Watching the World - Ecuador tries on a fig leaf

Fig leaves are all the rage these days, especially in Latin America. But the one being tried on by Ecuador over its seizure of Occidental Petroleum Corp.’s assets just doesn’t fit. In fact, the bigger it gets, the less it hides.Last week, Ecuador President Alfredo Palacio sent troops to guard facilities seized from Oxy as they were being transferred to state control (OGJ Online, May 16, 2006).The office of the US Trade Representative, which had been in talks about a trade agreement with Ecuador, said the move “appears to constitute a seizure of the assets of a US company” and said there would be no more discussions on a trade deal. Occidental had its own take on th...

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