Argentina has gone/will go from being an Oil exporter to an Oil importer in 2014, and has already gone from being a net exporter of energy to a net importer. Their government can pretend that they have options, but there really is no option. For now, Argentina will be able to import Oil, mostly from Nigeria. But given their capital and currency situation I doubt that Argentina will be much competition for the big importers.
Argentina's current government will not survive this. The economic basket case of South America will soon be the political basket case of South America. The government has already nationalized YPF, the former state Oil company. Since the government has already hit the pensions and the Central Bank Reserves there is really nothing left to seize. America's Left should take a good, long, hard look at Argentina.
The entire world's debt enslavement machine should take a good, long, hard look at all of the unpaid judgments that have been stacked up against Argentina by World Bank's International Centre for the Settlement of Investment Disputes et al. Those debts, like the American Student Loan portfolio, will never be repaid. "Not now. Not never! Ever!" - the Great Oz
So it should be interesting to watch Buenos Aires go off. They were always so much fun to watch, but this time might not be so much fun. This time, I think its different.
Subscribe to:
Post Comments (Atom)
6 comments:
Interesting watching all this in real time. What will be fascinating is when americans finally wake up to the economic reality that they currently in. I would guess that fewer than 10 percent are aware of the precarious state we are currently in. When I try to explain debt energy etc to family I might as well be speaking a foreign language. I think we will find out this year exactly how economic the shale gas miracle really is. Im betting that coal will be back in first place as largest energy .source. im glad you're back posting Greg I look forward to your insights over the next year. Im sure you will not have a lack of topics.
CM: Yes, I am back to blogging.
I expect to have much to ramble on about this year.
Well glad to see you're back Greg. We always had the best discussions over here something that was lacking elsewhere.
So many blogs out there are only interested in fluff and making each other feel good.
The world seems to be coming apart at the seams these days once again doesn't it?
Glad to see you are back! Hope you are in good health. How's that NY winter you're having there in Tennessee?
I read that Argentina has over 500 billion barrels of oil in tight shale, but, just like Venezuela, is too politically screwed up to get oil out of the ground. Have you heard of this?
Best Regards,
Coal Guy
Our progressive VIP's have been watching Argentina. They see their counterparts staying in power and getting richer, while the common man gets poorer. They see the evil national military starved and fangless, and a police that is militarized. They see a nation disarmed and unable to resist. They see more citizens dependent on the goverment and voting accordingly. In short, they see a modern feudal age, with themselves as the aristocrats.
They like what they see.
Hello Tweel, CM, Pioneer, and Coal Guy!
I look forward to our debates with great anticipation.
Post a Comment