Chinese Firm To Explore Oil In Costa Rica

Source: News India

Costa Rica's minister for environment and energy has said that state-owned China National Oil & Gas Exploration and Development Corp plans to explore oil in the country's territorial waters, EFE news agency reported Friday.

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Dobles pointed out that 'government's policy would not put the country's energy at risk.' He pointed out that unless Costa Rica discovers oil at home, it will be forced to import heavy crude from Venezuela, which is expensive to refine and generates more pollution than lighter grades of oil.

In 2002, then-president Abel Pacheco declared a 'moratorium on all petroleum exploration and production', saying that Costa Rica would become an 'environmental leader and not a petroleum or mining enclave'.

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The moratorium prompted the US-based Harken Energy Corp to file suit against the Costa Rican government over a 1998 contract that allowed it to explore for oil in the Caribbean, an agreement that was revoked by Pacheco in 2005.

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In November, following the first reports that China might be interested in searching for crude oil in the Central American nation, environmental groups have been protesting against such projects.

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Read more: http://newspostindia.com/report-31904

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This is hugely controversial here. Most people oppose oil exploration and explotation but the government wants to move ahead with it.

In fact, the moratorium is probably the only popular and worthwhile decision that former President Pacheco took while in office.

... a snowball's chance in hell to live in peace as long as they have the U.S. to their north. :(

I was visiting Costa Rica when they were doing the voting recently on whether to prostitute its markets or not. :( It was almost 50-50 if not for the U.S.-funded campaign for a yes.

to the south. As a result of his arrogant bellicose stance, communist China is there helping them drill for oil. Bush could have sold them technology and American support, but he is too stupid and short sighted.