Same people that ruined oil industry is now picked to recover it, says Deputy Estenssoro

Deputy María Eugenia Estenssoro anticipated that the Civic Coalition party she represents will vote against the draft bill presented by the national government to expropriate the 51 percent of the YPF shares held [57.43 percent] by Spain-based energy group Repsol.

“We won’t approve the draft bill the way it is right now”, the Deputy said in a radio interview with Cadena 3 and explained, “This is the third violation the company is victim of within the past 12 years.”

“The biggest contradiction here is that Planning Minister Julio De Vido, who’s in charge of the energy area, plus Energy Secretary Daniel Cameron and the other government officials that have been part of the past 9 years of Kirchnerism in which Argentina’s oil industry cracked down and the country became an energy importer, are the work-team designated to lead the recovery of Argentina’s biggest company. It’s unbelievable!”

“This is more of the same, plus we have to see how the President appoints De Vido as controller of the company.”

The Deputy’s great-grandfather was one of the company’s founders; while her father –José Estenssoro- was appointed president of YPF in 1991 until 1995 when he tragically died in an airplane crash. During his stay, the deputy’s father transformed YPF into a public company, increasing its independence from the government and facilitating its privatization in 1992 under the government of Carlos Saúl Menem, who for such purpose received the political support of President Cristina Fernández de Kirchner and her late husband Néstor Carlos Kirchner, by the time then Governor of oil producing province of Santa Cruz.