White House Stunned By Argentine Oil Expropriation

IBD Editorials ^ | April 17, 2012

[Kaslin]

Diplomacy: After a weekend of cavorting in Colombia, the White House was caught flat-footed by Argentina's takeover of a big oil company whose loss will hike gas prices, harm Spain and slam U.S. investors. Lucky us.

Never was a response to a global outrage more mealy-mouthed than the one from the U.S. after Argentina's President Cristina Fernandez de Kirchner, standing under a portrait of Evita Peron, announced a brazen grab for YPF, the Argentine oil company that's 57% owned by Spain's Repsol.

Markets fell, world leaders denounced the violation of contracts and economically battered Spain rallied European Union support.

But the U.S.? "We are following developments on this issue. We are not currently aware of any WTO complaints related to this issue," the State Department said.

Then, leading from behind after Spain vowed a "forceful" response, Secretary of State Hillary Clinton tried to toughen up: "Having an open market is a preferable model. Models that include competition and market access have been the most successful around the world."

[Mmogamer]

Why would they protest? 0 longs to do that here.

[griswold3]

The administration couldn’t contain themselves. They were seen slobering in envy for what Argentina had done!

Maxine Waters, please, pick up the courtsey phone!

[HIDEK6]

Unless it involves Black Reparations or the destruction of the United States of America, Obabma is always clueless.

[mylife]

Stunned?
I would think they’d be taking notes!

[Gay State Conservative]

A disciple of Mao surprised by the act of a disciple of Stalin? Ya just can't make this stuff up!

[Mr. K]

Sunned that he didn’t think of it first

[Gay State Conservative]

Unless it involves Black Reparations or the destruction of the United States of America, Obabma is always clueless.

Not clueless,uninterested.

[hinckley buzzard]

That we were apparently blindsided by this takeover, is evidence that the State Department is in vital need of reform. It predates Hillary, goes way back to Wilson's day.

If Romney wants to impress me when he gets in he can start by going through State demanding mass resignations, initiating investigations of supervisors and other careerists for malfeasnace and plain corruption.

[KC Burke]

Spain gets hit while on the ropes from its long affair with democratic socialism. Obama doesn’t see it coming and has no leadership to offer when national socialists steal international corporate property.

Seems like a typical week for Hillary

[SunTzuWu]

Secretary of State Hillary Clinton tried to toughen up: "Having an open market is a preferable model. Models that include competition and market access have been the most successful around the world."

Isn't that the exact opposite from what Zero said just a few days ago? I seem to remember him saying that the free market has never worked.

[Pat4ever]

O’s White House surprised by this? Really? I’m wondering if this is what Hil was lifting a bottle of beer and dancing about. Oh, and the Secret Service kerfuffle certainly was a distraction this weekend.

[RushingWater]

Wouldn’t surprise me if Obama was also secretly aligning with China/Argentina to let China have control of Falkland Island oil.

[ptsal]

Well so what?

How is this any different than GM or Chrysler?

[vpintheak]

You’re darned right! This is what bammy wants to do to companies here in America. Just listed to his rhetoric and tell me he is free market.

[Jonty30]

John Siemens just gets better all the time.

John didn’t write this?

Oh.

[Fitzy_888]

People don't stop for stop signs in Argentina for fear on car jacking and shanty towns are everywhere. It's a progressive’s Xanadu, imagine speeding through and looking at the poor with self-congratulatory empathy and retiring to your tiny flat behind barred windows. It's where Barry feeling belonging.

[grumpygresh]

Nah. Outwardly stunned, secretly jealous.

[Dr.Zoidberg]

Stunned my hairy posterior!

Zero and Co. are trying to figure out how to take credit.

[RicocheT]

Stunned? Don’t the fools in the White House & State Dept. read the Wall Street Journal? The WSJ had several articles saying this was coming dating back 10+ days. Not just the Secret Service is off on a party.