Letter from South America: The rise and fall of Ecuador’s oil industry

Uncertain whether political change would change Opec member’s energy fortunes

Ecuador, once regarded as an island of tranquillity in a troubled sea, has recently begun to resemble its neighbours in terms of instability. Sadly, the only thing that seems to remain predictable is the decline in oil production from the erstwhile Opec member. Current president Guillermo Lasso had been focused on increasing production and investment in the oil sector, but those policies are in question following his use of a constitutional rule known as ‘muerte cruzada’, through which he has dissolved Ecuador’s National Assembly to avoid potential impeachment. Lasso’s inability to finish his term may portend a more dramatic trend in Latin America in general. As electorates in the region are