Connect with us

Hi, what are you looking for?

Ecuador Political News

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

Ecuador landscape

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.

Archives

You May Also Like

Chevron Ecuador Blog Posts

1. Steven Donziger Is an Adjudicated Racketeer. The U.S. District...

News & Updates

Disbarred lawyer Steven Donziger likes to present himself to the...

News & Updates

A dishonest campaign is underway to rehabilitate disbarred lawyer Steven...

News & Updates

A Dutch appellate court has rejected Ecuador’s attempt to set...