
Ecuador's leftist President Rafael Correa decreed on Thursday that the government will take 99 percent of windfall oil profits that had previously been split with foreign oil companies.
Oh, the oil companies have probably only been paying 10% anyway under their creative accounting books...
An interesting point of note is that there are NO US Oil Companies in Ecuador now, since the removal of Occidental Petroleum about a year ago. It is likely that folks won't get all up in arms about this since it doesn't affect the US.
That said, I tend to think this is more bluster than anything.
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