Enarsa Enarsa ENARSA, in full Energía Argentina Sociedad Anónima, is a state owned company in Argentina. It is engaged in for the exploitation of petroleum and natural gas, and the production, industrialization, transport and trade of these and of electricity. Enarsa was founded on December 29, 2004, by an initiative of President Néstor Kirchner. The initiative had the political goal of reinserting the state in an oligopolic market that was completely privatized during the Menem administration in the 1990s; these privatizations included the state oil firm YPF to the Spanish corporation Repsol, as well as its sister company, "Gas del Estado",
Cristina Fernández de Kirchner dollars. The nationalization was justified by the president as government protectionism during the crisis, and compared with the bank bailouts in Europe and the United States. It was criticized as a threat to property rights and the rule of law. Fernández resigned after the Kirchnerite defeat in the 2009 elections, and was replaced by Amado Boudou, president of the ANSES which had worked for that nationalization. Although inflation was nearing 25% and on the rise, Boudou did not consider it a significant problem. In January 2010, Cristina Kirchner created the bicentennial fund employing a necessity and urgency decree in order