Corporate Machine vs. Bolivia

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http://www.schnews.org.uk/archive/news528.htm

Troubled Waters

Six years ago the Bolivian city of Cochabamba erupted in riots against Bechtel, the California-based multinational that had bought up their water and was selling it back at extortionate rates, often more than half of people’s monthly incomes. The water privatization was forced on Bolivia by the World Bank as a loan condition back in 1997. After riots left more than a hundred wounded and a 17-year-old boy dead, Bechtel legged it but together with their Spanish partners, Abengoa, sued the country for £23m in ‘lost profits’. This week representatives of the Bechtel Corporation and its co-investor, Abengoa of Spain were in Santa Cruz to sign an agreement which will lead to them dropping the case for a token payment of 2 bolivianos (50p). As people win the fight against corporate power, attention has now turned to the victory of the indigenous Evo Morales who won last December’s Presidential elections. Morales has been promising to nationalise energy supplies. Whether he keeps his promise is another question, but investors in Washington are naturally concerned and that more or less guarantees future battles to come.

I saw this topic covered in a documentary called The Corporation. I'm glad the people of Cochabamba had the balls to riot against a ruthless corporation. If the privatization of water happens here in the U.S. then I will be part of the protest. I hear corporations are trying to privatize water around the world to cash in on the next critical resource after fossil fuels. This also makes me think about ways to maintain my own water supply.