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
-
Climate
Scientists Are Trying to Coax the Ocean to Absorb More CO2
-
INTERVIEW
Marina Silva on Brazil’s Fight to Turn the Tide on Deforestation
-
Solutions
Solomon Islands Tribes Sell Carbon Credits, Not Their Trees
-
INTERVIEW
With Sea Turtles in Peril, a Call for New Strategies to Save Them
-
RIVERS
Jared Kushner Has Big Plans for Delta of Europe’s Last Wild River
-
Energy
A Nuclear Power Revival Is Sparking a Surge in Uranium Mining
-
OPINION
Despite Official Vote, the Evidence of the Anthropocene Is Clear
-
INTERVIEW
At 11,500 Feet, a ‘Climate Fast’ to Save the Melting Himalaya
-
Oceans
Octopuses Are Highly Intelligent. Should They Be Farmed for Food?
-
Climate
Nations Are Undercounting Emissions, Putting UN Goals at Risk
-
Solutions
As Carbon Air Capture Ramps Up, Major Hurdles Remain
-
ANALYSIS
How China Became the World’s Leader on Renewable Energy