Gutsy Ecuador proposes to put a lid on oil.
Little countries can find the strength to do big things that big countries fear to do. For the good of itself, for the good of the planet, the South American country of Ecuador has proposed to keep the lid on nearly one billion barrels of oil under its Yasuni National Park.
Despite the fact that Ecuador depends on one-third of its budget from oil exports, there will be no oil extraction, no oil exploration from the ITT oil field under Yasuni. Under the YasunÌ-ITT Initiative the country will forgo the stream of revenues the oil would provide. Ecuador will be the first country in the world to deliberately leave significant oil reserves underground - and those revenues - for the betterment of the planet while seeking to build a sustainable green economy.