A Volcano Erupts
Mr.
Correa, president of Ecuador, authorized drilling for oil in Yasuni National
Park in the Amazon Rainforest. This
angered the environmentalists because it was bad for the environment. Also, Mr. Correa was already using the money
for anti-poverty programs. Mr. Correa blamed Chevron for a tar pit, created by
the drilling. A plan was formed to fix
the tar pit. The plan made in 1995
stated that the share of remediation work that Texaco (an American oil retain brand)
was supposed to perform. Mr. Correa
claims that the site has been neglected since 1986. This is relevant to economics because it
reduced the supply in oil while the demand stayed the same, raising the price
of oil. The money used for fixing the
tar pit was taken from the anti-poverty programs.
Question: What would you do in this situation?
"A Volcano Erupts." The Economist 12 Oct. 2013:
48+. Web.
Shawna Coyle and Emily Haeder
9 comments:
To me, it seems like the money that was taken from the anti-poverty programs is still being used to help with poverty. They're going to need people to help fix the tar pit which would create jobs for the people of Ecuador and help with the poverty. You need to have money to pay people and fix things. I would have done the same thing.
I would have taken the money or raised the money in some other way because i think that it's wrong to take from the anti-poverty funds. They are the ones that need it the most.
I would have raised the money needed since it is wrong to take money from the anti-poverty funds
I would have raised the money that was needed by fundraisers instead of using the money from anti-poverty funds.
I understand that oil drilling is very important due to the increasing demand. However, I think it is not justified to take money from the anti-poverty funds to fix their oil mistake and on the other hand the clean up of the mess would create more jobs for the people here.
I would make the Texaco company pay for the damages. I do not believe the money should have been taken out from the antipoverty programs because the programs are needed for supporting the poor of their country.
I would probably call for an impeachment of the Ecuadoran president. He used funds made for improving the country, and used it for drilling of oil that ruins the country.
I would find another way to raise the money. Taking money away from those who already have little to none is just wrong.
I would keep on drilling because oil powers my economy. There is a lot of rainforest
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