largest gas reserves in South America and, at 18 per cent, one of the lowest royalty rates in the world. For the groups calling for nationalization and for more of Bolivia's natural wealth to remain in Bolivia, the law did not go far enough. But for the business sector and mostly foreign-owned oil firms, it was seen as "confiscatory". They objected to a new 32-per cent tax and said the law went too far. The commander of the Armed Forces, Admiral Luis Aranda, also ruled out any talk of putsches, saying that for the army, "the word coup does not exist". Protests have, however, caused changes in the government in the past. In October 2003, street riots over a plan to export natural gas led to the ouster of Mesa's predecessor, Gonzalo Sanchez de Lozada. ---SP 2229 Local Time 1929 GMT
