Carbon credit plan could be an underground treasure chest

Ultimatums, as agreement bargaining chips, tend to create panicked, uninformed, emotional decisions. Those involved get wrapped up in the all-or-nothing solutions and lose focus of the pertinent issues that surround the decision. The Carbon-Credit ultimatum developed by Ecuador to avoid drilling for oil under Yasuni National Park is no different: polarized parties with intensified pressure.

As most Americans know, oil companies govern with their money and power. With access to one of earth’s most precious natural fluids, oil companies have been able to stimulate demand, regulate supply, and manage revenues that have shot through the roof. It is no surprise then that when oil drilling sites dried up, others needed to be discovered for oil companies to be able to manage the same type of control.

When word of Ecuador’s access to untapped oil under Yasuni National Park got out, oil companies wanted in. Instead of folding to mega-billion dollar offers, however, Ecuador came up with a different plan to extract revenue from wealthy, green conscious governments in exchange for credits that would in essence leave the oil underground and offset the emissions of the wealthy countries by buying credits.

Essentially, Ecuador would get paid for other countries inabilities to decrease emissions and oil companies would be kept out of the area.

Currently, environmentalists back the plan while money-hungry gas companies are putting on the pressure and flashing the cash to concede the territory. The question is whether countries, who have recognized a need to offset carbon, will pay the big bucks to keep the drills out of the National Park?

The plan makes complete economical sense for Ecuador, but it seems a little preposterous to ask for money for something a country is not doing, instead of doing. I have never been a fan of carbon credits because the spenders who buy the credits should be investing in new technology, not paper credits, to better their processes.

Additionally, the credits in this situation are relevant only as a futuristic WOULD statement: they offset the carbon that WOULD have been burned up from the oil found under the Park. It will not change people’s oil consumption patterns and I can assure you, oil companies will find other places to drill. That means that governments WOULD not be offsetting carbon emissions. They would just be protecting Ecuador’s National Parks.

All the credits essentially do is acknowledge that there is oil under Yasuni National Park and that the National Park will be protected, as it should already be (as a National Park).

Ecuador is not looking to protect the environment with this plan; they are looking to snag some free money.