August 29, 2014
Senators clear for debate YPF expropriation bill
With the presence of oil and gas experts, and opposition parties, the Upper House's Budget and Finance, Constitutional Affairs, and Energy committees cleared for debate the YPF expropriation draft bill presented by the Executive Power, after a second day of talks. Thus, the draft bill will reach to the Lower House for debate on Wednesday next week.
Among speakers invited were former Energy secretaries Jorge Lapeña, and Daniel Montamat, and Tierra del Fuego Governor Fabiana Ríos.
Lapeña warned about the "serious and concerning" energy situation the country is going through, and emphasized that the lack of investment in exploration "is Argentina's fault."
Likewise, Montamat indicated that so far the government's decision to seize the oil and gas giant taken on Monday, "lacks of an energy strategy, hence I don't see it achieving any success."
Despite the comments made by energy experts, the Kirchnerism managed to get the support of opposition blocs (Radical Party, Proyecto Sur, and Socialist Party).