Years before the arrival of the Spanish, Bolivia’s indigenous people used ñmagic waterî to cure wounds and keep fires going. With the invention of the automobile in the 1880s this black liquid took on a new importance. Since then, the oil and gas has been more of a curse than a blessing for the Bolivian people. On May 1st of this year, the history of these resources entered a new phase.

Bolivian President Evo Morales announced that the oil and gas will be nationalized and put into the hands of the state-run oil and gas company, Yacimientos Petroliferos Fiscales Bolivianos, (YPFB). Though what this nationalization plan truly entails may not be known for weeks, the move begs the question will state control of resources be more beneficial to the Bolivian people than corporate control?
upsidedownworld.org

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