Ecuador according to President states, economy could collapse if new oil resources not disovered

Posted on April 6, 2013 • Filed under: Economy, Ecuador, Enviromental Issues, Oil reported that Ecuador’s economy could collapse if not discovered new oil reserves-second source of income for the country-and diversifying the energy matrix, warned on Saturday President Rafael Correa to defend an open bid to explore oil in the Amazon. “The country’s energy mix is ​​not sustainable unless we find more oil. Country will collapse by 2020 if we do not improve reserves and oil exploitation,” Correa said in his weekly work. The leftist president recalled that 90% of its energy comes from Ecuador oil and its derivatives, while 4% is natural gas and 3% to water sources. Read Article

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