Ecuador’s Oil Industry Hit with Worst Environmental Disaster in Decades

Ecuador’s oil industry is caught in a death spiral. Decades of corruption, dwindling private investment, corroded infrastructure and environmental disasters are all weighing on production and reserves growth. Environmentally damaging oil spills are a common occurrence, with evidence suggesting that the national government in Quito is failing to prevent these harmful events. President Daniel Noboa’s commitment to reviving the economically crucial oil industry risks serious pollution, especially with cocaine related violence distracting…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com