Ecuador Seeks Compensation to Continue with Amazon Oil Exploitation

Ecuador is a country of 13 million people, more than half of whom live in poverty. The government claims that oil revenue is necessary to meet the development needs of its citizens. These revenues account for around 40 percent of the federal budget every year.

Ecuador is burdened with over 15 billion dollars of external debt, including substantial amounts owed to the World Bank and Inter-American Development Bank - more than enough to cover Ecuador's ITT compensation offer.

'Ecuador doesn't ask for charity', has said President Correa, 'but does ask that the international community share in the sacrifice and compensates us with at least half of what our country would receive, in recognition of the environmental benefits that would be generated by keeping this oil underground.'

It's time to pay attention to personalities such as Dr. Matt Finer of Save America's Forests, a conservation group based in Washington, DC. who said: 'What are urgently needed now are viable proposals from the international community to present to President Correa.'