(MENAFN- The Rio Times) Bolivia is trying to replace the engine that powered its economy for two decades. Certified natural-gas reserves have dwindled to roughly 4.5 trillion cubic feet (end-2023).

Export income that once topped about $6.01 billion in 2014 fell to roughly $1.6–$2.05 billion last year. Gas sales to Argentina ended in 2024, and parts of the pipeline grid now ferry Argentine gas across Bolivia toward Brazil.

The result at home: fuel lines and a weekly scramble for hard currency, with roughly $55–$60 million needed to keep subsidized diesel and gasoline flowing.

The election turns on what replaces gas-and how. Former president Jorge“Tuto” Quiroga and Rodrigo Paz both promise a new hydrocarbons law to lure private capital, speed permits, and restart exploration after years of underinvestment.

Supporters call it the only way to find new reserves fast. Skeptics warn that shifting back to a 1990s-style regime could erode state leverage without guaranteeing fresh discoveries.



The story behind the story is a pendulum. In the 1990s, Bolivia liberalized oil and gas and cut the state take to entice drilling. After the 2003“Gas War,” the country raised taxes and asserted tighter control.
Bolivia's Energy Shift Tests Its Next Growth Engines
The model brought revenue and expanded household gas use-but exploration lagged. As mature fields declined, reserves were not fully replaced, and the export windfall waned.

With gas fading, two candidates for dollar inflows stand out. Agriculture and livestock-led by soy and beef -could scale quickly if export caps ease and logistics improve; without better roads, reliable electricity, and faster border crossings, producers struggle to compete.

Mining is already a heavyweight: gold, zinc, silver, and tin generated about $6.25 billion in exports in 2023, a vital source of foreign exchange even as royalty take remains a contentious issue.

Why this matters beyond Bolivia: policy choices in La Paz will shape fuel prices, jobs, and the boliviano-and influence energy flows to Brazil.

Watch for the fine print of a new hydrocarbons law, credible timelines for drilling, steady weekly funding for fuel imports, real logistics upgrades for farms and ranchers, and a serious debate on mining taxes and royalties.

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