Ecuadorians vote to halt oil drilling in the Amazon despite billions in losses

In a historic referendum, Ecuadorians voted on Monday to ban oil drilling in a reserve in the Amazon rainforest, despite warnings by officials and mining groups that it could cost the country billions in losses. 

With 98% of the votes tallied, 59% of voters rejected any kind of oil development in the Yasuni National Park, one of the most diverse biospheres in the world that spans over one million hectares (2.5 million acres) at the intersection of the Amazon, the Andes, and the Equator. 

Yasuni National Park was designated as a world biosphere reserve by UNESCO in 1989. It is home to thousands of species of trees and hundreds of animals, as well as three of the world’s last uncontacted indigenous populations—the Tagaeri, Taromenane, and Dugakaeri. 

Drilling in the Yasuni Park began in 2016, after the national oil company, Petroecuador, received permission to exploit 300 hectares—0.01% of the National Park—of which the company only claims to use 80 for its operations.

The environmental collective Yasunidos has been pushing to ban oil drilling in the area for almost a decade, claiming that drilling has been causing environmental harm to the protected area. In May of this year, the country’s highest court authorized the referendum to decide its fate. 

“Today we made history,” said Yasunidos, adding that the vote was a “historic victory for Ecuador and the planet.”

Block 43, as the oil block in the National Park is referred to, contributes about 12% of the 466,00 barrels of oil that the South American country produces every day. The government of President Guillermo Lasso estimates that the country could lose over $16 billion over the next 20 years if the drilling is halted. 

According to the Ecuadorian central bank’s predictions, the oil drilling ban will lead to a 1.9% reduction in the projected economic growth for the South American country between this year and 2026.  

“It could cause huge damage to the country,” energy minister Fernando Santos told a local radio station in June. 

Petroecuador said in a statement that it would carry out any action necessary to comply with the voters’ decision.