Magazine article New Internationalist

Yasuní RIP?

Magazine article New Internationalist

Yasuní RIP?

Article excerpt

There is deeply disappointing news for all of us who've been following the progress of Ecuador's proposal to leave some 850 million barrels of crude oil beneath the country's stunning Yasuni National Park. President Rafael Correa seems to have suddenly turned against the initiative, undermining his own negotiating team, denouncing the foreign donors whose support had been painstakingly courted over the last two years, and threatening to drill in June.

The Yasuní initiative seeks international compensation to the tune of $350 million per year to keep the oil in the ground permanently rand thereby avoid deforestation and the emission of some 410 million itonnes of CO2.

Amazon Watch reports that, in his weekly radio address on 9 January, Correa slammed the team led by Minister of Foreign Affairs Fander Falconi for accepting conditions that were 'unacceptable' and 'shameful'. Correa called the effort a threat to the country's sovereignty, just as the team prepared to seal a deal for an international trust fund administered by the UN Development Programme. …

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