Proverbial

Are there political bloggers in Bolivia? Hopefully Gateway Pundit will pick up on this story and find someone with a little more understanding of the situation to comment on it. Anyways, the thing is that after kicking foreign companies from the country and nationalizing the gas industry, thus “reclaiming the country’s main treasure to its people”, president Evo Morales is facing the prospect of having to import the fuel (.br) from Argentina and Peru:

According to [Bolivian Hydrocarbonates minister Carlos] Villegas, who made the statements on a TV show this wednesday, the demand and offer relation for LPG in Bolivia is at its limit and should increase during the winter months, due to an increase in gas demands for use in heating.

A local newspaper says the country might be facing a shortage of natural gas and electricity, as well. The problem, it seems, is that the industry lacks the kind of investment it desperately needs to keep up with growing demands. According to the Folha de S. Paulo piece, the Bolivian Chamber of Hydrocarbonates says the problem has been going on for at least two years - about the same time Mr. Morales was elected -, and has gotten a lot worse lately.

I know little to nothing about Bolivian affairs, but I guess it wouldn’t be that wrong to suggest that the election of someone with such a nationalist agenda as Mr. Morales would scare investors off. And it can’t be just coincidence that after unilaterally kicking foreign companies out of the country and seizing their properties, he is having such a hard time finding people to invest in the Bolivian gas industry.