Ecuador's President Rafael Correa announced last month that development would begin in the eastern edge of the world's most biodiverse area, the Yasuní Biosphere Reserve. Despite his innovative 2007 proposal to leave oil deposits there untouched, insufficient offsetting funds materialized. Poverty applies the greatest pressure to nature, Correa declared.

Correa promised that the latest technologies will be used to minimize direct impacts and to avoid indirect ones altogether. He pointed out that sacrificing the sector, known as the ITT block, will affect “less than 0.1%” of the reserve's area and generate a US$18.2-billion pay-off.

The devastating history of oil extraction in other parts of Ecuador might prompt scepticism about this figure, but it could be realized if offshore methods are faithfully incorporated and no new access roads are built. Everything possible must be done to preserve this unique piece of Amazonia, which contains more than 100,000 species in each hectare of intact forest.

However, contracts between the government and an operator for the development of an oil-concession area can be undermined by rapid advances in technology, so that even the most visionary operations end up using obsolete methods and equipment. Sensitive and biodiverse areas such as Yasuní need to retain new technologies throughout any extraction operation.