Bolivia Nationalizes the Oil and Gas Sector |
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"The time has come, the awaited day, a historic day in which Bolivia retakes absolute control of our natural resources. The looting by the foreign companies has ended."1 - Evo Morales, President, Bolivia, Announcing the Nationalization of Oil and Gas Sector, on May 01, 2006. "Governments in the region see energy as a commodity they can use to push populist agendas...From a political point of view, it's a powerful issue to manipulate, but from an industrial point of view, it can do real harm."2 - Adriano Pires, Director, Brazilian Center for Infrastructure Studies, in May 2006. "These conditions make gas operations practically impossible in Bolivia."3 - Jose Sergio Gabrielli, President, Petroleo Brasileiro SA,4 on Nationalization, in May 2006. The Nationalization Spree
Morales gave six months' time to the foreign companies in the oil and gas sector to renegotiate their existing contracts with the government or leave the country.
Bolivia Nationalizes the Oil and Gas Sector - Next Page>>
1] Paulo Prada, "Bolivian Nationalizes Oil and Gas
Sector,"www.nytimes.com, May 02, 2006. |
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