NO FEARNEWS FROM CORREA
"QUITO, Ecuador, Nov 27 (Reuters) - Ecuador's leftist Rafael Correa, who looks headed for victory after a presidential election, would be open to foreign oil investment and rejects any energy nationalization, a close adviser said on Monday.
"For riskier investments we need to get private investment because the state cannot use its revenues for risky projects," Carlos Pareja, who Correa has said may be named chief of the state oil company Petroecuador, told Reuters.
Pareja also said a Correa government would not push for a nationalization of natural resources. Bolivia's move to nationalize its energy sector earlier this year spooked foreign oil companies and investors."
Conclusion: Ecuador is an exceptionally poor and undeveloped country. In order to develop, it requires international investment. Privatization of UNDEVELOPED resources does not generate any income and does more harm than good.
Not only does the Correa government not plan on privatizing, their first priority was to make it perfectly clear to international investors that fears of leftist privatization are unfounded. PLE is an excellent long-term play, end of story.