Peak oil explains the Repsol YPF expropriation in Argentina

I think this should be obvious to everyone by now, but peak oil is a clear factor in the Argentina/Spain oil crisis. Here's what happened.

Argentina has seen its fuel import surge as they have become a net importer of energy. As with just about every other major producer outside of Saudi Arabia, the oilfields in Argentina are already in decline. So, as oil prices soar, this widening energy shortfall means higher prices for ordinary consumers.  Argentina's hydrocarbon output has been in d...


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