Ecuador says mining, oil must be in state hands
Sun May 24, 2009
During his first two years in office Correa has taken a tough stand with mining and oil companies, pushing for new contracts more favorable to the state, but has so far shied away from nationalizing any firms.
“We will fulfill the goal of having strategic sectors in government hands,” Correa said.
The U.S.-educated economist has recently said he will not nationalize foreign oil companies, but will push for more state control in the key industry via new contracts.
During a joint news conference with his Ecuadorean counterpart, Venezuelan President Hugo Chavez said his drive to nationalize strategic sectors of his own country’s economy would continue.
President Correa interviewed: here.