On May 1st, the day the Bolivian government announced the “nationalization” of the country’s vast oil and gas reserves, I went out to witness the symbolic takeover of a former Bolivian refinery that was privatized in the late 1990s. A cheering crowd looked on as a young employee of Bolivia’s state oil and gas company, Yacimientos Petroliferos Fiscales Bolivianos (YPFB), strung a YPFB banner over the metal letters spelling out the name of the Brazilian company Petrobras. Another banner hung on the front gate proclaimed, “Nationalized: Property of Bolivia.”