How Wealthy Corporations Use Investment Agreements to Extract Millions From Developing Countries

By Nicholas Kusnetz, Katie Surma

QUITO, Ecuador—When Rafael Correa entered Ecuador’s presidency in 2007, the nation faced an opportunity and a challenge. Ecuador’s economy depended on oil, and global crude prices were near a record high. Much of the oil was extracted by foreign companies, however, so as prices surged more wealth began flowing overseas.