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Ecuador pulls plug on cash-for-conservation deal

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BOGOTA, Colombia — Ecuador will open a pristine swath of the Amazon to oil drilling after the international community failed to back an ambitious conservation plan to leave the crude untouched, the government said Thursday.

In a nationally televised speech, President Rafael Correa said he was dissolving the Yasuni-ITT Initiative, in which the country planned to leave more than 840 million barrels of oil untouched if other nations would pay $3.6 billion, or half the market price of the crude.

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