On Tuesday, Peruvian energy agency Perupetro announced a
bailout of the country’s oil industry. According to Petroperu, the country
plans to lower oil taxes from an already-low rate of 20% to as little as 5%, in
an effort to help these oil companies survive the crisis caused by the collapse
in global oil prices. Perupetro explained that the new royalties would be
tailored to each individual oil field, with the additional objective of encouraging
new investment in the oil fields. The country is worried that if oil companies’
operations are no longer profitable, they will simply decide to leave the
country.
In mining-related news, the ex-president of the National
Mining, Oil, and Energy Society, Carlos del Solar, blasted
the law of Prior Consultation for needlessly restricting mining investment in
the country. This law was implemented in order to protect the rights of local
communities in areas where there are large mining projects. Del Solar, however,
said that, “The law of Prior Consultation is stupid, we do not need it. There
are just more obstacles for mining investment.”
Guillermo Valdón, an executive with Southern Perú mining
company, agreed with Del Solar, jokingly adding, “Has anyone done a consultation about whether
they want to stay poor? How to find an exit out of poverty if we are not
productive.” Not every mining official agreed, though. José de Echave, the ex
vice minister for Environmental Management, warned that these comments belie a
total disregard for the social problems and conflicts that have erupted between
the mining industry and local indigenous populations.
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