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YPF S.A. Message Board

  • lonewolfed lonewolfed Mar 24, 2012 8:18 AM Flag

    Una Idea Muy Bien....

    Great idea, yank the say I'm a foreign oil company with resources to invest anywhere in the world. Would I want to go to Argentina, where they cap the price of a barrel at a ridiculously low price, and they demand I spend all my profits producing more oil. Yes that is right they would basically want me to work for free....or I could go somewhere else where oil concessions mean they are actually mine and I get to make a huge profit. No one else is going to want your concessions now...great job!!!!

    The government there seems a bit short sited. Sorry about the bad economy, welcome to the rest of the world.

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    • Excellent comments! The Government is trying to "fine tune" the economy and as in the past efforts of other Argentine Governments it will result in failure. Inflation this year will probably hit 30%, right up there with Venezuela.

      Yesterday I went to China Town to buy some Salmon and in the past 2 months the price has gone up from 90 to 150 pesos a kilo. Last year it was 70 pesos a kilo. Everything is going up and this government’s days are numbered.

      By the way, I assume you meant to say in Spanish Una idea muy buena (a very good idea) because the way you wrote it translates into; An idea very well (Una idea muy bien).

    • While the macro, losing concessions, looks bad. The micro is actually helpful in this situation and here's why.

      According to the article in the WSJ,
      "The concessions, known as Ceferino and Cerro Mollar Norte, produced negligible amounts of oil and gas..."

      negligible = infinitesimal.

      Probably bullish, I hope they never take that concession back, it's a loser.

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