Argentina nationalizes Repsol

[RGacky3]

http://www.huffingtonpost.com/2012/04/22/repsol-argentina-ypf-nationalization_n_1444144.html?ref=world

Yup, and Spain is pissing themselves, the US is'nt getting pissed because unlike Venezuela or Bolivia the leader is'nt an outspoken anti-imperialist, and because the company they are taking it from is Spanish.

But this is definately a positive development in Latin America.

Now nationalization does'nt mean anything perse, you can nationalize and run as a public company, or just have the nationalization be a sort of public subsidy leaving it in private control.

So be careful when you see "nationalization." Although given the background of this nationalization it seams like it will be taken and run as a public company.

[Tim Finnegan]

Why is this a "positive development"? I'm not being sarcastic, I genuinely don't understand why we should see this as a good thing. :confused:

[danyboy27]

Why is this a "positive development"? I'm not being sarcastic, I genuinely don't understand why we should see this as a good thing. :confused:

Well, it cant be worst than having a private corporation extracting the ressources to their homeland for a ridiculous price, can it?

[l'Enfermé]

Why is this a "positive development"? I'm not being sarcastic, I genuinely don't understand why we should see this as a good thing. :confused:
This move will supposedly improve the material conditions of Argentinians, at the expense of no other people we care about, and if that is true(and all evidence seems to say it's true), then indeed this is a positive development.

[RGacky3]

Why is this a "positive development"? I'm not being sarcastic, I genuinely don't understand why we should see this as a good thing. http://www.revleft.com/vb/argentina-nationalizes-repsol-t170669/revleft/smilies/confused1.gif


As has been said before, having a natural resource used for the public good of a country under democratic oversight, is better than under private control for private good.

[Crux]

Here's our take on it: Argentina

Kirchner nationalises YPF petrol and provokes the wrath of imperialism (http://www.socialistworld.net/doc/5716)

[Delenda Carthago]

Apple of Discord" the energy of wealth

The plan of civil government to expropriate 51% of the Spanish multinational Repsol - YPF Sa even more confusing tangle of inter-imperialist rivalries in the region

The bill submitted by the President of Argentina Cristina Fernandez de Kirchner in Congress to vote for the "nationalization" of the largest oil company in the country Yacimientos Petroliferos Fiscales-YPF Sa, a subsidiary of the Spanish energy giant Repsol, has caused "earthquake" and a chain reaction worldwide </span>. The turbulence in global energy "chessboard" is great as it is trying to change the balance of power and redistribution within the imperialist pyramid by the bourgeoisie of Argentina with the country's wealth is converted into "apple of discord" for many suitors. </span>Under the plan, the majority shareholding (51%) goes to the state, against the Spanish multinational Repsol, which currently holds a 57.4%.

The bill was approved astrapiaio year by the Senate committee and then the Senate with the support of the opposition - including former president Carlos Menem and senator who had privatized the company voted in favor! </span>- Despite various objections to some of the 17 articles of the bill. Provided that the federal government will spend the 26.01% stake and local governments of oil-producing provinces in 26.99%. Not paid within one month for consultation regarding the transfer of shares, currently owned by Repsol, the 25.46% in Ashkenazi families through the Petersen Group, which carries out the chair and the 17.09% stake is public </span>consultation on the stock exchanges of New York and Buenos Aires.

The decision to "re-nationalization" of the company YPF - founded in 1922 by decree of President Ipolito Irogkigen and privatized gradually between 1993-99 - a decision in principle collectively change the energy scenario in Argentina itself was not a shock.
</span>In the interests of capital

Installations of YPF
The warnings of President Cristina Fernandez to Repsol - YPF on "re-nationalization of intent" had begun in January, when they had gathered the data for the financial year 2011, where all the country's trade surplus, $ 9.4 billion went </span>for the supply and importation of oil after two decades of energy self-sufficiency!

The Repsol YPF blamed for its policy in Argentina is governed by yperexoryxi oil reserves, which directs exclusively on exports, "utter lack of investment in research and development" and that he prefers "to invest in Alaska, the Gulf of Mexico </span>, the Caribbean and North Africa "while 90% distributes profits to its shareholders and pushes Argentina to be forced to import energy. "If this policy continues, the country has a future, not because they have rich resources but because of corporate policy," Fernandes said that during her speech to Congress stressing however that "this is not nationalization but the recovery of sovereignty </span>sources of wealth. " Recovery course not in favor of Argentine people as the "epanethnikopoiimeni» YPF will operate purely private economic criteria, supporting the domestic capital.

At the same time, the re-nationalization of YPF plans cause many questions about the future of the company and whether it has the possibility the government of Argentina to face the "challenges the funding of re-nationalization" and the operations or future investment in oil exploration </span>and above all the exploitation of one of the largest deposits of shale oil and natural gas is estimated that possibly corresponds to 12% of global gas reserves. </span>The ore deposit located in Vaca Muerta - between provinces Neuquén, Rio Negro and Mendoza, in the Argentinean Patagonia - and extends underground in an area of ​​30,000 kilometers, considered to have multiple investments by the amount "that will determine the federal courts as compensation in </span>Respol »according to President Fernandez and know that Argentina has not ... However, the monopoly groups are within reach. Data and claims of Argentina to recover the sovereignty of the islands Malvinas / Falklands (in Britain who holds) directly related to the oil found there and Antarctica, it is certain that this was not the Argentine "is nonsense </span>"as market analysts say, but has depth and is aimed at upgrading the imperialist pyramid.

"Tsunami" reactions and interest ...

The "tsunami" of reactions occurred first in the EU Absolutely expected since the Repsol-YPF Sa represents one third of the stocks of the Spanish giant, and therefore a major supplier to the EU, primarily in power and money, especially in light </span>the peak of the capitalist crisis and the embargo of Iranian oil. Besides these, the Repsol-YPF was the spearhead of political and economic expansion of Spain and by extension the EU, Latin American markets. From the first time the reactions of the Spanish government was angry and threatening, in taking "hard measures in retaliation." Throughout the week the "war" escalated. On Friday the European Parliament adopted by a majority, condemning non-binding resolution against Argentina, calling the move "unilateral and hostile, that does not promote dialogue," but says it will consider "a possible partial cancellation of unilateral tariff preferences" as </span>means to punish any country attempted to expropriate property SE. Spain has asked the EU to lodge an appeal against Argentina in the World Trade Organisation and the Ministry of Foreign Affairs of the EU countries will consider how to handle confrontation Argentina - Spain at their meeting tomorrow.

</span>However, analysts point out that all movements of Spain and the EU will not be effective because "Argentina has been taken out of global markets and has challenged earlier fines on international conflicts."

</span>Colombia and Mexico are two countries of Latin America also came in a dynamic way to "condemn" this move ... The partnership with the "camp of angry" is the explanation. On the other hand the Mexican monopoly, state oil company Pemex, are directly affected, and controls about 10% of Repsol, while the part of Colombia, especially the reactionary president Juan Manuel Santos, sees another "competitor" after Brazil </span>to emerge at a time when the shares "were upgraded."

It is worth noting that not a few analysts argue that Latin America will be the "next Middle East" or the new "energy Mecca" if estimates of stocks of Argentina confirmed, huge deposits of Brazil are beginning to enter the markets and as </span>Venezuela has long been the country with the largest proven reserves of oil on the planet, while Bolivia has the largest reserves of natural gas. All countries in the region without exception, and the Caribbean are rich in energy.

These perspectives are changing the energy data and is sure to escalate the rivalry and the struggle of the great imperialist powers for "booty" of the "new Middle East".

The "games" begin and so the pushing aside

In this light, should be seen as almost a "mild" reactions of the United States, literally "thirst" for energy. The U.S. initially pursuant to the notice of the State Department condemned "negative development" and urged Argentina to normalize its relations with Spain, the EU and the international community while the "discreet distance relationship" continued despite European pressure </span>to become that "fully support" the claim so far "Argentina to submit full financial details for assessment by the IMF" and supports all steps to achieve this goal.

</span>"A wrong move" described the action of the Government of Argentina the outgoing World Bank President Robert Zoellick and Foreign Minister Alain Juppe of France Alain supported the actions of the EU expressed its solidarity with Spain and stressed that "there can be no </span>expropriation without proper compensation. " However, the French giant «Total», rushed to get in touch with the transition team for YPF - until they passed the relevant legislative provision - led by Planning Minister Julio de Vido and Deputy Finance Minister Axel Kisilof.

</span>Rushed and already well rewarded according to Reuters, there are already preliminary agreement reached late Thursday between the Julio de Vido and a vice «Total» in the Americas Lantislas Paskevits, "to begin discussions on the expansion of production </span>gas at 2 million cubic meters per day in two areas related companies "ie Neuquén province. It is worth noting that its subsidiary «Total», is the largest gas producer in Argentina.

The Employment Summit and the G-20 and the spring meeting of IMF and World Bank. Of special interest is that on the sidelines of the meeting of G-20, the countries of BRICS (Brazil, China, Russia, India and South Africa) according to the news channel Russia Today have expressed their interest to invest in the Argentine economy, particularly in </span>YPF said the secretary of the Argentine Presidency, Gustavo Lopez. These developments are rapid and yesterday the Argentine Minister Julio de Vido went to Brazil "to present the draft re-nationalization of the company" while the press conference in Brasilia, having the side of the Brazilian Energy Minister Edson Lompao and after there had been a joint meeting with </span>the president of Petrobras, Maria Grassi Foster ing, de Vido formally invited Petrobras to increase its stake in the oil sector: "There zitoyme from Petrobras to replace Repsol, but we want to increase its participation" in areas that have </span>awarded ...

Obviously, the "first customers" were found among those dominated by the BRICS countries and of course China.

The China behaved as lost, since the information that accompanied the news of re-nationalization brought the Spanish company Repsol had already reached a non-binding preliminary agreement with the second-largest Chinese state company «Petrochemical Corp.» («Sinopec») for </span>sale of 57% compared to $ 15 billion, of course without informing the Argentinean side. Obviously this is a "hidden agenda" for the Repsol accusing the government of Argentina and the rapid reaction. Without can not be confirmed, it is quite likely that the Argentine government wants to negotiate directly with the Chinese company. However, the representative of Sinopec, Huang Ouesengk did not want to comment on the alleged sinking of the acquisition. Besides, Sinopec is the spearhead of penetration of China in Latin America. Argentina is no exception. H Sinopec has acquired the Argentinean subsidiary of Occidental Petroleum, together with the Argentinean Bridas from BP bought the Pan American Energy, the second largest supplier of oil and natural gas.

All this proves that the bourgeoisie of Argentina wants to negotiate hard to position in the imperialist pyramid. The moves are part of the competition and endokapitalistiko not deny the power of monopolies equal - equal to the support and can not be in favor of the people. Certainly in our country opportunists like SYN / SYRIZA rushed to celebrate the great initiative of supposedly "progressive leftist forces." Only the example of Argentina proves that without the people in his hands the keys of the economy, no populist solution can not exist. Only if you spend all concentrated in the energy production and wealth in the hands of popular forces with nationwide planning and working people's power can be harnessed to meet their own needs.</span>

google translated from Rizospastis (http://www2.rizospastis.gr/wwwengine/page.do?publDate=22/4/2012&id=14007&pageNo=24&direction=1)

[Crux]

Apple of discord? Hail Eris! Hail Discordia!