24 April 2012

ARGENTINA : Cristina Hopes Patagonia's Vast Shale Potential Overshadows YPF Takeover Trouble.


     USA experts predict that Patagonia may hold the world's 3rd largest reserves of shale gas and oil...behind only China and the USA.
    Spain's Repsol recently estimated that it would cost it $25 billion to develop those potential reserves.
    Now Repsol is history...after last week's disputed nationalization by President Cristina Fernandez.
    New players will be needed to develop the 774 trillion cubic feet of nat gas trapped in Patagonia...starting with the Vaca Muerta region...since Buenos Aires has neither the cash or expertise to do it themselves?
    Always energy hungry China is a likely candidate...as is Brasil's Petrobras.
    The billion dollar question...will other foreign companies risk joining them?