OPINION
August 7, 2010
What is a barrel of oil worth? Generally, the answer depends on a number of factors, including the mood of the commodities markets, the grade of the oil and demand at the gas pump. The basic assumption, however, is that the oil has a value because it eventually will be available for use. But in a historic move, Ecuador is asking the world to put a dollar figure on oil that will not be used — oil it intends to protect from excavation. On Tuesday, Ecuador and the United Nations Development Programme began soliciting donations for a trust fund that would remunerate the country if it forgoes drilling in a pristine portion of its Amazon rain forest for 10 years.