Bolivia President Evo Morales, burned in his attempt to rationalize gasoline and diesel prices, is now trying to find a new way to increase oil exploration in his territory. Plan A, of having a joint venture with PDVSA that would drill in previously unexplored areas such as the area around La Paz, hasn’t worked out. According to this Mercopress story, he’s gone to a Plan B that’s about as different as can be: fund private companies’ exploration costs, eliminating downside risk, while taking some of the upside if they succeed.
Am I the only one who sees the possibility that an oil company could turn this into a jobs program for junior geologists? No risk? Really? I hope Mercopress has it wrong.