Just read an wonderful article how Ecuador just told Occidental Petroleum to pack its bags and get out of Dodge.
In 1982 Occidental leased 200,000 hectares of land from Ecuador for oil exploration and exploitation while getting that country to front the costs for set up and exploration. In 2000 Occidental tranferred 40% or its interest in the oil fields to a Canadian Company who subsquently transfered them to Chinese company without notifying or seeking the permission of Ecuador. (Kinda like someone borrowing your car and then leasing to someone else to make a profit).
Apparently this deal was in clear violation of the contract with Ecuador which stated that unauthorized leasing of Ecuadorian land is grounds to annul the deal. Oops. Ecuadors response--get out!!
Of course the United States has stepped in with a barrage of political and economic threats and Occidental is attempting to have the matter arbitrated by the World Bank. Unfortunately for Occidental the contract spells out that in the case of contract cancellation, there ain't no arbitration!
Anyway, a good read if you have the time.
http://adbusters.org/...