• 4 minutes Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 9 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 17 minutes Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 1 hour Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 12 hours Corruption On The Top: Netanyahu's Wife Charged With Misuse of Public Funds for Meals
  • 1 hour Saudi Arabia turns to solar
  • 34 mins Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 6 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 1 hour Why is permian oil "locked in" when refineries abound?
  • 55 mins Teapots Cut U.S. Oil Shipments
  • 18 hours Gazprom Exports to EU Hit Record
  • 18 hours OPEC Meeting Could End Without Decision - Irony Note Added from OPEC Children's Book
  • 18 hours Could oil demand collapse rapidly? Yup, sure could.
  • 31 mins Oil prices going down
  • 14 hours U.S. Withdraws From U.N. Human Rights Council
  • 2 hours Hot line, Macron: Phone Calls With Trump Are Like Sausages Best Not To Know What Is Inside
  • 2 hours Putin Says 'Fierce' U.S. Politics Hindering Summit With Trump
  • 11 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 17 hours Sell out now or hold on?
Canada’s Oil Crisis Is Far From Over

Canada’s Oil Crisis Is Far From Over

While the Canadian government has…

A New Film Sheds Light On Oil Development In Ecuador

Oil pipeline

The question of resource development versus conservation is not a new one. And depending on where one lives, it may be a question that comes up monthly, weekly or even daily. Anyone who lives an area that has oil and gas is familiar with the controversies surrounding watersheds, fracking, emissions, erosion and a host of other issues that come with the development of fossil fuels. Advocates on both sides of these issues in the United States tend to limit their discussions to development here, and it is often all too easy to overlook foreign companies engaged in development overseas.

For the past seven years, biologist Ryan Killackey, a native of the United States, has been in the Yasuni biosphere reserve in Ecuador, creating the film Yasuni Man. The film documents the issue of resource development and its impacts on the environment and the people in that remote region, as oil companies from the United States and China seek to tap the reserves in the area.

Reserves worth approximately $7.2 billion have been discovered in the area, and in 2007, the government of Ecuador announced that it would leave the oil in place, if the global community would compensate it for doing so, by contributing at least half of the resource’s worth: $3.6 billion.

The idea, called the ITT Initiative (for the Ishpingo, Tambococha and Tiputini regions) raised only $13 million, and Ecuador’s president Rafael Correa put an end to the effort. Despite the support for leaving the oil untapped, in 2013 Correa approved drilling in the region, since only one percent of the reserve would be affected. The first wells in the project are now online, but have faced opposition.

Indigenous tribes have slowed the expansion of the work, and Yasuni Man is a call for the world to give those tribes support. The film highlights the local flora and fauna, and in particular, examines the lives of the an indigenous Waorani community. Killackey commented “I want this to be more than a documentary. I hope the data will be used to draw attention to Yasuni and help advocate for genuine preservation that works for the benefit of indigenous people.”

As the debate rages over oil development in the U.S., people on both sides of the issue may eschew the myopic view that development issues only matter within the boundaries of the United States. A global view of the development may cast the issue of domestic production in a clearer light.

Lincoln Brown for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News