The State Council denied Ecopetrol’s (NYSE:EC) request to cancel the precautionary measure that stopped the development of fracking in Colombia, but clarified that the decision does not prevent the development of pilot projects.
Mining activities in most of Colombia’s regions could be affected soon. More than 92% of the municipalities that develop mining and oil activities in Colombia do not have their Territorial Organization Plan (POT) updated.
The industry keeps working to prove that fracking can be done in a responsible way, despite the ruling from the State Council that put the measure on hold, again.
Industry experts like the Minister of Mines and Energy (MinEnergia), Maria Fernanda Suarez, spoke on the decision of the State Council to maintain the suspension on fracking.
The decision of the State Council to maintain the suspension on fracking generated many reactions in the country. Government leaders and industry experts talked about this decision.
Maybe we should not have been so hopeful. Maybe this was always doomed. It is always easier to say ‘No’ than take a chance on ‘Yes’. No one ever knows the consequences of saying ‘No’, the road not taken.