Hard to See How Any U.S. Company Would Get a Fair Shake

By April 17, 2010Energy, Trade

From Reuters, “Ecuador Threatens to Take Over Foreign Oil Firms“:

“Every day that passes there are millions of dollars going to these companies that should be going to the Ecuadorean state,” Correa said during a televised address.

“I’ve run out of patience,” he said. “We are sending a bill to Congress that would allow for the expropriation of oil fields if the companies not want to sign the new contracts.”

AFP, “Ecuador’s Correa to propose oil nationalization bill

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