Brazil’s Petrobras Needs to Respect Bolivia’s Property Rights

A Brazilian physicist, José Walter Bautista Vidal, who played an important role in the country’s sugarcane-based ethanol program (Proálcool) and presently works with biodiesel projects, says that what Brazil should do is defend Bolivia’s right to nationalize its oil and gas reserves and industries.

"At issue here is the principle of sovereignty. If we do not respect the principle of sovereignty others will use it against us and we have much to lose," he declared.

Bautista Vidal says it is wrong to see what Bolivia did as an "error," or that Bolivia is attacking Brazil, just because Petrobras was affected by the decision.

"That is not true. Bolivia is preserving fundamental, strategic property… and Bolivia is right. Petroleum is the property of the Bolivian people, just like the mineral reserves in Brazil belong to the Brazilian people," he explained.

Citing the example of the Vale do Rio Doce Company, one of the world’s largest mining firms, which was privatized during the Cardoso government, Bautista Vidal said:

"Today the Vale do Rio Doce Company operates in accordance with the rules that govern multinational groups and not in the interests of Brazil. The fact that foreign companies can obtain possession of resources is a crime against sovereignty," he said.

"Petrobras has to act differently, in accordance with Brazilian principles, respecting the property of other nations," said Bautista Vidal.

"But there are reports that Petrobras has not been following those principles and that is why the Bolivian people did what they did. Such activity by Petrobras is not compatible with Brazilian interests. Petrobras cannot act like other petroleum companies."

Agência Brasil

Tags:

  • Show Comments (2)

  • Guest

    False Nationalism: Outdated economic mod
    The current crisis shows clearly that neither state intervention nor free market magic have delivered prosperity for large numbers of South Americans.
    Aside from the empty political rhetoric, there are increasing signs that many people admit that what is needed is the courage and desire to look for practical ways of improving social and economic conditions :no longer can human labour be just regarded as just a commodity!
    The great challenge is how to balance egoism and altruism in economic life.

  • Guest

    National Socialism
    The idea that state-owned companies belong to the people is utterly false and serves only mask the elimination of economic competition by a small group of privileged bureacrats and politicians.

    State-owned compnanies do not belong to the people but rather to the national-socioalist oligarchic groups which control the state machinery in underdeveloped countries.

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil’s Domestic Tourism Campaign Pays Off: Flying Grows 16% in 2005

In November the number of Brazilians who traveled on domestic flights rose 21.1% in ...

Brazil’s Leader in Kids Clothes Conquers Europe

Considered one of the greatest and most important garment industries in Brazil, Marisol, based ...

Cover Story

As predictable and as traditional as New Year’s celebrations on Rio’s beaches, just-released Roberto ...

The Brazilian Formula for Success: Dictatorship

The Brazilian formula for success includes periods of dictatorship, and Brazil had three periods ...

Carnaval Biz: It Brings Close to US$ 500,000 to Rio, Brazil

The Rio de Janeiro Carnaval celebration, in Brazil, is certainly spectacular. It is also ...

Brazil Vows to Double Per Capita Income by 2022 to US$ 22,000

Dilma Rousseff, the president of Brazil, said that the government intends to double per ...

In Brazil, the Big Losers Were the Polls

Crowns of laurels to the victorious and crowns of flowers to the defeated. Add ...

Minister Promises Brazil Will Soon Become a Big Fish Exporter

Brazilian Minister of the Special Secretariat for Aquaculture and Fisheries, Altemir Gregolin, considered the ...

Brazil Gets 40,000 Leprosy Cases a Year

An agreement among Brazil’s Ministry of Health, the Pan-American Health Organization (PAHO), and the ...

Brazilian Bank to Give US$ 100,000 Award to Amazon Project with Zero Destruction

Brazil’s Banco da Amazônia is launching the Banco da Amazônia Award for Conscious Entrepreneurship ...