This is an important opportunity to reaffirm U.S. commitment to the Americas, especially in the face of the widespread impression that the Bush administration's interest in and attention to the region has been on the foreign affairs back burner since 9-11.

A lack of jobs is a key problem -- a lack of employment throughout the Andean region, but also a sense that income distribution remains highly skewed.

Now he's turning up the heat.

There's a lot of nationalist drama involved in the decision. It's political fuel.

He needs the companies. He needs to be able to attract foreign investment in the gas industry and oil.

The Peruvian economy, in macroeconomic terms, has performed very well in past years. It's been one of the top performers in Latin America with a very dynamic agricultural and mining, and now energy sector -- very oriented toward export-led growth and has attracted substantial foreign investment. So that's all been very positive.

In any case, his campaign has awakened expectations for economic and social benefits that will be hard to satisfy.