jock

Analysts Mixed on Mining Risk in Ecuador

There are differences between Ecuador and Venezuela:

1. Ecuador is poor, lacks VZ's oil, and needs economic development.
2. Pres. Correa has a Phd in economics from U. of Illinois, Urbana - while Chavez did not attend university, and had an entirely military career. Chavez thinks command and control; while Correa is critical of Wall St., he knows economics.
3. Extractive industries are controversial in Ecuador; although mining is new, Texaco and other oil companies caused major public health and environmental damage in Ecuador.

Sure, Correa has to ride herd on a raucus political process, but at the end of the day, I think western miners who can "dance with the music" will find happiness in Ecuador.