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Thursday, November 16, 2006
68 - Major Defeat Suffered By The Right On International Economic Justice Front: Bolivia Prevails In Nationalization Of Its Natural Gas Industry
There's good news for those of us who cheer when Third World nations make progress in their efforts to step out from under the boot heel of Western economic exploitation.
Six months ago, way back in podcast 42, we discussed how Evo Morales, the newly elected President of Bolivia, had nationalized Bolivia's oil and gas industry. He gave foreign companies 180 days to turn over a majority stake in their Bolivian operations, or leave the country.
For decades, most of the profits from Bolivia's natural resources had gone into the pockets of foreign multinationals, while the majority of Bolivia's people lived in dire poverty. Morales said no more.
Despite widespread condemnation and naysaying by right-wing forces, Bolivia has prevailed: the companies have now agreed to its demands.
Another nail in the coffin of the right-wing international economic agenda.
Jack Clark 3:29 PM
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