Bechtel Vs Bolivia: The People Win

One again, it is clear that the economic rules of the game can be changed. Six years ago the people of Cochabamba won their revolt over water with courage and commitment. Today we have all won the water revolt’s second and final round, with a persistence that was truly global and that could not be stopped.

The Cochabamba water revolt – which began exactly six years ago this month – will end this morning when Bechtel, one of the world’s most powerful corporations, formally abandons its legal effort to take $50 million from the Bolivian people. Bechtel made that demand before a secretive trade court operated by the World Bank, the same institution that coerced Bolivia to privatize the water to begin with. Faced with protests, barrages of e-mails, visits to their homes, and years of damaging press, Bechtel executives finally decided to surrender, walking away with a token payment equal to thirty cents.

That retreat sets a huge global precedent.

The Cochabamba Water Revolt

In January 2000 the people of Cochabamba, Bolivia woke up one morning to discover that their public water system had been taken over by a mysterious new private company, Aguas del Tunari. The World Bank had coerced Bolivia to privatize its water, as a condition of further aid. The new company, controlled by Bechtel, the California engineering giant, announced its arrival with a huge overnight increase in local water bills. Water rates leapt by an average of more than fifty percent, and in some cases much higher. Bechtel and its Spanish co-investor, Abengoa, priced…

Posted by ShiftShapers
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