{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Congress set to OK takeover of YPF firm from Spanish shareholders' data-url='/boclips/videos/5c54c2eed8eafeecae15d713' data-video-url='/boclips/videos/5c54c2eed8eafeecae15d713' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nCongress set to OK takeover of YPF firm from Spanish shareholders\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Wide of Congress2. Banners outside the congress building with slogans and photographs remembering Evita Peron and Nestor Kirchner 3. Media outside congress 4. Lawmakers carrying piles of documents 5. Various of lawmakers in their...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Wide of Congress\u003cbr/\u003e2. Banners outside the congress building with slogans and photographs remembering Evita Peron and Nestor Kirchner \u003cbr/\u003e3. Media outside congress \u003cbr/\u003e4. Lawmakers carrying piles of documents \u003cbr/\u003e5. Various of lawmakers in their seats during congressional debates \u003cbr/\u003e6. Wide of the congress session \u003cbr/\u003e7. SOUNDBITE: (Spanish) Hipolito Faustinelli, opposition lawmaker, UCR (Union Civica Radical):\u003cbr/\u003e\"This is not a state-level policy, this is just a bill presented by the majority (of both houses), behind closed doors. And all right, you are able to impose it because you control both houses. But a true state-level policy involves all political parties, where all and each one of the parties represented here give their opinion on the issue. In this congress nobody has been able to even change a coma in the bill presented by the government. We don''''t even have the guarantee from the opposition that there is going to be transparency in this project (of nationalisation).\" \u003cbr/\u003e8. Cutaway of the session\u003cbr/\u003e9. SOUNDBITE: (Spanish) Nora Bedano, pro-ruling party lawmaker, Frente para la Victoria (Front for Victory): \u003cbr/\u003e\"I''''m not only very proud of being able to be part of this moment but I also believe that with my vote, my very simple vote, I will be putting my grain of sand to strengthen the federal system in Argentina, lead by our president.\"\u003cbr/\u003e10. Cutaways of lawmakers during the debate session\u003cbr/\u003eArgentina''''s congress is set to approve the country''''s takeover of the formerly state-owned energy company from Spanish shareholders.\u003cbr/\u003eArgentina is not only expropriating Repsol''''s 10.5 (b) billion US dollar controlling stake in the country''''s YPF oil company, but deputies are also debating whether to make Argentina''''s entire energy industry a target for other state interventions.\u003cbr/\u003eThe law declares that energy self-sufficiency is more important than profits for any oil and gas companies operating in Argentina.\u003cbr/\u003eThe so-far-uncompensated YPF takeover has Spain threatening to retaliate, and Moody''''s rating service says trading with Argentina is riskier than before. \u003cbr/\u003eBut the Argentines have brushed off the criticism, and more than three quarters of lawmakers are expected to approve the law on Thursday night.\u003cbr/\u003eBoth houses are under the control of president Cristina Fernandez''''s party and even opposition parties are in favour of nationalising the country''''s largest oil company, which was privatised 2 decades ago.\u003cbr/\u003eOnly the conservative PRO (Propuesta Republicana) said they will vote against the bill claiming that the president is only trying to cover up a major energy crisis with the YPF takeover.\u003cbr/\u003eSome lawmakers within the main opposition party, the Union Civica Radical, also voiced their disagreement with the contents of the bill and the way it was pushed trough the senate and parliament.\u003cbr/\u003e\"In this congress nobody has been able to even change a coma in the bill presented by the government. We don''''t even have the guarantee from the opposition that there is going to be transparency in this project (of nationalisation), \" said a lawmaker from Cordoba province.\u003cbr/\u003eBut most Argentines see the move as the recovery of YPF, a national symbol that has always been rightfully theirs.\u003cbr/\u003eThe takeover comes after months of pressure on YPF to increase its Argentine oil and gas production. \u003cbr/\u003eFernandez and her ministers have complained that Repsol failed to invest enough in Argentina''''s energy future, taking profits out of the country in the form of dividends, and exporting too much of Argentina''''s oil to profit from world prices, rather than supplying price-controlled markets within Argentina.\u003cbr/\u003eRepsol denies this, saying it has invested billions over the years, and planned to ramp up production even more.\u003cbr/\u003eAs is the case with the Falklands Islands (known by Argentina as the the Malvinas) no political party wishes to alienate their voters by going against Fernandez. \u003cbr/\u003eHer political allies in the lower chamber praised her initiative claiming it will strengthen the country.\u003cbr/\u003eWith the national economy growing, Argentina is in desperate need of oil and gas to support its industry and services.\u003cbr/\u003eThis year (2012) the country expects to import more than 10 (b) billion US dollars worth of gas and natural liquid gas to address an energy crisis even though it is an oil-producing nation.\u003cbr/\u003eYPF is Argentina''''s largest company and vital for its energy future, especially after a recent find of huge unconventional oil and natural gas reserves - a discovery that Repsol stressed came from the company''''s exploration efforts.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci 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