I have lived in Ecuador, and I know people who work for Petroecuador. According to some of them, it was a huge mistake to kick Oxy out of the country. Oxy’s taxes supported the government, and now that the oil fields are state run, Ecuador is in trouble. This all came about because some politicians felt that Ecuador’s sovereignty was being threatened by a large oil company, well now it is being threatened by another country in the region. If things heat up expect the U.S. to step in, we have in air base in the coastal city of Manta, and a interest in stability due to the U.S. Dollar being used there, and Ecuador’s location.
I think it's always a huge mistake to nationalize industry.
I hope we don't have to step in. Maybe Ecuador will cut a deal with Occidental to back out of the spot it is now in.
The US has an airbase in Ecuador? I never knew that..