Argentina to nationalise Spain oil company

before someone says we should do it.

That isn't a hindrance to the plans of the 1%. Not in the slightest.

What is illegal under the Constitution is taking without "due process" and "just compensation". YPF Repsol will most likely get something.

Usually South American countries don't provide such.

That is OK with me though. If you're in Peru take your property back from them.

Not necessarily as much as the current owners might like, but they generally got it themselves by use of force in the first place, so ...

that they have nothing better, like the law, on their side.

But if you have evidence that Latin American countries frequently nationalize businesses without compensation, please do provide it.

Just so I have it straight, your original assertion was that nationalization was illegal under our constitution. You then back tracked to a lesser assertion that taking without compensation was illegal (and we can all agree that is true,) and added a new assertion that Latin American nations nationalize without compensation "usually", where usually means to me "more often than not".

and figured they would gain more from this action then they will lose in the inevitable retaliation.

As a matter-of-fact we should nationalize them all and keep the profits for the citizens of the US.

The 4th & 5th amendment specifically disallow just siezing any property without just compensation or due process.

to make their blood money profits?

on their countries to retaliate in some way. As I suspect Argentina will find.

It could be that they do little business with Spain so this won't hurt them much (not saying that is the case, I really don't know).

But the US and Britain? Yeah that's not really a trade war we want to start.

Foreign owned companies have been successfully nationalized in other countries. The American copper mine that my dad worked in for forty-four years in Chile was nationalized shortly after he retired. It was a big improvement for the lives of the Chileans who worked there and the profits go to social programs in the country.

leaves doubt as to whether Argentina expects to pay for the 51% they will nationalise.

not unlike the Falklands.

The current government must think there are some real problems at home

except of course for the heavy handed neocolonial attitude of the first world powers. There appears to be an underlying, pun intended, motive here: a shit ton of shale oil and gas that will become quite valuable as oil prices continue to rise. Argentina thinks perhaps most of that value ought to go to the Argentinian people, the usual suspects from the global financial elites have other ideas. I know where I stand.

Normally I side with the home countries as long as fair compensation is paid. It is not clear if some compensation will be paid or not, but normally that is what happens.

However, I am not so sure about their thinking. With the current government doing the Falklands dance to distract the people again, I wonder if anything major they do has the same intent. Should the current government fall and a new one arise that also supports nationalization and does not appear to be trying to distract the populace, I would be quite supportive

is the discussion of the potential future value of oil resources in Argentina. The truth leaks out if you look hard enough for it. Besides, when every major media outlet is speaking with one voice on a subject like this, I'm generally confident that the opposing viewpoint, the one not being discussed, is the one with merit.

This should the pie holes of repugs up here saying we aren't competitive with the rest of the world.

The vast majority of the people who live on the Falkland Islands want to keep it the way it is. Argentina has no claim real or imagined.

I know it looks odd that England should have sovereignty over it, but Argentina has no business taking it.

Argentina's defiance on YPF strikes chord at home
Tue Apr 17, 2012 3:07pm EDT
By Helen Popper and Hilary Burke

BUENOS AIRES, April 17 (Reuters) - Argentina's drive to seize control of leading energy company YPF from Spain's Repsol may have outraged European trade partners and foreign investors, but many ordinary citizens hailed it as virtually heroic.

The move by combative President Cristina Fernandez appealed to Argentines who are critical about the vagaries of global finance and the controversial privatizations of the 1990s - a decade remembered for rampant corruption and factory closures in Latin America's No. 3 economy.

Fernandez loyalists pasted "Thank You Cristina" posters on government buildings in the capital Buenos Aires and supporters of the expropriation drive praised the president's boldness.

"It's about recovering what's ours," said Julio Olaz, a passerby in downtown Buenos Aires. "We need to get together and make sure Argentina belongs to Argentina and not to foreigners."

The takeover move could help Fernandez regain the political initiative after a series of unpopular policy moves and a corruption probe involving her vice president that have eroded her approval ratings since her landslide re-election in October last year.

More:
http://www.reuters.com/article/2012/04/17/argentina-ypf-idUSL2E8FGG5620120417?rpc=401