Thursday, January 19, 2006

The Price of Doing Business with Morales

Al-Jazeera has reported that "The president of Brazil's Petroleo Brasileiro SA, or Petrobras, has said that the state-run oil company is willing to reduce its profits in order to guarantee its operations and investments in

A further excerpt:

Gabrielli said Morales seemed inclined to take a business-friendly approach to negotiations with Petrobras, which is one of Bolivia's largest foreign investors.

"We need them, and they need us," Gabrielli said, noting that 50% of the natural gas used in Brazil comes from Bolivia.

Morales previously had threatened to privatise foreign oil companies operating in Bolivia.

It should go without saying that the same social movements that carried Morales to his election victory may be less than thrilled by this change in rhetoric.


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