The auction highlights the ethical dilemma of poor countries bearing the opportunity costs of protecting forests, peatlands or other ecosystems that benefit the world’s climate
river from Kinshasa, the capital of the Democratic Republic of the Congo, is a boggy, blooming, buzzing ecosystem that is home to elephants, gorillas and bonobo monkeys—as well as swarms of insects, many with a taste for human blood. Underfoot is the world’s biggest area of tropical peatlands, consisting of partially decomposed trees and plants. Undisturbed, it holds the equivalent of three years’ worth of global emissions from fossil fuels, mitigating global warming.
The second issue is whether poor countries should bear the costs and opportunity costs of protecting forests, peatlands or other ecosystems that benefit the world’s climate. Take Congo’s peatlands, which sit under swampy water for most of the year. If these swamps were to be drained permanently, much of the carbon stored in the peatlands would begin to escape.
For the Congolese government, though, the priority is economic development. Congo is among the five poorest countries in the world. “Imagine what oil can do for us,” says Didier Budimbu, the minister of hydrocarbons. He says the sale of it will finance schools, roads and hospitals. And he claims that criticism from rich countries, which prospered using fossil fuels and still rely on them, is hypocritical.
One problem with Mr Budimbu’s case is that, until now, Congo’s vast resource wealth has only benefited the few. The country consistently ranks among the most corrupt in the world. Proceeds from copper, cobalt and diamond exports rarely trickle down to the more than 60m people who survive on less than $1.90 a day. Many of the communities in the new oil exploration blocks have not been informed, let alone consulted, about the government’s auction plans.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
State-run oil giants will make or break the energy transitionIn the oil market the private sector counts for less than you might think. State-run oil behemoths sit on roughly two-thirds of the remaining reserves of discovered oil and gas globally
Read more »
Iran’s Oil Earnings Soar Despite Sanctions | OilPrice.comDespite continued U.S. sanctions, Iran’s oil industry appears to be going from strength to strength due to an incredibly tight oil market and the growing importance of energy security
Read more »
Libya Raises Oil Production To 1.1 Million Bpd | OilPrice.comLibya, plagued by port blockades and protests at oil facilities in recent months, has now managed to raise its oil production to 1.1 million barrels per day
Read more »
Federal Government Launches Extreme Heat WebsiteHeat is a leading weather-related cause of death, and climate change is making it worse.
Read more »
5 Killed, 50 Injured in Anti-U.N. Protests in Congo's EastDemonstrators set fires and forced entry into the U.N. offices in Goma, accusing the forces of not protecting civilians.
Read more »