In other words, there may be enough oil but there sure
won't be enough gasoline.

• Current storage capacity: 727 million barrels
  
• Maximum drawdown capacity: 4.4 million bpd
  
• Days of import protection: 59
  
• Time for oil to enter market after presidential order: 13 days
  
• Average price paid per barrel: 27.25
  

I used to have it in European ETFs, IEV and VGK,
any other ideas?

Lucio Gutierrez was kicked out of office for trying to pull a chavista 'revolution' out of the hat. Since then Ecuador has been in a constant state of semi-chaos. Alfredo Palacio is meant to be the president of that country, however his orders are not followed through. His ministers are forging deals behind his back without consulting with him. Furthermore he is surrounded by elements that are only too keen to embrace Hugo Chavez, read Rafael Correa and Antonio Parra Gil.

 

In the meanwhile Lucio Gutierrez is in Peru trying to buy his way back to Ecuador's presidency. The outlaw's minions have presented a plea to have a court void the Congress' resolution that ousted him. Taking into consideration that Ecuador lacks both Supreme Court and Constitutional Tribunal a judge of first instance will rule on the matter.

   

Then there's the strike in the Amazonian states Sucumbíos and Orellana that has Gutierrez' imprints all over the place. Mind you sheer happenstance makes that some prefects start demanding the oil companies to have 200KM of road paved; to hire local workers; to develop social programmes; to pay them, the prefects, 25% of taxes... Where have I heard this script before? According to military intelligence Gutierristas are behind the unrest. Oil production has been halted, but lossing millions is not something that has, ever, preoccupied revolutionary minds.

Although the article has an obvious bias, the news is still
clear, it can only be that the Bush Administration has too
many pots boiling to pay Ecuador serious attention.  If not
for Iraq and the associated stories Ecuador and Chavez
would be all over the American news.

http://www.vcrisis.com/index.php?content=letters/200508200629

cross posted from etrans.blogspot.com