Ecuador Approves Yasuni Park Oil Drilling in Amazon Rainforest

Ecuador is moving to open an Amazon national park, one of the most biodiverse areas in the world, for oil drilling. Developed nations balked at a UN-backed conservation plan that included international payments for not drilling in Yasuni National Park, reports BBC News. “Oil is Ecuador's main export,” reports the article, adding that drilling could start in weeks. President Rafael Correa suggests that Ecuador is seeking “not charity from the international community, but co-responsibility in the face of climate change.” The oil reserves’ worth is estimated at more than $6 billion: Ecuador would forgo the revenue if the international community covered half; instead, the world kicked in $13 million, a fraction of 1 percent. More than 75 percent of Ecuadorans oppose drilling for oil in the park, and the plan was a global model to combat relentless plans to drill oil and preserve natural areas. Correa is ending the UN-backed fund to protect the park that holds about 20 percent of Ecuador’s oil reserves and concludes “the world is failing us.” – YaleGlobal