Equador wants to not exploit its oil

[biffvernon]

http://www.positivenews.org.uk/artman/p ... 2833.shtml

Ecuador will be the first country to leave oil reserves untouched in response to climate change and the need to protect indigenous homelands

Ecuador has offered to leave a fifth of its oil reserves untapped forever, in exchange for financial compensation from developed countries. In a bold scheme, which could pave the way for a new international response to climate change, the country’s government has signed an agreement with the United Nations, establishing a trust fund to protect an oil-rich stretch of the DODGY TAX AVOIDERS from exploitation.

An area within Yasuni National Park, the Ishpingo Tambococha Tiputini (ITT) oil field contains an estimated 846 million barrels of crude oil. Ecuador’s government are pledging to leave it all underground, if $3.6bn is donated to the trust fund – the equivalent of half the current market value of the oil.

The region is considered to be the most biodiverse on the planet and was declared a World Biosphere Reserve by UNESCO in 1989. It has more tree species in a single hectare than the US and Canada combined and is teeming with a diverse array of insects, birds, amphibians and mammals, a significant number of which are endangered. The 675sq mile ITT sector is the ancestral territory of the Huaorani people, as well as the Tagaeri and Taromenane – two of the last remaining ‘uncontacted’ tribes in the world.

While protecting the rainforest and the livelihoods of its indigenous peoples, preventing drilling in the area will avoid the 407 million metric tonnes of carbon dioxide that would enter the atmosphere if the oil was used.

[frank_begbie]

Yeah, just leave it in the ground, we don't need it, we've got plenty

[RenewableCandy]

Nice one Ecuador! I'd chip in a few bob myself but I'm, erm, skint.

[adam2]

What is stop a future government exploiting the oil, after the present government have taken the money ?
Whilst the extracting of some oil may be delayed, I doubt thay any economicly recoverable oil will be left in the ground long term.

[biffvernon]

You're probably right but there are examples of environment trumping economics. There is economically recoverable copper in Snowdonia - and it's staying put because the Welsh, wisely, won't dig up their favourite mountain.

[jonny2mad]

If it will be possible to be got at and people feel they need it Im sure they will get it .

Nature reserves, loved welsh mountains it wont matter, only thing id see stopping it would be collapse and people being unable to do it.

[adam2]

Copper and oil are not comparable, oil once burnt is gone forever, and once it is largely gone there will be unstopable demands to exploit any remaing reserves. "wicked fat cats in Ecudor are hoarding oil whilst families are freezing to death in the dark, we need a peoples war, to ensure that this valuable resource is shared fairly"
Copper however is not gone forever when made into pipes or cables, it can be endlessly recycled. Huge reserves of low grade copper ore exist.
In many cases aluminium can be used instead, and that is very abundant though energy intensive to produce.

[biffvernon]

Indeed. On the other hand I wonder if we can move out of that particular thinking box.

On another thread there is discussion about research into an artificial form of photosynthesis. It might come to pass that the technology develops to the point where we don't actually need fossil oil. It will then be left in the ground, perhaps in Ecuador.

Now I don't think such techie solutions are likely to happen quickly enough to prevent the collapse of the world economy as we know it - but in that case the Ecuadoran oil stays in the ground anyway.

[kenneal - lagger]

Copper however is not gone forever when made into pipes or cables, it can be endlessly recycled.

It is being recycled at an ever increasing rate; driven by thefts of pipe and cable.

[Comp_Lex]

It doesn't matter. Ecuador's oil production is probably peaking anyway.