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Why Ecuador Abandoned Plans to Leave Fossil Fuels in the Ground and Save the Amazon

2013-09-06 22:04:00| Climate Ark Climate Change & Global Warming Newsfeed

EcoWatch: On Aug. 15, Ecuadorian President Rafael Correa announced his governments abandonment of the Yasuni-ITT Initiative, the innovative attempt to reverse the economic arrangement of oil extraction in the Amazon by keeping the oil in the soil in exchange for international assistance. His words that evening were disheartening to many. They encroached on the hopes of environmentalists and indigenous rights activists in Ecuador and progressives around the world. Correa had announced on Ecuadorian state...

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