Bolivia Nationalizes the Oil and Gas Sector |
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ExcerptsOil and Gas Resources in BoliviaBolivia, officially known as the Republica de Bolivia (Republic of Bolivia) in Spanish, is a landlocked South American country (Refer to Exhibit I (a) for map of Bolivia and Exhibit I (b) for a brief profile of Bolivia). The country is rich in natural resources like silver, gas, iron, magnesium, etc. As of 2005, Energy Information Administration (EIA), a US Government energy agency estimated that Bolivia has the second largest gas reserves in South America...
In the mid-1990s, Bolivia privatized its natural gas sector along with oil and that enabled investment by foreign companies (Refer to Exhibit V for the history of natural gas in Bolivia)... The Bolivian Gas WarThe phrase 'Bolivian gas war' was used to describe an internal conflict in Bolivia on the issue of exploitation of the oil and gas resources by foreign companies.
The NationalizationWhen Morales became President on January 22, 2006, he became the first indigenous native to govern Bolivia after 450 years. He belonged to the 'Aymara' indigenous group. He was actively involved in the Bolivian gas war and used the nationalization of the oil and gas sector as one of the principal planks to contest the December 2005 polls...
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