Economic Impact of Oil on the Ecuadorian PGE, Period 2014-15

Economic and geopolitical factors have caused the decrease in the price of a barrel of oil, the development of technology through the fracking technique, used by several countries for the exploitation of hydrocarbons without eco-sustainable standards that support this process, undoubtedly affects the environment and at the same time involves individual interests of each economy that seeks to satisfy its consumption and become self-dependent on imports derived from oil. As an important part of national planning and the economic dynamism of the country, the projects of social, economic and environmental inclusion in the National Plan for Good Living and change of the productive matrix in charge of the Vice Presidency, support the transformation and development of strategic sectors to strengthen competitiveness, betting on an energy economy that seeks to be independent of oil and that serves the welfare of society.