Kirchner to nationalize 'predatory' YPF
(NEWSER) - The government of Argentina, claiming that a rise in oil imports is making the country "unviable," is taking control of the country's main oil producer. President Cristina Fernandez de Kirchner has announced plans to nationalize YPF, and is sending a bill to the country's senate allowing the government to expropriate 51% of its shares, reports the BBC . Spain's Repsol owns a majority of YPF, and Argentina's move is expected to escalate a dispute with the Spanish government, which has promised to take "clear and forceful measures." More»