The government of Ecuador has abandoned a plan that would have kept part of the Amazonian rainforest off limits to oil drilling. The initiative was an unusual one: Ecuador was promising to keep the oil in the ground, but it wanted to be paid for doing so.
The oil sits under the Yasuni national park, one of the most biodiverse places on Earth — orchids, jaguars, monkeys, birds. To get the corner of the park that holds the oil, you have to take a plane, then a motorboat, then paddle a canoe. “Even the sound of the motor will destroy the fragility of this place,” Ivonne A-Baki, who works for the Ecuadorian government, told me this year.
In 2007, the country’s president, Rafael Correa, told the world that Ecuador would leave the oil in the ground. But the country wanted to be paid half of what the oil was valued at, at the time. Ecuador wanted $3.6 billion.
For more on this story, visit: Ecuador To World: Pay Up To Save The Rainforest. World To Ecuador: Meh. : Planet Money : NPR.