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21.10.26 - 03:12
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Bolivia′s Energy Crisis Deepens As Natural Gas Reserves Run Dry (ZeroHedge)
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Bolivia's Energy Crisis Deepens As Natural Gas Reserves Run Dry
Authored by Felicity Bradstock via OilPrice,
Bolivia's dwindling natural gas reserves and declining exports have undermined its economy and intensified fuel shortages.
Rising global energy prices and subsidy cuts have increased living costs and fueled widespread protests.
A $1.9 billion IMF rescue package and energy-sector reforms aim to stabilize the economy, but long-term recovery requires diversification.
Years of underinvestment in Bolivia's gas industry have left the South American country facing a severe fuel shortage, as energy prices rise ever higher owing to the ongoing war in Iran. The energy shortages and economic crisis follow years of poor decision-making by the government.
In 2006, then-president Evo Morales took control of Bolivia's fossil fuel industry, renegotiating contracts with international oil and gas companies and benefiting from the revenue. Much of the country's newfound wealth was invested in publi...
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24.09.26 - 16:06
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′You can′t just bet everything on exports′: as its gas runs out, is Bolivia doomed to repeat history? (The Guardian)
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A fossil gas boom that lifted millions out of poverty has collapsed and inflation is rising – but not everyone believes selling gold and soya is the answerOnce hailed as the “energy heart of South America”, Bolivia's economy was buoyed up by a fossil gas boom from 2006 to 2014. At its height, then-president Evo Morales commissioned a gleaming presidential skyscraper and installed the world's longest urban cable car network in La Paz, the seat of government.Flush with cash, the country grew its GDP, expanded social programmes and halved poverty rates. But then commodity prices plummeted and gas reserves started to dry up, bringing Bolivia's “economic miracle” crashing down. Inflation – once the region's lowest – has soared. Continue reading......
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