Dozens of international groups…are objecting to a new law that weakens environmental protections…The law, aimed at increasing investment, strips Peru's…environment ministry of jurisdiction over air, soil and water quality standards…the new law also further streamlines environmental reviews for new projects, and… lowers…the maximum fines for all but the most serious of environmental violations…it re-establishes tax breaks for…mining multinationals…Activists predict the weakened protections will spark more clashes between police…and highlanders angered by contamination and diminished water supplies …Government officials argue that easing environmental regulations will spur investment…Environmentalists say it's not overregulation…but rather lower global commodity prices that are hurting the economy…More than 100 environmental and other non-governmental groups … complained in a letter…saying the law would reward polluters and spur the expansion of eco-hostile industries…Indigenous leaders in the Amazon say their communities will be among the biggest losers under the new law…[Refers to: Minera Yanacocha (joint venture Newmont & Compañía de Minas Buenaventura), Pluspetrol]