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Spain Goes To War For

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By Douglas A. McIntyre Updated Published
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The war between Spanish oil company Repsol and the government of Argentine President Cristina Fernandez over controlling interest in YPF–the largest oil company in Argentina–has become a international political incident. Repsol rightly sees its interests as having been stolen. Its home nation now threatens the equivalent of economic war with the South American country.

Repsol wants $10.5 billion for the stake which has been taken. Management has gone so far as to say the takeover “will not remain unpunished”. Spain’s Industry Minister Jose Manuel Soria has indicated his country will take trade action and probably sanctions against Argentina. But, Argentina has more to fear than Spain. If other sovereign nations believe that the assets of their  companies may be seized, Argentina could become a pariah as Venezuela did when it took over oil interests of several firms which included those domiciled in the US and UK. Trade with Venezuela has been affected ever since.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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