Argentina’s expropriation should be applauded
Argentina’s move to gain control of its energy resources via the expropriation of a portion of the national oil company YPF represents a strong democratic stand against oligarchy and should be loudly applauded.
President Cristina Fernández says the action will give her country the freedom to decide its energy policies and recover its lost energy security. She’s on the right track but her view of freedom and security shouldn’t be restricted to the energy “sector” alone. The very same oligarchic firms that control energy, after all, have a death grip on every other aspect of life and these are just as vital, if not even more so, to human security.
The global trans-national oligopolistic corporations that dominate our world are managed under just one primary directive – to suck as much cash out of its operations as possible and channel it to executives and stockholders. It’s a business plan written by parasites, as well revealed in today’s FT by a former executive of Repsol, the company being expropriated: “The business model (of Repsol) has been based on YPF being a cash cow and reinvesting that into other areas.” The article doesn’t specify what those areas may be, but we can be certain they involve yet more milking.
The whole world’s one big cash cow and we’re the ones being milked.