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TMFMmbop (39.18)

US Taxpayers Save Indonesian Forests

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June 30, 2009 – Comments (6)

US to Forgive Indonesian Debt in Exchange for Conservation Plan

JAKARTA, Indonesia -- The United States will sign an agreement Tuesday to forgive nearly $30 million in Indonesian debt in return for the large Southeast Asian country agreeing to protect forests on Sumatra Island, which is home to endangered tigers, elephants, rhinos and orangutan.

Look, I'm sure this is a noble cause and that $30mm is just a drop in the bucket at this point, but shouldn't we be watching our pennies?

6 Comments – Post Your Own

#1) On June 30, 2009 at 1:40 PM, caltex1nomad (< 20) wrote:

That's a small price to pay considering the BIOPHARM potential of the place. Could be worth billions. I just wonder what kind of guarantee the U.S. received that the Island will be left alone?

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#2) On June 30, 2009 at 2:29 PM, TMFMmbop (39.18) wrote:

Probably the same guarantee we got from North Korea that they would end their nuclear program. Money well spent!!

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#3) On June 30, 2009 at 2:43 PM, Starfirenv (< 20) wrote:

Methinks this agreement is about more than protecting forests. We (as a country) have a long history of 'buying' our 'friends' around the world and Foreign Aid' always comes with perks as there is always an agenda, but calling this an agreement for a promise has a nicer ring to it. Could be good news for Freeport.

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#4) On June 30, 2009 at 2:53 PM, hondo928 (99.48) wrote:

Could be bad news for Freeport who already faces a lot of uncertainty in the country.  If they are protecting the forests FCX can't mine.  Not that I would say that's a bad thing, but I do think it is rather BS becuase I doubt the gov't over there is capable of actually enforcing any poicies mainly those stopping poachers.

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#5) On June 30, 2009 at 3:41 PM, Starfirenv (< 20) wrote:

Hondo-    How do you figure that .  I don't see how protecting forests on the island of Sumatra could impact mining on the island of New Guinea. I would bet we (USA) got more than this 'promise'  for $30 Million. Like I said, could be good for Freeport.

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#6) On June 30, 2009 at 4:08 PM, FoolishChemist (97.21) wrote:

I'd rather save some forest than build another bomb.

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