Ecuador Amazon Fund

Ecuador would rule out oil drilling in Yasuni National Park if it received financial support to cover lost profits. Yasuni National Park, located in the Amazon rainforest, is a United Nations biosphere reserve and home to isolated indigenous tribes. If Ecuador does not drill in the park’s oil reserves, it stands to lose an estimated $6 billion over 10 years, but this would prevent 410 million metric tons of carbon dioxide from contributing to global warming. Ecuadorian President Rafael Correa was in London this week to promote an initiative that would prohibit oil drilling if other countries pay Ecuador at least half of the expected revenue, or $3 billion. Germany, Spain, and France have expressed interest in the plan, but they have not made any firm promises.