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Ecuador shelves big idea for saving the Amazon

2013-08-16 19:10:00| Climate Ark Climate Change & Global Warming Newsfeed

Mongabay: The fate of the most biodiverse rainforest on Earth has been decided: it will be drilled for oil. On Thursday Ecuadorian President Rafael Correa said he has abandoned a plan that would have prohibited oil extraction from Yasuni National Park in Eastern Ecuador in exchange for payments to leave the crude in the ground. Correa had sought $3.6 billion in contributions - equivalent to roughly half the value of the 846 million barrels of oil estimated to lie under the rainforest reserve - but managed...

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