'Fine tuning means no more taking advantage of our resources,' CFK

President Cristina Fernández de Kirchner resumed her activities following her medical leave of absence in a ceremony held at the Government House in which she blasted oil companies, which are accused of irregularities in the bulk price of gas oil, and urged them to reinvest money in the country. “Our subsoil is outsourced but we can’t go back to the Viceroyalty of the Rio de la Plata scheme,” she stated.

Last week, the Government launched an investigation involving YPF, which belongs to the Spanish company Repsol, Esso, the Brazilian company Petrobras and the Argentine Oil Fuel on alleged irregularities on the bulk price of diesel oil. According to date from the accusation, overpricing reaches 803 billion dollars per year and affect State-subsidized public and freight transportation.

“If oil companies had maintained or increased their production, we wouldn’t have had to import 9.396 billion dollars in fuel, a 110 percent more than in 2010,” president Cristina Fernández de Kirchner said during her first public appearance after her three week medical leave of absence.

According to the Head of State, fuel production has decreased considerably “and is affecting oil-producing provinces,” which charge royalties.

“I should remind you that our subsoil is currently being exploited by outsourced companies. We can’t go back to the times of the Viceroyalty of the Río de la Plata, when they took everything and left us with nothing. They must know that times have changed and that they have to reinvest in the country.”

After stressing the fact that fuel production affects all sectors of society and that competitivity of the economy, Fernández de Kirchner referred to the accusation against five oil companies of irregularities in the bulk price of gas oil.

"Fine tuning will mean the end of those oil companies trying to take advantage of the Argentine people," she warned.