Uruguay's bold new oil policy Counter-reform in Latin America

[impeach the gop]

In a referendum that echoes the mood across Latin America, Uruguayans have
voted to re-impose a state monopoly

THE question facing Uruguayans in a referendum on December 7th seemed dry: should
they strike down a new law ending the monopoly of the state-owned oil company and
opening it up to outside investors? The implications were not. “The future of our country
is at stake,” said Carlos Fernández, a municipal worker in the capital, Montevideo, after
casting his vote. Along with 60% of the electorate, he voted to repeal the law, aborting
a timid liberalisation of the energy industry.

Uruguay is a small and tradition-bound country, whose economy has suffered a slump
induced by Argentina's woes. But its vote was a clear sign of the times across Latin
America. Retreat from free-market reform is starting to turn into its reversal, though so
far only in small, isolated steps. The Dominican Republic has renationalised two
electricity firms (see article). There is pressure in Bolivia for the state to take back oil
and gas.
http://www.economist.co.uk/world/la/displayStory.cfm?story_id=2282858

[Armstead]

1. Uruguay was a very progressive country

They got thrown off course during a period of military repression in the 70's. But before thatm, Uruguay has a tradition of being one of the most progressive nations in Latin America. In the early 20th Century it was very reformist, and was sometimes called the Switzerland of Latin America.

This is good news if this vote indicates they are turning their back on neo-liberal imperialism. Let's hope other countries follow suit.