Outrage: 24 Years Later, Carandiru Prison Massacre of 111 is Called Self Defense
On October 2, 1992, the blood of 111 dead prisoners literally flooded the corridors of th...

Read more

Indians, Satellites, Helicopters, Machine Guns: All Is Fair in the War to Defend the Amazon
When George Porto joined Brazil's environment agency 13 years ago, the country didn't hav...

Read more

Brazil's Plan: Deforestation Zero by 2030
Home to the vast Amazon, Brazil has reduced its deforestation rate by more than 70 percen...

Read more

Brazil: Get Lula! Now! Or Else…
The interminable, ghastly telenovela aiming at turning Brazil, the seventh-largest econom...

Read more

The Noose Is Tightening for Brazil's Workers Party
A medical doctor by training, Antonio Palocci was Brazilian former president Luiz In&aacu...

Read more

Brazil Renews for Three More Years Contract with Cuban Doctors
Antônio Nardi, executive secretary at Brazil's Health Ministry, signed a deal which...

Read more

Another Lula Man Goes to Jail for Corruption: Former Finance Minister Palocci
Brazil's Federal Police arrested early this Monday, September 26, in São Paulo, fo...

Read more

How the Washington Regime Change Machine Was Able to Oust Brazil's President Rousseff
Washington's regime change machinery has for the time being succeeded in removing an impo...

Read more

Brazil President Being Investigated for Involvement in the Petrobras Corruption Case
Brazil's Federal Supreme Court gave a green light to preliminary investigation into Presi...

Read more

Refusal to Play the Neoliberal Game Toppled Rousseff, New Brazil President Reveals
Addressing business leaders and foreign policy experts in New York, last week, Brazilian ...

Read more

In Brazil Coups Are the Rule. Elected Government Is the Exception
With a rom-pom-pom, the Brazilian Marine Corps brass band introduced the national anthem ...

Read more

Brazil's Petrobras Corruption Scandal Gets Lula's Finance Minister Arrested
Brazilian police arrested Guido Mantega, a former finance minister under presidents Luiz ...

Read more

Popularity Down to 5%? So Be It if It Saves Brazil, Says President Michel Temer
During a press conference with US executives in New York, President Michel Temer reiterat...

Read more

The Clique of Corrupts Installed in Brasília Won't Stop Till They Pardon Themselves
In a move that shocked even the most longtime, jaded observers of corrupt Brasília...

Read more

900 Indians Have Been Killed in Brazil Since 2003
According to a report issued by Brazil's Missionary Indigenous Council in Brasília...

Read more

Outrage: 24 Years Later, Carandiru Prison Massacre of...
Indians, Satellites, Helicopters, Machine Guns: All Is Fair...
Brazil's Plan: Deforestation Zero by 2030
Brazil: Get Lula! Now! Or Else…
The Noose Is Tightening for Brazil's Workers Party...
Brazil Renews for Three More Years Contract with...
Another Lula Man Goes to Jail for Corruption:...
How the Washington Regime Change Machine Was Able...
Brazil President Being Investigated for Involvement in the...
Refusal to Play the Neoliberal Game Toppled Rousseff,...
In Brazil Coups Are the Rule. Elected Government...
Brazil's Petrobras Corruption Scandal Gets Lula's Finance Minister...
Popularity Down to 5%? So Be It if...
The Clique of Corrupts Installed in Brasília Won't...
900 Indians Have Been Killed in Brazil Since...

Brazil Tells Bolivia All's Forgiven with US$ 1 Billion Investment

Presidents Morales and Brazil's Lula in Bolivia Brazilian state controlled oil multinational Petrobras announced during visit of Brazilian President Luiz Inácio Lula da Silva to La Paz that it plans to invest up to US$ 1 billion in Bolivia to increase natural gas production and look for new reserves of the fuel.

The announcement signals a powerful political support from Bolivia's largest neighbor to embattled President Evo Morales who faces an "autonomy rebellion" from the country's four richest provinces.

The plan also marks a turning point in strained relations between the government of Bolivian President Evo Morales and Petrobras, which criticized Morales' energy nationalization last year and froze planned investments.

The two countries signed a series of energy cooperation deals during a two-day visit by Lula that are aimed to secure Brazil's supplies of natural gas and patch up ties with its poorer neighbor.

"I want to tell Petrobras's president that although there was a certain lack of trust after the changes to our energy policies, we've never sought to harm any company," Morales said in a speech at the presidential palace in La Paz.

"Every investor should recover their investment, not just recover it, but also have a right to the profits. We'll always guarantee that," said Morales, a close ally of Venezuela's fiery president Hugo Chavez.

A text of the Petrobras investment accord said the firm was planning to spend between 750 million and one billion US dollars to increase gas output.

The other energy agreements include a plan by Brazilian petrochemical firm Braskem to study a joint venture with Bolivia's state energy company YPFB to build a methane plant. Petrobras employees will also give technical and commercial training to their counterparts in YPFB.

Brazil is Bolivia's main natural gas customer and a gas shortage in Rio de Janeiro in October reminded the country how much it relies on its smaller neighbor for supplies of the fuel. Economic expansion in Brazil, Chile and Argentina has increased demand for energy across the region and Bolivia has South America's second-biggest gas reserves after Venezuela.

However, Lula's visit was not confined to energy issues. He also signed accords to give loans for farm machinery and increase cooperation between the countries' universities.

Diplomats in Brasí­lia have said Lula wants to win back Brazil's influence in Bolivia from Venezuela's Chavez, and he sought on Monday to draw a line under the spat over the energy nationalization.

"In the end, Evo Morales and Lula didn't fight like some people wanted us to fight. We didn't become adversaries ... we became comrades," Lula da Silva underlined.

The trip was well-timed for Morales, who is facing fierce resistance to his left leaning reform plans from conservative opponents. They frequently attack his close relationship with Chavez, but the more moderate Lula is a less controversial ally.

"We've come with a message of solidarity to reaffirm Brazil's willingness to contribute so that Bolivia can find its path to stability and social and economic development", said President Lula da Silva.

And at this moment "of political turbulences if I could only give you an advise Evo, without interfering in Bolivian domestic policies, I would recommend patience and more patience. The Bolivian people will find the way that leads to the consolidation of democracy", added the Brazilian president.

Morales said that this "meeting unblocks Brazilian investments in Bolivia" and reiterated that Bolivia acknowledges the regional leadership of Brazil and Lula da Silva "as my eldest and wisest brother: before as union leaders, now as presidents, looking to ensure social justice".

Both presidents exchanged their country's highest honors: Morales awarded the "Condor of the Andes" medal to Lula da Silva and the Brazilian president the "Southern Cross" to his Bolivian colleague.

An agreement was also signed for the building of two bridges along the common border of 3.000 kilometers.

Mercopress

Comments   

0 #4 öAUGH....LAUGH......LAUGH !!!!!!!!ch.c. 2007-12-21 16:42
Typically Brazilian style !

Ohhhh Joao....since when an investment is a loss...before it was even invested ?????
Have you not written :"we are very forgiving even when we lose a Billion dollars! "

And do you really expect the investment will end up at a loss ? Not in my view !
Quote
0 #3 Eduardo CJoão da Silva 2007-12-19 10:23
Quote:
Should have invested more!!
Knowing you, you are obviously sarcastic :D
Quote
0 #2 João da SilvaEduardo C. 2007-12-19 10:00
Should have invested more!!
Quote
0 #1 Brazil Tells Bolivia All's Forgiven with US$ 1 Billion InvestmentJoão da Silva 2007-12-18 10:57
Thanks for clarifying why our Minister of Justice FAINTED that Ceremony.

Quote:
Both presidents exchanged their country's highest honors: Morales awarded the "Condor of the Andes" medal to Lula da Silva
The least Morales could do was to give a Medal to Lula that costs a micro fraction of the 1 Billion dollar Investment.

On the whole, it was a good meeting and it proved that we are very forgiving even when we lose a Billion dollars!
Quote

Add comment

Security code
Refresh

Who's Online

We have 3246 guests and no members online

Statistics

Users
3
Articles
17336
Articles View Hits
128994092

----------

Football Shirts

----------

Brokers list for binary options

----------

Make money with binary options

----------

Only useful paper writing tips Doing homework assignments isn't hard, all you need is our advices and help