Nationalization of oil industry in Argentina Essay

Nationalization of oil industry in Argentina - Essay Example On the other hand, Argentina believes that they have enough authorities and freedom to formulate policies which are necessary to safeguard the interests of the country. This paper critically analyses the decision to nationalize oil companies in Argentina. Table of Contents Oil & Gas Report Argentina.Q1 2013. (2012). Business Monitor International. November 2012. p.1-93. 11 Romero, S. and Minder, R. (2012). Argentina to seize control of Oil Company. The New York Times. April 16, 2012. 11 Sprinkle, T. (2013). For Argentina’s Nationalized Oil ‘Industry’: A Year of Nothing Retrieved from http://finance.yahoo.com/blogs/the-exchange/argentina-nationalized-oil-industry-nothing-232525794.html 11 Introduction â€Å"Exactly a year ago, Argentina President Cristina Fernandez de Kirchner announced to the world the expropriation of 51% of Argentine oil company YPF from Spain's Repsol† (Sprinkle, 2013). The declaration of President Cristina was totally unexpected and too k by surprise by many countries. In fact, Spain was shocked by this announcement because of the problems this decision might cause to Spanish economy. It should be noted that Spanish company Repsol is the 15th largest petroleum refining company in the world according to the recent statistics. Moreover, the growth of Repsol is contributing heavily to Spanish economy. Therefore Cristina’s decision has the potential to affect Spanish economic growth in one way or another. Spanish ministers have already warned Argentina about the possibility of a diplomatic and industrial war with Argentina. Before the arrival of Argentina’s decision, the common belief in Latin America was such that countries in this region can develop properly only with the help of privatization and liberalization like policies. That is why Cristina’ decision caused plenty of surprises, not only in Argentina, but also in other countries in Latin America. Cristina is one of the most popular administ ers in Latin America. Moreover, she has taken this decision after a cabinet meeting. In other words, Argentina has taken this decision after a comprehensive debate. They know very much about the benefits and problems this decision might bring to Argentina. In a heavily globalized world, countries are contesting heavily to attract foreign direct investment as much as possible because of the awareness that internal resources alone may not help a country to develop properly. Even communist China does not have any problem in welcoming foreign companies. Moreover, majority of Argentina’s neighboring countries are engaged in activities to welcome foreign direct investments. Under these circumstances, Argentina’s decision surprised many countries, especially Spain. Nationalization of Oil Industry in Argentina It is necessary to know the size and characteristics of Argentinian oil industry before, discussing the merits and demerits of Cristina’s decision. The following table provides a rough idea about Argentina’s petroleum data from 2010-2016. (Oil & Gas Report Argentina.Q1 2013, 2012, p.8) From the above table, it is evident that Argentina’s proven oil reserves may remain unchanged, at least for another three years. At the same time, the total net petroleum exports started to decline from 2010 onwards.

Its an Argument-Source Paper on American Social Problems... My topic Research Proposal

Its an Argument-Source Paper on American Social Problems... My topic is Alcoholism - Research Proposal Example It is not only the media to blame for the radical directional change; the government has contributed to this course overwhelmingly by failing to enact stiffer laws to control alcohol consumption. By failing to launch massive anti-alcoholism campaigns, the government and the media have failed many families and individuals. The effect of alcoholism on families is immeasurable (Mezzasalma). Sander, when describing what became of their family when his father was enslaved by alcoholism says, â€Å""My brother became a rebel, my sister retreated to shyness†¦" (67). He further reiterates that what he considered â€Å"a private grief† was actually, â€Å"a public scourge† (138). As such, alcoholism qualifies to be a social problem that affects all the societal aspects, legal, economic, and political (Oshea 14). Quitting alcohol is a momentous task that requires everyone’s involvement and the government and the media cannot relent (Pittman 18). It is high time that all stakeholders should stand to be counted for doing what is right, regardless of the political implication, to fight alcoholism. Alcoholism is a monster that has destroyed many resourceful persons, broken many families, and cost lives and should be fought at all cost. Mezzasalma, Lorena. "Characteristics of Alcoholics Attending Clubs of Alcoholics in Treatmentà ¢ in Italy: A National Survey ." Oxford Journals | Medicine | Alcohol and Alcoholism. N.p., 3 Nov. 2011. Web. 3 May