AP: Bolivia's Morales backs off mining nationalization plans

[Eugene]

Bolivia's Morales backs off mining nationalization plans
The Associated Press

Published: October 31, 2006
LA PAZ, Bolivia President Evo Morales said Tuesday his government can't afford
to nationalize Bolivia's mining industry for now but restated his desire to
eventually recover control of the nation's mineral wealth.

The announcement by Bolivia's first indigenous president represented a retreat
from Morales' recent declarations that he would nationalize the industry, which
ranks second behind natural gas as the country's top source of export income.

The change in plans did not dim Morales' oft-expressed faith that mineral wealth
buried beneath Bolivian soil represents "the solution to the social and economic
problems" of South America's poorest country.

-snip-

Over the weekend, the government succeeded in obtaining 11th-hour deals with
foreign energy companies allowing them to continue operating in Bolivia under
Morales' May 1 oil and gas nationalization.

On Tuesday the president said he'd work to revamp the mining industry just as
soon as he hammers out final details of the energy contracts.

-snip-

Full article: http://www.iht.com/articles/ap/2006/10/31/america/LA_GEN_Bolivia_Mines.php

[Judi Lynn]

1. Hoping Evo Morales will have enough protection around him to keep

_Bush's administration from destabilizing his Presidency before he can make significant gains for the people he loves and has worked with for years.

They started threatening him, menacing him well before the Presidential election, and you can be sure they are not benign onlookers as he tries to make strides for the Bolivian economy, to bring desperately needed improvements to the daily life of so many, many very poor people.

You may remember the company with which his father was connected seized control of Bolivia's water supply long enough to raise the cost of water 200% and tried to force people to pay even for rainwater they tried to collect for personal use, before the people rebelled and ran them the hell outta there.

From the article:

Bolivia is not poor," Morales said. "Bolivia has many riches, but they are poorly distributed. Now is the time to recover those riches and better distribute them in Bolivian society."