Crude oil and gas: What are the candidates saying?

TL;DR

Presidential candidates are making ambitious promises for tax cuts, security, infrastructure, and healthcare without specifying funding.
Reducing public spending is deemed impractical due to existing commitments like debt servicing and pensions.
The oil and gas sector is a significant, yet undiscussed, contributor to Colombia's economy, providing substantial revenue and employment.
In 2024, oil and gas contributed $34 billion to the Nation and $8 billion to shareholders, with exports historically representing 20-30% of the total.
Regas have also been a major source of income for oil-producing municipalities.
A potential policy of paralyzing oil exploration, favored by the left-leaning candidate, could lead to decreased reserves, production, and export revenue, potentially making Colombia an oil importer.
Imported oil and gas do not generate royalties, threatening regional income.
Some center-right candidates have timidly suggested reactivating the oil industry without detailed plans.
The article calls for candidates to declare their policies on oil and gas exploration, fracking, and the future of entities like the National Hydrocarbons Agency, Ecopetrol, and the Ministry of Mines and Energy.
Colombia's past experience as an oil importer between 1975 and 1986 led to a national crisis, a situation that should not be repeated.

Continuar leyendo el artículo original