It's happening in Buenos Aires. It's happening in Paris and in Athens. It's even happening at the World Bank headquarters. The global economy is finally shifting away from the model that prevailed for the last three decades.
The Argentine government has seized control of Spanish oil giant Repsol's stake in what was Argentina's national oil company. The takeover is being celebrated in Argentina and criticized elsewhere as a repudiation of the neoliberal reforms that opened up Argentina's crisis-plagued economy.
In Argentina the government of President Christina Kirchner Fernandez is moving to reclaim the YPF energy company. Looking behind the scenes, what is really driving Argentina's seemingly quixotic energy policies?
Given how entrenched oil politics have become in Argentine political culture -- and given how deftly both the current president and her husband played the nationalism card -- only a naïve investor would agree to invest in YPF believing that expropriation was impossible.
The news that the Spanish oil giant, Repsol, intends to begin exploratory drilling in the waters directly north of Cuba, has set off a chorus of criticism in Cuba's neighbor to the north: the United States.