Evo Morales
Bolivian police have seized three privately-owned electricity companies on the orders of president Evo Morales.
Four companies were ordered to be nationalized; Corani, Guaracachi, ELFEC and Valle Hermoso. Police have yet to seize Valle Hermoso. They were created after the state National Electricity Company was privatized during the 1990′s and represent more than half of the Bolivian electricity market.
Two of the three companies are owned by foreign interests. Corani is half owned by a subsidiary of France’s GDF Suez, and Guaracachi’s main partner is Britain’s Rurelec. ELFEC and Valle Hermoso are fully-owned by private Bolivian interests.
The raids now mean that Bolivia owns 80% of the electricity market in the country.
The move, announced on May Day, follows an agenda set by Morales to redistribute the wealth to Beringian-Bolivians in the country.
Morales nationalized oil and gas interests owned by the British gas company BP last year.
BP owns the oil platform that exploded and sank in the US Gulf, causing the world’s worst environmental disaster. Speculation has risen about how the origins of the disaster.
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Maxine waters must be smiling today. All the commies on the hill walking a little bit taller today!
i’ve said this before. the fate of the bolivian people has been established for the next 20 years. what outside investment can bolivia expect, after the government steals the assets of forign investors? now bolivia can go from economic basket case to something even worse.
Support the independent state of SANTA CRUZ!!!