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Evo sticks to his word

The government's decision to nationalise Bolivia's hydrocarbon's industry means the country's national treasure is likely to remain buried, writes Robert Cauclanis

BOLIVIA'S chances of becoming a gas hub for the Southern Cone gas market receded significantly last month, after President Evo Morales stuck to his campaign pledge to nationalise the country's hydrocarbons industry. The 1 May nationalisation will force private investors to write-down the value of their assets in the Andean country. Some may leave the country altogether. And it might limit the growth prospects of the South American gas market, which has been expanding at 10% a year, outstripping growth in all other regions. Since its privatisation in 1997, Bolivia's gas industry has been largely run by Repsol YPF, Petrobras, Total, BG, Shell, BP and 15 other foreign companies. Together, thei

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