This article examines energy security in Bolivia during the Evo Morales administration, focusing on natural gas. The article begins by analyzing the Gas Wars and the consequences of such events. Despite the anti-imperialistic rhetoric, President Morales’ administration has implemented fairly conservative fiscal policies. This work focuses on the various challenges that Bolivia faces. Brienen argues that Bolivia will likely become a minor energy player in the regional market as opposed to an energy power house. It is also important to note that many social programs have been funded by the profits from natural gas. However, if more natural gas is not found, it could be possible that Bolivia could become “ungovernable.”