Ecuador seeks oil 'compensation' (BBC) {pay to leave oil underground?}

[eppur_se_muova]

By Daniel Gordon
BBC News

The Yasuni National Park in Ecuador is reckoned to be one of the most biodiverse regions on the planet. Beneath it, though, lie an estimated one billion barrels of oil.

The Ecuadorean government has begun negotiating with oil companies interested in bringing that oil to the surface, although President Rafael Correa says his preferred option would be to leave the reserves untouched.

Earlier this year, Mr Correa announced a one-year moratorium on oil exploration in the area and launched a plan aimed at safeguarding the Yasuni park, which covers some 9,820 sq km (3,791 sq miles) in the country's Amazon rainforest region.

Under the proposal, Mr Correa is asking for foreign donations worth $350m (£175m) in exchange for a promise not to exploit the Yasuni reserves, but how feasible an idea is it?

One of the people responsible for developing the proposal is Carlos Larrea, a professor at the Andean University in Quito, who says it is an entirely original approach to tackling climate change.
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more: http://news.bbc.co.uk/2/hi/americas/7000345.stm

[AlecBGreen]

1. nice idea

$350 million is a lotta loot. I wouldnt hold my breath...