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Posted Mon Jun 14 2010: from National Geographic News:
Ecuador Puts a Price Tag on Untapped Oil
In the coming weeks, Ecuador aims to sign a unique agreement to forgo drilling for oil in a huge plot of this rain forest in exchange for money. The idea is that contributions from industrialized nations and, potentially, from corporations would make up for the badly needed petroleum revenue that the South American nation would lose by keeping the fossil fuel underground....If it comes together, some hope that the so-called Yasuní-ITT Initiative -- named for the area's Ishpingo, Tiputini, and Tambococha oil fields --could be a model for combating global warming.
[Read more stories about: carbon emissions, rain forest depletion, smart policy]

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