Ecuador cuts deal to leave oil underground

A $5.7 billion scheme in Ecuador promises to provide the first blueprint for a truly green oil deal -- one that would leave the oil in the ground. Ecuador has pledged not to develop the oil reserves located under the ecologically sensitive and biodiverse Yasuni National Park provided that wealthy countries pay out at least half the market value as compensation for their oil abstinence. The deal came about after the U.N. Development Program agreed to serve as the administrator for the ecological trust fund, which would preserve the reserve that is home to the world's last remaining uncontacted tribes.

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