Friday, April 27, 2007

Environmental compensation or opportunity cost payment

The Environmental News Service and Mother Jones' blogger April Rabkin report that Ecuador is seeking a compensation of US$350 million a year NOT to develop a major oilfield in the Ecuadorian Amazon.

I've heard of this argument from the developing world as far back as 10 years ago. I think it's a provacative proposal and is a subliminal indictment of the developed world's appetite for cheap oil and the transfer of the conservation burden to the developing world.

It's about opportunity cost and the trend of some in using neoliberalism in turning, as they say, the tortilla over. In this case, using capitalism against the capitalist...Intriguing..

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