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State confiscation of Bolivia's energy industry.(Brief article)

The New American

| May 29, 2006 | COPYRIGHT 2006 American Opinion Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

"Out for a stroll here last week, I stopped in my tracks," writes author William Powers in the May 8 Houston Chronicle. "Bolivian soldiers had surrounded my local gas station, where a banner read, 'Property of the Bolivian State.' They were among several thousand soldiers posted at more than 50 oil fields and refineries around this landlocked nation.... Latin America's newest populist leader, President Evo Morales, had just issued a decree nationalizing Bolivia's petroleum."

Powers, a left-leaning critic of globalization, insists that the seizure is nothing to be alarmed about, since it is a reaction to "a long history of swindles where natural resources like gold, silver, timber and petroleum have been 'privatized' into the global economy to the ...

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