In 2007, Ecuadorian President Rafael Correa pitched what seemed a compelling idea: if the international community would donate US$3.6 billion to an independently managed trust fund charged with protecting 200,000 hectares (490,000 acres) of Amazon rainforest within Yasuní National Park, Ecuador would drop its plans to drill for oil there. Some environmentalists cheered; numerous countries in Europe, Latin America, Asia and the Middle East promised donations; and the United Nations Development Program agreed to administer the fund. But on Aug. 15, having received only $13 million—or less than 1% of the expected money—in contributions, President Correa withdrew the offer. “The world has failed us,” Correa said in a televised speech in which he announced plans to begin drilling. “With profound sadness, but... [Log in to read more]