• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 16 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 10 days They pay YOU to TAKE Natural Gas
  • 6 days What fool thought this was a good idea...
  • 9 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 4 days A question...
  • 15 days The United States produced more crude oil than any nation, at any time.
Editorial Dept

Editorial Dept

More Info

Argentina: Hydropower Plans and EU Bio-Diesel Duties

Bottom Line: The European Union appears to be punishing Argentina over the expropriation of Repsol YPF with higher duties on Argentine bio-diesel that will cost the industry dearly.

Analysis: On 23 October 2013, the European Union (EU) announced higher anti-dumping measures on Argentine bio-diesel that could cost local industry up to US$ 1 billion. Set to come into effect by the end of the November, the duties will add between US$300 to US$340 per ton. Foreign Minister Hector Timmerman declared Argentina would appeal to the World Trade Organization (WTO) to reverse the decision. Beyond these new duties, Argentine bio-diesel will be subject to additional 6.5 percent import tariff if Mercosur fails to extend current trade agreements with the EU. Considering Mercosur’s general inability to act in an orchestrated and fast manner, it is virtually certain that Argentina’s soy exports to Europe will slow.

In part, the tariffs are the result of Argentina’s decision to expropriate Spanish hydrocarbon producer Repsol YPF in May 2012. At that time, Spain warned that it would lobby to block Argentine trade preferences. Repsol also filed suit for US$10.5 billion in compensation; in 2013, Argentina responded with an offer of US$1.5 billion, terms rejected by the Repsol board.

Recommendation: Though the current administration has worked hard to develop the biodiesel sector, production dropped from 710,000 tons in the first quarter of 2012 to 390,000 in the first quarter…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News