Bolivia's Morales mimmicks Hugo Chavez
Bolivia Moves to Nationalize Gas Industry
LA PAZ, Bolivia (AP) - President Evo Morales decreed he was nationalizing Bolivia's vast natural gas industry Monday, sending soldiers to occupy gas fields and threatening to evict foreign companies unless they give the Andean nation control over the entire chain of production.
The move fulfills an election promise by the leftist president, who has forged close ties with Cuba's Fidel Castro and Venezuela' Hugo Chavez, to increase state control over Bolivia's natural resources, which he says have been "looted" by foreign companies.
Morales sent soldiers and engineers with Bolivia's state-owned oil company to installations and fields tapped by foreign companies - including Britain's BG Group PLC and BP PLC, Brazil's Petroleo Brasileiro SA, Spanish-Argentine Repsol YPF SA, France's Total SA and Texas-based Exxon Mobil Corp. The companies have six months to agree to new contracts or leave Bolivia, he said. Read on.
LA PAZ, Bolivia (AP) - President Evo Morales decreed he was nationalizing Bolivia's vast natural gas industry Monday, sending soldiers to occupy gas fields and threatening to evict foreign companies unless they give the Andean nation control over the entire chain of production.
The move fulfills an election promise by the leftist president, who has forged close ties with Cuba's Fidel Castro and Venezuela' Hugo Chavez, to increase state control over Bolivia's natural resources, which he says have been "looted" by foreign companies.
Morales sent soldiers and engineers with Bolivia's state-owned oil company to installations and fields tapped by foreign companies - including Britain's BG Group PLC and BP PLC, Brazil's Petroleo Brasileiro SA, Spanish-Argentine Repsol YPF SA, France's Total SA and Texas-based Exxon Mobil Corp. The companies have six months to agree to new contracts or leave Bolivia, he said. Read on.
posted by HeavyHanded at
8:54 PM
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