Colombia: whether or not to maintain oil exploration, an issue in the presidential campaign

Left-wing Colombian presidential candidate Gustavo Petro of the Historic Pact coalition reacts as centre-right Colombian presidential candidate Federico Gutierrez of the Colombian coalition team of the government, speaks during an election debate in Bogota, Colombia, May 23, 2022. REUTERS - LUISA GONZALEZ

Text by: RFI Follow

1 min

For the first time, it is a left-wing candidate, Gustavo Petro, who could well win the presidential election in Colombia.

The campaign is marked by the opposition of the two main candidates on the economic side, with a central question: should oil exploration be maintained or not?

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The hydrocarbon sector has yet to return to pre-epidemic levels in Colombia, but it is crucial to its economy as it accounts for a third of its export revenue, and a fifth of state resources.

Outgoing President Ivàn Duque has repeatedly called for further acceleration of oil and gas exploitation, and even more so since the outbreak of the conflict in Ukraine.

Sanctions targeting Russia open, he believes, new perspectives to Colombia.

The left-wing candidate,

, does not hear it that way.

He wants to turn the page on fossil fuels, prevent any new oil exploration and ban the extraction of coal, of which the country is also a major producer.

By environmental conviction, and also because he does not want his country to fall into the same "trap" as neighboring Venezuela, at the first reversal of the markets.

While honoring current contracts, he therefore promises to take the path of renewable energies in his country.

This is why the professionals of oil and coal condemn it to public loathing.

They choose to support the rival candidate, the conservative Federico Gutiérrez, who wants to strengthen the extractivist model in order to take advantage of the country's oil reserves, estimated at 1.8 billion barrels.

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• Colombia

• Energies

• Oil

• Economy