In June, Colombia elected a new president: Gustavo Petro.
Petro is pushing major reforms in this oil-exporting country. He promised to cut Colombia’s reliance on selling oil and extracting raw materials, while also ramping up climate targets. Will Colombia become the first oil exporter to ban new production?
Petro’s win is part of a broader progressive shift in Latin America around climate and energy. How will recent political developments in Colombia and other Latin American countries affect the future of oil and mining on the continent, and what do these shifts mean for the clean energy transition?
This week, host Bill Loveless sits down with Dr. Mauricio Cárdenas, a visiting senior research scholar at the Center on Global Energy Policy.
As Colombia’s finance minister between 2012 and 2018, Dr. Cárdenas served during an oil shock that led to a 40% reduction in Colombia’s exports.
Mauricio and Bill discussed whether the incoming Colombian president can deliver on his campaign promises. They also explore the state of energy and climate policy across Latin America.
Around the world, activists are turning to the courts to hold major polluters accountable for climate change.
Earlier this month, OPEC+ leaders Saudi Arabia and Russia announced further voluntary production and export cuts, with the former alone accounting for nearly half of the OPEC+ aggregate.
National oil companies (NOCs) produce about half of the world’s oil and own the bulk of oil and gas reserves. They are also large issuers of bonds held by international financial institutions. Their ESG risks should be a matter of great concern.
Achieving the goal of net-zero greenhouse gas emissions by 2050 requires a substantial reduction in the share of high-emitting fossil fuels in primary energy consumption.