Page 4 - LatAmOil Week 45 2022

LatAmOil COMMENTARY LatAmOil

(Photo: Twitter/@petrogustavo)
Colombian leader urges rapid exit

from fossil fuel-driven economy

Speaking at COP27, Petro has issued a call for a planned, public-sector and politically driven transition

to renewable energy, but his prescriptions are not likely to have much short-term impact in Colombia

ONE of the main pillars of Gustavo Petro’s already in progress, but he has also indicated
campaign for the presidency in Colombia was that he wants to wind down the business of
WHAT: a pledge to work towards running the country awarding new contracts.
Colombia’s president has in a more environmentally sustainable fashion And earlier this week, he took his message to
urged a rapid exit from that emphasised renewable energy over fossil a larger audience. At the COP27 international
oil, gas and coal, citing fuels and the knowledge economy over extrac- climate summit in Sharm El-Sheikh, Egypt, he
climate concerns. tive industries. argued that fast action was needed to eliminate
This was not just an overarching principle or fossil fuels from the world’s energy mix, thereby
WHY: a philosophical stance. It also took the form of preventing a global environmental crisis. Since
Petro has repeatedly policy recommendations, such as the repeated the UN-sponsored COP process, which is mar-
made his distaste for
hydrocarbons clear. declaration that Petro would not, if elected, ket-oriented, has not yielded sufficient results,
award any new exploration or production con- governments must step in and impose political
WHAT NEXT: tracts for crude oil, natural gas or coal. solutions in which oil, gas and coal are no longer
The proposals and plans As such, it is no surprise to hear that Petro options, he said on November 7.
mentioned at COP27 are has continued to speak out against fossil fuels “COP no longer gives answers, and time has
unlikely to have much since he won the presidency and then assumed run out,” he declared. “Governments must put
short-term impact within office earlier this year. He has emphasised that politics in charge to create a global plan to dis-
Colombia. his administration will not cancel deals that are connect hydrocarbons immediately.”

P4 www. NEWSBASE .com Week 45 09•November•2022