The greens have scored a major point with regard to the Camisea natural gas project, to be sited in the pristine forests of Peru. Environmental objections have led the us Export-Import Bank to reject us $213.6 million in loan guarantees for the venture.
Conservationists have long contended that the gas project would threaten the Amazon tribes, the biologically diverse rainforest along the pipeline route and the marine reserve at Paracas. The authorities are keen to execute the project because it is said to have the potential to transform Peru from an importer of fuel to its exporter. Camisea has an estimated 9 trillion cubic feet of natural gas reserves and 500 million barrels of condensates.
It is noteworthy that Hunt Oil and Halliburton, the two Texas energy companies involved in the project, are said to be close to the George Bush administration. Commenting on the bank's decision, Jon Sohn, a Friends of the Earth activist, rejoiced: "With the exception of drilling in the Arctic refuge, this is the only resounding defeat for any component of the Bush energy plan that the environmental community has pulled off."
We are a voice to you; you have been a support to us. Together we build journalism that is independent, credible and fearless. You can further help us by making a donation. This will mean a lot for our ability to bring you news, perspectives and analysis from the ground so that we can make change together.
Comments are moderated and will be published only after the site moderator’s approval. Please use a genuine email ID and provide your name. Selected comments may also be used in the ‘Letters’ section of the Down To Earth print edition.