saucy doubts and fears

YPF: The joy of Rajoy

Argentina’s newspaper of record, La Nacion, isn’t anything close to being a mouthpiece of the Kirchner government and is usually either making snarky undercurrent comments against Prez CFK or outright opposing her. So to see the paper running this story today makes the subject matter all the more interesting. The report is all about Spanish Prime Minister Mariano Rajoy and his reaction to Argentina’s nationalization of YPF, that plays against Spain’s Repsol. This week he said:
“It’s unjustifiable…it greatly affects the international reputation of Argentina.”
But here’s the fun bit. Back in 2008 when Repsol was in line to be bought by Russia’s Lukoil, here’s what Mariano Rajoy said then:

“Our petroleum, our gas and our energy cannot be put into the hands of a Russian company because it would convert us into a 5th division country.”

So, how’s this work again? Repsol’s production in Argentina is Spain’s oil and if those sneaky Russkies try to cut in on the deal it’d relegate Spain to the 5th division, but Argentina daring to claim that the oil produced in its country should be Argentine rather than Spanish is a totally unjustifiable stance and a bad bad thing. Ahhh, politics….

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