[lbo-talk] Argentina nationalizes Repsol's oil firm, YPF

Fernando Cassia fcassia at gmail.com
Mon Apr 16 15:39:22 PDT 2012


On Mon, Apr 16, 2012 at 17:10, Dennis Redmond <metalslorg at gmail.com> wrote:


> Any move towards greening these new state
> assets? Or at the very least, putting the energy-rents into an SWF?
>

Greening?. there's some small-scale wind farms and a law promoting renewables, but very small scale, still.

Sadly govt looks at nuclear with a 'national technology development' and 'energetic independence' angle. That is a 1950s midset. So, if any renewables push happens, it will be in parallel with, not instead of, nuclear.

SWF plans: None that I know of.

The move was driven by Repsol's low investment in exploration while it boosted its exports (and profits) while promising to invest more in exploration -which never happened-, that left the country with dwindling reserves and booming costs due to required energy imports to sustain the current economic growth.

FC



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