Ecuador's president abandons no-drilling plan

[Zorro]

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 said the global recession was in part responsible but chiefly blamed "the great hypocrisy" of nations who emit most of the world's greenhouse gases.

"It was not charity that we sought from the international community, but co-responsibility in the face of climate change."

http://news.yahoo.com/ecuadors-president-abandons-no-drilling-plan-012654652.html

"Pay or we drill" always seemed like a poor argument for Correa to make, and true to form he criticizes developed countries for not giving him free money.

[COLGATE4]

1. Correa never misses an opportunity to

make an ass of himself.

[Socialistlemur]

2. It was an interesting idea but he had no credibility

The idea was to protect the tropical forest. I've been in the region as an advisor to the Ecuadorians and I think the problems in nearby areas already one to oil exploitation show the Ecuadorian government has no real compass regarding environmental protection. In the end, cash is king. I can't say much more but the key point is this idea while good on paper had zero credibility. He can blame himself for that. He is smart but he also tends to be a wise guy.