Nationalization in Bolivia

President Evo Morales of Bolivia plans to nationalize the oil, gas, mining, foresty, and other natural resource industries. Foreign companies are unlikely to be compensated for their confiscated assets.

“Morales sent soldiers and engineers with Bolivia’s state-owned oil company to installations and fields tapped by foreign companies… The companies have six months to agree to new contracts or leave Bolivia, he said.” [Forbes]

“Morales had long pledged to nationalize the sector but said repeatedly he would not expropriate companies’ assets.” [CNN]