One-Third of Ecuador's Rainforests to Be Auctioned Off to Chinese Oil Companies

Almost two years after a controversial bid by the country's politicians to auction off part of the Amazon Rainforest to Chinese oil drilling companies, the it seems like the deal is finally about to get finalized, according to The Business Insider.

Latin Post - Peter de Jesus 27/01/2016

If the deal does go through, China would be free to exploit about 3 million of the country's 8.1 million hectares of pure, untouched Amazonian rainforest. The region has remained pristine despite the advent of industrialization, until now.

Areas of the Amazon are widely believed to carry vast deposits of oil, one of the global market's primary commodities. With China growing at an unprecedented pace, its acquisition of the Amazonian rainforest would, of course, enable the Asian giant to access more resources.

Of course, such a move carries undeniable consequences, most of all being the obvious negative effects on the Amazon's ecosystem. Ecuador, most especially the millions of hectares of pure rainforest, is extremely biodiverse and is widely thought to hold species of animals that are probably yet to be discovered.

However, such biodiversity is also extremely delicate; thus, the oil exploration activities of China might very well compromise its balance.

Axis of Logic stated that the sale of parts of the Amazon was met with much criticism, especially from the indigenous groups who consider the land their home. A previous court ruling has also granted them the right to veto any projects that might involve the environment.

Read more

Fuente Original