Uncertain trends mar Argentine energy plan

Argentina is aiming to attract more international investment into its energy industry despite discouraging signs of further constraints being put on oil companies already active in the country, according to UPI. The latest potential disincentives have come in the form of ominous "investigations" into the accounting standards and related corporate practices at YPF S.A. and Repsol YPF S.A., two major oil companies with international connections. Argentina is aggressively expanding its energy base amid anticipation of a surge in its 40 million population, increased consumer spending and industrialization fueled by revenue from commodity exports. Reducing dependence on cash crops and raw material exports is a long-term aim of President Cristina Fernandez de Kirchner, who is widely tipped as the favorite to win a second term in the Oct. 23 presidential election. Critics say the president's style of government is seen by business leaders as blowing hot and cold, an inconsistency in government actions and pronouncements that creates uncertainties about official attitudes to incentives for investors.