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+ - Ecuador Proposal: Pay us to Keep the Oil Underground-> 3

Submitted by Lasrick
Lasrick (2629253) writes "Dawn Stover with a fascinating piece on Ecuador's Yasuní ITT Initiative, in which Ecuadorian president Rafael Correa has offered to forego oil drilling in 3 areas of Yasuni National Park in exchange for $3.6 billion from the international community. In so doing, the country would leave some 850 million barrels of oil untouched, and about 400 million tons of carbon dioxide un-emitted. The area is prime Amazonian jungle, and the bio-diversity found within it is priceless. "It has invited other nations—most pointedly, those that grew rich on fossil fuels and are now worried about global climate change—to pay to leave the oil underground.""
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Ecuador Proposal: Pay us to Keep the Oil Underground

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  • This is akin to hijacking the world to prevent oil from being produced. Bad idea.
    Any such monies should be directed to scale up hybrid / EV / Fuel Cell cars, which is a permanent solution to our Oil addiction.

    • by schwit1 (797399)

      If your electricity comes from fossil fuels(coal or oil) then trading an internal combustion engine vehicle for a plug in hybrid is meaningless.

      • WRONG !
        A Tesla Model S consumes so little electrical power that even if the grid were 100% coal, but at least state of the art non CO2 sequestering coal, it would still produce about 1/3 the total CO2 well to wheels than Oil production. It also requires less than 10% of total maintenance costs / resources, no engine/transmission oil changes, very little brake pads wear due to regen breaking.
        The ones arguing against Electric vehicles insist on ignoring CO2 produced by extraction, transport and refining of Oi

If this is timesharing, give me my share right now.

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