Green royalties: Keeping offshore Amazon free of oil
While the world urgently hopes to reduce GHG emissions from fossil fuels and deforestation, the Brazilian Amazon offshore potentially becomes a new frontier for oil companies. The expected impact of oil royalties on the regional GDP is a political driving force pro-exploration. We advocate that the...
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| Main Authors: | , , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2025-04-01
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| Series: | Perspectives in Ecology and Conservation |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2530064425000124 |
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| Summary: | While the world urgently hopes to reduce GHG emissions from fossil fuels and deforestation, the Brazilian Amazon offshore potentially becomes a new frontier for oil companies. The expected impact of oil royalties on the regional GDP is a political driving force pro-exploration. We advocate that the Brazilian Amazon offshore must remain oil exploration-free and that the country could give up its sovereign right to explore oil locally while replacing oil royalties with ''green royalties''. Therefore, we propose that the region could benefit from creating a trust fund covering the same amount of royalties that the area would receive from the country's decision not to allow oil exploration in the region. |
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| ISSN: | 2530-0644 |