Sunday, March 31, 2013

Ecuador To Sell A Third Of Its Amazon Rainforest To Chinese Oil Companies

Ecuador is planning to auction off three million of the country's 8.1 million hectares of pristine Amazonian rainforest to Chinese oil companies, Jonathan Kaiman of The Guardian reports. The report comes as oil pollution forced neighboring Peru to declare an environmental state of emergency in its northern Amazon rainforest.
Ecuador owed China more than $7 billion — more than a tenth of its GDP — as of last summer.
Ecuador To Sell A Third Of Its Amazon Rainforest To Chinese Oil Companies Read more: http://www.businessinsider.com/ecuador-selling-its-rainforest-to-china-2013-3#ixzz2PBhOI8Ab

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