-controlled energy firm YPF and regional governments."

Does not stuff like that just make you put you head down and shake it. It is like they have potentially billions in the bank but it is buried in the earth and because of all money and economic games and shenanigans they cannot get the resources they need to get it out effectively. And now with Russia broke too they wont be getting any help there or at least it is less likely. And with the energy deficit burning like wild fire they are actually go back wards and not forwards. What a shame.

 

[Matt84]

"It has the world's second-largest shale gas resources and fourth-largest shale oil resources but officials say financing is beyond the reach of state-controlled energy firm YPF and regional governments."

Does not stuff like that just make you put you head down and shake it. It is like they have potentially billions in the bank but it is buried in the earth and because of all money and economic games and shenanigans they cannot get the resources they need to get it out effectively.

At the moment, in comparison to Arabian oil, shale has become again too expensive to extract under any political climate.

 

[Pensador]

Yes it certainly has so much for that idea...

 

[Somewhereinba]

At the moment, in comparison to Arabian oil, shale has become again too expensive to extract under any political climate.

Shale can be extracted for profit even at these prices with a well run enterprise that knows what it is doing and has the resource that doesn't leak money everywhere. Unfortunately working with the Argentinian Government means that is unlikely. A lot of good operators at Eagle Ford are still profiting at these prices.