An international incident could be brewing in South America

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On Friday – the Spanish government delivered a warning to Argentina – threatening that Argentina will become an “international pariah” if it moves forward with nationalizing a Spanish energy company. The energy company YPF – one of the largest oil and gas producers in Argentina – was bought out by the Spanish company Repsol in 1999.

But now – Argentina wants to take back Repsol’s 57% share of the company – and hand it back to the Argentinean people. Spain’s foreign minister took the threat a step further saying that plans for nationalization would be seen as “aggression” against the Spanish government as well. Regardless of the international consequences – Argentina is on the right track – and all countries of the world should work toward nationalizing their natural resources.

Thom Hartmann Administrator's picture
Thom Hartmann A...
Dec. 29, 2009 10:59 am


Thom said:

"Regardless of the international consequences – Argentina is on the right track – and all countries of the world should work toward nationalizing their natural resources. "

Karolina says:

Nationalizing their natural resources AND their bank !

Karolina's picture
Nov. 3, 2011 7:45 pm

Good for Argentina. We need to start doing that in the US though the populace has been SO BRAINWASHED against such things. I'd love to see the telecom monopolies nationalized. Those greedy SOBs along with Hollywood hate our freedom of speech on the Internet. Taking away their cash cow and watching them cry when we do it would make great entertainment.

captbebops's picture
Jul. 31, 2007 4:01 pm

Oil is energy and the more we use the less there is and the more the wealth is concentrated into fewer hands. These hands are greedy and use this money to lobby government to use their military machines to secure even more oil fields and to thwart any talk of nationalizing oil.

Argentina is home to Bridas oil which was one of the companies bidding against Unocal for a piece of the Centgas project.

Bridas began expanding into the Central Asian energy sector in 1987, and secured its first large-scale contract (gas exploration rights in Turkmenistan), in 1992.[5] Between 1995 and 1997, CEO Carlos Bulgheroni was personally involved in negotiations between Bridas and the governments of Pakistan and Turkmenistan, as well as the ruling Taliban faction in Afghanistan, to build the Trans-Afghanistan Gas Pipeline.[6] These negotiations were in competition with those undertaken by Unocal,[7] and although an agreement with Unocal-led corporation CentGas was reached, the deal was forfeited in January 1998 in favor of one with Bridas.[8] Instability in Afghanistan delayed construction of the pipeline, however, and following the United States Invasion of Afghanistan in October 2001, the Bridas contract was rescinded in favor of the former one with Unocal. In 2006, Bulgheroni indicated interest in Bridas' involvement with the Trans-Afghanistan Pipeline project, which continued to be hampered by the ongoing war in the Central Asian nation.[9]

The Bulgheroni family sold 60% of Bridas to Amoco in 1997 for US$550 million,[1] and in turn, established a joint venture with British Petroleum, Pan American Energy; Bridas and BP purchased Houston-based Allis-Chalmers, in 2006. The company sold its 40% stake therein and other assets, totaling an estimated US$5 billion (around half the company's total), in 2005 to China National Petroleum,[3] in a bid to gain greater access to the growing Chinese energy market.[6]gas Pipeline project in Afghanistan prior to 9/11.

Choco's picture
Jul. 31, 2007 4:01 pm

Thanks for the info. I wouldn't have thought to look that up.

nimblecivet's picture
Jul. 31, 2007 4:01 pm

I think we need to arrest the US oil tycoons for treason and form a cooperative government entitiy to take over the oil and gas industries. These companies are motivated by profit alone and manipulate all avenunes of oil production and delivery to maintain a monopoly and avoid competition. The oil companies use our military to subdue and persuade other countries into giving up their resources, they take oil refineries offline increasing demand while decreasing supply even as demand by the public decreases. They supress green energies because they hate competition and they use their considerable profits to further corrupt government and the democratic process. Time to arrest the oil tycoons and their boards of directors for high treason and for egregious harm to all for the promotion of global warming and ozone depletion. They threaten the planet itself and will not stop because they are socio/psychopaths.

Choco's picture
Jul. 31, 2007 4:01 pm

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