Evo Morales new president of Bolivia

[Berzerker]

Morales could possibly successfully lobby the UN in order to legalise coca production. At least, if the UN is satisfied with the guarantees Morales offers against cocaine trafficking.

Wont happen, the US and probably others will block any attempt.

[Az]

BTW Venezuela's output is in steep decline mainly because 1) Chavez has replaced trained technicrats with cronies and 2) His policies have resulted in a steep decline in foreign investiment. The nationalist chest thumping makes for good press but bad economics.

Isn't most oil output produced by the national oil company? if so, what does "foreign investment" have to do with it?

[VetLegion]

Usually domestic companies do exploration and extraction in combination with international corporations. From what I've read, the practice is that they form a 50-50 partnerships on a project, with domestic company bringing... rights to operate and foreigners bringing knowledge and capittal.

I may be wrong, but I believe that even in Norway the domestiic oil company is not doing everything themselves.

[Sikander]

Originally posted by Odin

The coups had everything to do with helping US corporations with intrests down there. The "evil commie" BS was used as an excuse.

Actually the U.S. government's track record on opposing communism on principle in this hemishpere is much better than your record for having a clue what you are talking about.

[Dinner]

Originally posted by Az

BTW Venezuela's output is in steep decline mainly because 1) Chavez has replaced trained technicrats with cronies and 2) His policies have resulted in a steep decline in foreign investiment. The nationalist chest thumping makes for good press but bad economics.

Isn't most oil output produced by the national oil company? if so, what does "foreign investment" have to do with it?

Since the state oil company doesn't have the know how to explore and model wells as efficently as 1st world countries they typically attempt to set up joint ventures where the locals provide the wells and the foreigners supply the technology. Also the national oil company is the result of nationalizing foreign owned wells in the country so once again it was made possible by foreign investment.

Chevaz has gone to great lengths to purge everyone who has endlessly professed personal loyalty to him so most of the trained specialists have been purged and replaced by yes men. These yes men are great at doing what ever Chavez wants but aren't that good at finding oil and extracting it as efficiently as possible. The result is oil, the backbone of the economy, is in sharp decline. He's still making more money since oil prices are up but right now those high prices are hiding Chavez's main economic mistakes. He should pray prices stay high and don't crash like they did in the early 1980's.

Likely, in another 5-10 years prices will crash as a flood of new production comes online chasing the high prices.

[Az]

So, lemme get this straight - there are no government oil corps in the world that have drilling and exploration technology?

...ok....

[VetLegion]

The investment of capital needed for oil extraction is huge. Most countries can't afford it on their own.

[Dr Strangelove]

LAst I heard most of Bolivia's cocoa produce was definately not cocaine free. I'm willing to bet that the sale of cocaine free cocoa would not bring in anywhere near the cash that the straight stuff does. Would it even be worth the investment?

[Bosh]

Originally posted by Dr Strangelove
LAst I heard most of Bolivia's cocoa produce was definately not cocaine free. I'm willing to bet that the sale of cocaine free cocoa would not bring in anywhere near the cash that the straight stuff does. Would it even be worth the investment?

Chewed coca or coca tea gives you a very very minor buzz, suppresses appetite and is good for altitude sickness. If you took out the active ingredient of coca leaves it would sell about as well as decafinated coffee at best...

[Berzerker]

Someone with asthma said their condition cleared up for a while after drinking cocoa tea in Peru. I suppose since there are markets for both cocaine and cocaine free cocoa they produce both.

[snoopy369]

Am I incorrect in believing that the word 'cocoa' is a different word and different plant from 'coca'?

[snoopy369]

Coca - Erythroxylum coca, from which Cocaine et al are derived.
Cocoa, derived from the bean of the Cacao tree (next)
Cacao- Theobroma Cacao (any Kage Baker readers out there )

[Az]

Originally posted by VetLegion
The investment of capital needed for oil extraction is huge. Most countries can't afford it on their own.

, yeah, I am sure Gazprom, and many other govt. oil extraction corps. around the world can't afford it.

[VetLegion]

Yep.

[Az]

okay