Obama Administration Opposes Nationalization [McGehee]
The Obama Administration has stated publicly its opposition to the nationalization of a major corporation.
The United States on Wednesday said Argentina’s plan to nationalize leading energy company YPF was a “negative development” that could hurt the Latin American country’s economy and investment climate.
State Department spokesman Mark Toner said the United States was very concerned about Argentina’s bid to seize the company, controlled by Spanish energy group Repsol, and had raised its concerns with the highest levels of the Argentine government.
“Frankly, the more we look at this we view it as a negative development,” Toner told a news briefing.
Obama favored increases in offshore oil drilling — by Brazil. Now he favors leaving huge multinational corporations in the hands of their investors rather than government — provided the government isn’t his.
I’d be surprised if the Argentine government didn’t tell the Obama Administration to STFU. I would, if I were in their socialist shoes.