One of the key questions underlying the debate about the oil and gas industry in Colombia concerns when demand will peak and so for how long can public finances count on the flow of exports and tax revenues. Gustavo Petro’s “Illuminati” believe we all should stop using fossil fuels today and stop producing the stuff. More pragmatic observers think it too soon to (as some headlines put it) kill the goose that lays the golden eggs. Recently the International Energy Agency (IEA) weighed in with its view, based on various climate change scenarios.
Many of the world’s largest countries are backtracking, or slowing down, on some of their plans to move away from fossil fuels. The Colombian government thinks differently.