Yet more Argie stupidity over the Falklands – stealing Repsol
THE Argentinian Government has just decided to nationalise steal a Spanish oil company.
The Argentine government has been tightening the noose on Repsol over recent months, withdrawing operating licences and accusing the company of failure to invest adequately in its Argentine operations.
Yes, yes, that really works, doesn’t it? Encourage more foreign investment in the country by confiscating foreign investment in the country.
Sadly the fools have a track record on this sort of stuff. We Brits built most of the railways in that country (indeed, my own gg grandfather built railways in S America) and the Argies nationalised them some time back. Anyone who’s been to the country will know that no one’s really spent any money on them since.
And nicking an oil company is such a stupid thing to do at the moment anyway. The whole fight over the Falklands is over whether there’s oil our there in the South Atlantic. And if there is and Argentina wants to then they’re going to have to use one of the big oil companies to drill for it. And there ain’t no one who is going to invest billions doing so if you’ve just nicked all the cash from the last person who invested in your oil.
It’s not that they’re foreign that makes them so bad, it’s knowing they’re stupid which is so sad.
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Argentina's President Cristina Fernandez adjusts her hair during her announcement of a bill to nationalize Spain's Repsol controlled oil company YPF, at Government House in Buenos Aires, Argentina, Monday April 16, 2012. Fernandez said in an address to the country that the measure sent to congress on Monday is aimed at recovering the nationÂs sovereignty over its hydrocarbon resources. (AP Photo/Natacha Pisarenko)
Posted: 17th, April 2012 | In: Money Comments (2) | TrackBack | Permalink
