Ecuador: Correa states at current rates of extraction, oil will be depleted in ten years

The country has the spot with 3.487 million barrels of reserves, which at current rates of extraction of 188 million barrels a year, will be exhausted within 10 years. The president gave this information in the context of the launch of a tender for companies set to explore the southeast of the country this week. That process is opposed by some indigenous organizations, who argue that oil extraction will damage the environment, although the government says it has community acceptance, after they are accessed. Read Article