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Crossing Continents: Ecuador

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Ecuador

07/04/2011

BBC Radio 4 - Crossing Continents, Ecuador

Ecuador's radical plan to keep oil reserves in the ground, and save the rainforest.

Linda Pressly travels deep into the rainforest to investigate Ecuador's radical plan to keep oil reserves in the ground and so save its pristine rainforest.

The Ecuadorian Amazon region is one of the most bio-diverse on the planet. In one area, nearly 600 bird species, 80 kinds of bat and 150 varieties of amphibian have been recorded. And it's possible that the density of one of the rarest wild cats, the jaguar, is twice as high as anywhere else in the world. This is also home to two of the last uncontacted groups of indigenous people in the world, who choose to live undisturbed in voluntary isolation. 

But beneath the rich tropical soil lies another treasure - nearly a billion barrels of untapped oil, 20% of this Latin American nation's reserves. Ecuador has calculated that if it were to exploit this petroleum, it would make over $7 billion. That is a significant sum of money for a relatively poor nation. But instead, the government has a radical plan: if the international community will compensate Ecuador for half of the loss of revenue, the government will pledge to protect this unique environment and keep the drillers out. With the funds raised, Ecuador will invest in social projects and non-carbon forms of energy, and aims to create a global template for other poor equatorial countries with oil. 

This is what's known as Plan A in Ecuador, and President Correa has set a deadline of the end of 2011 to collect the first US $100 million. If donors don't materialise, he has always said he will implement Plan B - to begin the process of extracting crude from this particular oil block, known as Yasuni-ITT. 

For Crossing Continents, Linda Pressly travels deep into the rainforest to find out what is at stake. She visits a community of Haorani indigenous people who have a history of resisting - often violently - the encroachment of oil companies in the Amazon. And with the recent court judgement against the US oil giant Chevron - who took over Texaco - and a resulting hefty fine of over US$8 billion for pollution, she traces the often dirty history of oil exploitation in Ecuador. 

But how realistic is the Yasuni-ITT initiative? Ecuador's economy is dependent on oil exports. Technology too has moved on, and an oil investor and analyst tells Crossing Continents that not only has the industry learnt some lessons, but also that it is now possible to extract oil from the pristine forest with minimal damage to the ecosystems. 

So far it seems the Ecuadorean people support Plan A. But although international donors have shown moral backing for the government's idea to save the rainforest, this hasn't been matched by contributions to the fund. And with less than half the $100 million pledged, the clock is ticking for one of the world's most unique and precious habitats. 

Producer: Emil Petrie.

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