Ecuador’s Vast Oil Wealth May Never Be Tapped

Over a decade of resource nationalism, an alleged corrupt billion-dollar Ecuadorean court verdict against energy super major Chevron, economic instability, civil unrest and aging infrastructure are sharply impacting Ecuador’s economically crucial oil industry. The magnitude of these negative events is being multiplied by the fallout from the COVID-19 pandemic which has almost crushed Ecuador’s fragile economy. Last year the Andean country was rocked by violent protests against President Lenín Moreno and his pro-business economic…