Ecuador's president abandons no-drilling plan

Gonzalo Solano in the San Francisco Chronicle via AP: President Rafael Correa said Thursday that he has abandoned a unique and ambitious plan to persuade rich countries to pay Ecuador not to drill for oil in a pristine Amazon rainforest preserve.

Environmentalist had hailed the initiative when Correa first proposed it in 2007, saying he was setting a precedent in the fight against global warming by lowering the high cost to poor countries of preserving the environment.

"The world has failed us," Correa said in a nationally televised speech. He said the global recession was in part responsible but chiefly blamed "the great hypocrisy" of nations who emit most of the world's greenhouse gases.

"It was not charity that we sought from the international community, but co-responsibility in the face of climate change."

Correa had sought $3.6 billion in contributions to maintain a moratorium on drilling in the remote Yasuni National Park, which was declared a biosphere reserve by the United Nations in 1989 and is home to two Indian tribes living in voluntary isolation.

But he said Thursday evening that Ecuador had raised just $13 million in actual donations in pledges and that he had an obligation to his people, particularly the poor, to move ahead with drilling. The U.N. and private donors had put up the cash…