Sovereign nonsense

February 12, 2026

TL;DR

The USO countered President Petro's assertion that Ecopetrol would go bankrupt if Brent crude fell below $60 per barrel, citing an estimated breakeven of around $50 and a lifting cost near $12.
The union stated that unconventional oil from fracking can have a lower carbon footprint per barrel and is generally lighter and better compensated than Colombia's heavy crude.
Colombia is increasingly importing natural gas and light crude, which is produced using fracking, to meet domestic demand and supply its refinery.
The USO advocates for evaluating domestic fracking potential through pilots with strict scientific and environmental controls, rather than outright prohibition.
They argue that refusing to assess local resources only increases costs for consumers and the nation, while potentially enriching other countries through imports.

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