The Honduran government reversed its decision to take over oil storage terminals in attempt to lessen oil prices for the Central American country’s impoverished population.
The reversal, announced last Friday, followed a threat by U.S. Ambassador Charles A. Ford, who said that “the consequences of this situation could be serious.”
The government decision was made public after an adviser to President Manuel Zelaya met with oil executives.
A congressional commission determined that the proposed program to take control of the storage terminals would have saved the country $66 million a year.
