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Ecuador Political News

Opinion: Fuel Subsides Fan the Flames in Latin America- Bloomberg

As turmoil rumbles across Latin America, energy prices have emerged as a potent flashpoint. Ask Ecuador’s President Lenin Moreno, whose government was almost toppled this month by protests against increases in the cost of gasoline and diesel fuel.

By now, this script is both tragic and familiar. In recent years, similar stories have played out in Argentina, Mexico and, most visibly, Brazil, where a trucker strike over higher diesel prices in May 2018 gridlocked the economy and forced the government to cave to protesters’ demands.

The culprit in all these cases was the same: fossil-fuel subsidies, which are widely regarded as wasteful, environmentally harmful and almost entirely ineffective. All too often, efforts to end them have ignored hard-earned experience, leading to avoidable economic disruption and civic unrest.

To read the full article on Bloomberg, click here.



#Factsmatter: An international arbitration panel found ‘no cogent evidence’ supporting #Ecuador’s claim that #Texaco failed to comply with terms of remediation in #Amazon.
The @WSJ sums this case up nicely, “[Steven Donziger] and his team fabricated evidence, promised $500,000 to an #Ecuadorean judge to rule in their favor, ghostwrote much of the final verdict and took other actions that ‘perverted’ the course of #justice. Mr. Donziger disputes the…
Shameless. Disbarred and convicted of criminal contempt of court for bribing an Ecuadorian judge in an attempted extortion scheme, @SDonziger is nonetheless accepting invitations to speak at #climate rallies. Read more about this adjudicated racketeer:
Sworn testimony: While Texaco met its environmental obligations in the Amazon, #Ecuador’s national oil company did “absolutely nothing” to address its own remediation in the area. #FactsMatter:
DENIED: @SCOTUS rejects hearing case of Steven Donziger, who bribed Ecuadorian judge in failed effort to bilk Chevron for billions of dollars.

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