Saturday, October 11, 2014

Morales Ahead in Ecuador

Bloomberg Businessweek reports polling which shows Evo Morales should have no difficulty in winning the presidential election scheduled for tomorrow. His popularity is based on having nationalized the country's natural gas fields and then spending the profits on development projects.

Bloomberg believes the economic boom of the last 8 years has perhaps two more years before the developed gas begins to run out. Given the nationalization, nobody is much motivated to explore for new deposits to replace the one's already being depleted.