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:

Ads

You May Also Like

Sebrae's office in the state of Tocantins, Brazil

Brazil Gives South Africa, Chile and Mexico Entrepreneurship Lessons

The Empreender program, developed by the Brazilian Micro and Small Business Support Service (Sebrae) ...

Brazil May Have Suffered Its Worst Plane Accident Ever. There Were 155 Aboard

The Brazilian Air Force (FAB) has located this Saturday morning, September 30, the wreckage ...

Higher Court Overturns Fine for Political Interview in Brazil

Brazil's Superior Electoral Tribunal's ruled on July 2 that a São Paulo electoral court ...

Brazil to Appeal Shrimp Surcharges After US Election

American fishermen filed a suit with the United States Department of Commerce against six ...

Hilary Clinton: We Expect Thousands of Brazilian Students in the Next Few Years

US Secretary of State Hillary Clinton delivered the opening remarks at the “Brazil-U.S.: Partnership ...

Sorry, Says Lula, I’m No Leftist Anymore

Brazilian President Luiz Lula da Silva announced  that he no longer belongs to the ...

China’s President Ends Five-day Visit to Brazil

On the fifth and last day of his official visit to Brazil, the president ...

Agriculture Exports Grow 13% in Brazil and Reaches Record US$ 49 Billion

Brazilian agribusiness exports hit a new record high, amounting to US$ 49.422 billion in ...

Brazil: The Fine Art of Embezzling

The present Brazilian legislation is an invitation to crimes against the country’s Social Security ...