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Ecuador's president abandons no-drilling plan

2013-08-16 15:35:53| Climate Ark Climate Change & Global Warming Newsfeed

Associated Press: President Rafael Correa said Thursday that he has abandoned a unique and ambitious plan to persuade rich countries to pay Ecuador not to drill for oil in a pristine Amazon rainforest preserve. Environmentalist had hailed the initiative when Correa first proposed it in 2007, saying he was setting a precedent in the fight against global warming by lowering the high cost to poor countries of preserving the environment. "The world has failed us," Correa said in a nationally televised speech. He...

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