Ecuador's oil gauntlet
When Ecuador's left-wing President Rafael Correa drastically increased the state's share of oil revenues in October, and oil minister Galo Chiriboga also announced that contracts with foreign oil companies had to change, industry analysts said the country had gone too far.
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Since: Jan 10
#1 Apr 18, 2010
This BBC article is 2.5 years old! Why is this new news?
There is some continuing relevance however, as Correa is seeking more money from the foreign oil companies. He is primarily doing this because his budget is at a deficit and he can not borrow any money outside Ecuador since defaulting on bond payments that we due.....
He also wants to build a $4 million dollar park in the middle of no where, instead of creating jobs for his people. This is a sick man who is only interested in how much power he can get!
#2 Apr 18, 2010
Dear Latino_gringo, you are right on all of this of course. Except, in your last sentence. Correa is also only interested in how much money he can get. Question: with this oil thing is he trying to imitate his rascally "amigo" en Venezuela? Es verdad.
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