Ecuador Seeks Aid Not to Exploit Amazon Oil

A novel proposal by Ecuador is testing world leaders’ commitment to fight global warming and preserve the biodiversity of the Earth.

Ecuadorian officials told an international meeting this week that their government would ban exploitation of huge oil reserves if it was compensated for its effort to save the natural habitat of the Amazon region.
The untapped oil reserves are located in the heart of the Amazon, considered by scientists to be one of the most bio-diverse rainforests in the world. If explored and developed, the fields are expected to deliver more than 900 million barrels of oil.

“If the world truly is interested in saving the planet,” said Ecuador’s representative Lourdes Tiban, “the government has decided to sell the oil, but keep it in the ground.”

Tiban added in her statement that Ecuador would need financial assistance from the international community in exchange for the decision not to exploit the oil. The country will wait up to a year to determine if there has been an adequate response.

IPS News