Oh, wow, Argentina is attacked by the Chilean government that can't even control their own people and the Spanish one that isn't even able to lower the unemployement below 20%. Funny that even the Brazilian governement supported Argentinean one (yes, they should also relatives of Argentina to understand that irrational hate is not a good argument)... because with few exceptions, most of the oil companies are state-owned. Argentina was reverting just an stupid decision made in the irrational wage of neoliberalism in the 90s.
Before talking about YPF, you should read something beside opposition newspapers in Argentina or Spanish ones. A good example is this piece on The Guardian (of course, written by someone with relatives from Argentina): http://www.guardian.co.uk/commentisfree/cifamerica/2012/apr/18/argentina-critics-oil-nationalise
I've heard tons of times how every change in Latin American economies will 'upset' the foreign investors, how they will run if we change taxes and we will end in poverty. And you know? Foreign investment has even incresed... even in Argentina. Why? Because even with all that problems, they still earn a lot of money. In fact, it's just plain stupid what Spain is doing upseting Argentina when they are the ones that can lose: Argentina can cut anytime their supply of soja, which represents almost 50% of the Spanish market, or start expropiating several companies like BBVA or Banco Santander; none of those ideas would be 'good' for a governement already in crisis.
Argentina is free to choose their own economic and political model, whether we like it or not, and certainly Cristina Fernández is more worried about how to sustain the industrial growth of Argentina than hosting Olympic Games (something Spain should learn perhaps). To be honest, I don't like the protectionism and I prefer the free market economy I have -and I hate going to Buenos Aires and see how cellphones cost the triple than the ones in Santiago because they were produced in Tierra del Fuego instead of being imported from South Korea-... but Argentina is not the first nor the last country with protectionism. Brazil? China? Russia? South Korea, anyone?
Is Argentina able to host the Young Games? I think they are, but only if their government is interested in them, exactly what didn't happen in the Copa América, which was an organizational nightmare. At this moment, I haven't seen gestures from the government yet so I'm not really sure if they will happen at the end. To be honest, I don't see sports as a priority for the Argentine gov.