Ecuador Banks on Black Gold
Oil sales account for 40 percent of Ecuador’s budget. Since 2008 the price of a barrel of Ecuadorian oil fell from US $118 to a mere US $30. I wanted to find out how the major town producing Ecuador’s oil has been affected by the market crash. So, I headed to the oil capital of Ecuador – a border town called Lago Agrio. I produced this story about oil, the U.S. Dollar and the vulnerabilities of Ecuador’s economy for VJ Movement.