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Monday, May 01, 2006

Bolivia Nationalizes Gas

This is the beginning of the end for either Bolivia or Evo Morales' presidency. My guess is the former:

Bolivia's President Evo Morales decreed the nationalization of the country's natural gas industry today, following through on an election pledge to increase control over the energy industry.

Under the decision, he ordered foreign firms to send production to a state company for sales and industrialization, and said that the state will also recover Bolivian hydrocarbons companies that were privatized in the 1990's, with the state taking over shares that are in the hands of foreign companies and of semi-public Bolivian entities, according to an Associated Press report based on Mr. Morales's speech, which was delivered at the country's San Alberto gas and oil field.

He also ordered the military to occupy the natural gas fields, the A.P. said.

Expect that foreign investment in the country will dry up very quickly and a poor nation to become even poorer. What a shame!

2 Comments:

Anonymous Anonymous said...

Expect that foreign investment in the country will dry up very quickly and a poor nation to become even poorer.

Expect another waive of poor ignorant economic refugees to be trying to jump across our borders and claim rights that should be reserved for citizens and legal immigrants.

Almost all of the illegals that are here now are victims of socialism that they and people just like them voted into power. And now we see them marching on May 1, the international socialist/communist day for laborers. Will they never learn? The problem with ignorance and democracy is that it almost always results in bad government. We'll be a lot better off if we don't turn all these ignorant people into voters. We grow enough of our own ignorant people without importing more.

5/02/2006 9:07 AM  
Blogger Thomas said...

I agree with you and wrote the same thin on my blog. The people of Bolivia will suffer for Morales's lame decision.

5/02/2006 12:12 PM  

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