Friday, September 17, 2010

Ecuador and "The Yasuni Initiative," A Plan NOT to Drill

Sarah Ogletree
9/17/2010
12:53 AM


Yasuni National Park in Ecuador is one of the most bio-diverse places on Earth. The 4,000-square-mile rainforest is home to 655 species of trees, and 100,000 species of insects, at least 200 species of mammals, 247 amphibian and reptile species, and 550 species of birds. Yasuni also includes the ancestral lands of the Waorani Indians, and two native groups live in isolation within the park. Beneath all this however, lies a billion barrels of oil.

Oil companies have pushed the Ecuadorian government to drill in Yasuni, but so far they have resisted. The preservation of this unique area is important to Ecuador. But oil and the question “to drill or not to drill” is still a very prominent one. This comes down to the estimated 3.6 billion in a mere 13 years should Ecuador make the decision to drill. But they have a plan.

In 2007, the Ecuadorian government came up with the idea of foregoing drilling in Yasuni in exchange for payments from the international community, asking for half of what they would receive from drilling. On August 3rd, Ecuador and the United Nations signed a historical document for the management of such funds from donors. This is called the The Yasuni Initiative. Now however, as Ecuadorian officials travel worldwide in search of donations, many worry that Ecuador will not be taken seriously. Though the general thought is the involvement of The U.N. has increased credibility.

Ecuador’s deal is (if they can raise 100 million in 18 months) they will never drill in Yasuni, and if the contract is breached, they will pay back all the money donated. This will keep “470 million tons of carbon dioxide in the ground,” encourage ecotourism in Ecuador, and pave the way toward a global understanding that protecting the environment is a marketable and worthwhile decision for reasons other than having some trees to hug. This handling of natural resources will also serve as an example to other developing countries.

I feel this article not only presents the situation in Ecuador in a well-thought out manor, but also comes at it from many perspectives. The article explains both why people the initiative will be successful, and why others are skeptic. It explains the reason drilling is being considered, and why Ecuador, unlike so many countries, is holding off and trying to do without. I feel this article is exceptionally well-formed, and I personally love the idea presented.

http://e360.yale.edu/feature/deep_in_ecuadors_rainforest_a_plan_to_forego_an_oil_bonanza/2315/

No comments: