World
Institutional
links
Welcome back on
26 -29 August,
ONS 2008
Bridging
the energy gap
is ONS 2006 theme,
from 22-25 August,
in Stavanger, Norway
Petroleumworld
Business
Partners:
Centre for
Global Energy
Studies
  |
What is going on with Argentina?
By Byron King
The Daily Reckoning
AUSTRALIA
Petroleumworld.com 09 13 07
On the one hand, we sing its praises at Agora and Doug Casey lives there and loves it. Rick Rule has companies that he recommends, that are one-trick Argentine ponies, and I don’t mean polo ponies. Bill owns the Rancho, as we all know.Yet the government is doing everything it can to wreck the energy economy. Look at this mess below, with Shell (NYSE:RDS.A). There are price controls on oil & fuel, so there’s no production, and no import…and then they issue arrest warrants for the Shell executives? Can someone explain to me how this is business friendly? Or is this just high-visibility populismo & PR for the masses, and deep down nobody goes to jail? At least, winter is coming to an end down there and the weather will be warming up.
Here’s the story from MarketWatch:
“’BUENOS AIRES (MarketWatch) - The Argentine unit of Royal Dutch Shell plans to send letters Thursday to its service stations declaring a force majeure, citing a government order to shut down its refinery, Shell Argentina President Juan Jose Aranguren said.
“‘Shell Argentina began shutting down its Doc Sud refinery in Buenos Aires after receiving an order from the government’s Environmental Ministry on Wednesday night. “We have a situation of force majeure, and we consider it out of our control,” Aranguren told reporters during a meeting at Shell Argentina headquarters.
“‘The shutdown order is the latest in a string of clashes since 2005…price controllers have since fined Shell for allegedly failing to supply the market and sought arrest warrants for Aranguren and other Shell Argentina executives.’”
The Daily Reckoning Australia
September 12, 2007Copyright© 2007 Port Phillip Publishing Pty Ltd. All rights reserved.
Your
feedback is important to us!
We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com
Any
question or suggestions, please write to:
editor@petroleumworld.com
Best
Viewed with IE
5.01+
Windows
NT 4.0, '95, '98 and ME +/ 800x600 pixels