The Ecuadorian government has abandoned its moratorium on oil drilling in Yasuni National Park as a proposal to protect the park with the help of international donations fell apart. In a nationally televised speech, President Rafael Correa blamed the failure of the ambitious conservation plan on a lack of funds, saying that a UN-administered trust fund had raised only $13 million of the $3.6 billion target. Located in eastern Ecuador, where the Amazon basin ascends into the Andes, Yasuni is home to an unprecedented number of animal and plant species. According to a 2010 study, one section of the park held at least 200 species of mammals, 247 amphibian and reptile species, and 550 species of birds. But Yasuni also sits atop an estimated 1 billion barrels of oil. Correa had said Ecuador would forego oil income and protect the park if foreign donors would contribute billions of dollars to compensate for the loss of oil revenue.
Ecuador Abandons Moratorium On Oil Drilling in Biodiverse Yasuni Park
More From E360
-
Biodiversity
Will a Nile Canal Project Dry Up Africa’s Largest Wetland?
-
Cities
The Living City: Weaving Nature Back Into the Urban Fabric
-
Energy
Bitcoin’s Intensive Energy Demands Are Sparking a Crypto Backlash
-
Energy
How Russia’s War Is Putting Green Tech Progress in Jeopardy
-
Food & Agriculture
Pollen and Heat: A Looming Challenge for Global Agriculture
-
OPINION
Wrong Turn: America’s Car Culture and the Road Not Taken
-
Climate
Solution or Band-Aid? Carbon Capture Projects Are Moving Ahead
-
WATER
The Vanishing Rio Grande: Warming Takes a Toll on a Legendary River
-
Biodiversity
A Waterway Project in Brazil Imperils a Vast Tropical Wetland
-
Solutions
In Tanzania, Carbon Offsets Preserve Forests and a Way of Life
-
OPINION
Beyond Magical Thinking: Time to Get Real on Climate Change
-
INTERVIEW
How Ailing Strip Malls Could Be a Green Fix for U.S. Housing Crisis