Arrow Exploration Corp V.AXL

Oil business as usual

[EagleHasLanded]

The energy transition is one of the priorities for the government of President Gustavo Petro. The goal, it is assumed, is to reach it in about 15 years.
 

In his first interview as president-elect, Gustavo Petro assured Cambio that his government will focus on achieving an energy transition towards renewable energies (such as wind, solar and hydraulic) to stop depending on extractivist energies (such as oil, gas and coal), which do so much damage to the environment. Petro pointed out that, despite the fact that this transit will be gradual, during his government no new exploration licenses will be granted.

A transition to 15 years

"We propose a gradual transition that will allow us, more or less in 15 years, to reverse the matrix of primary energies, in which fossil fuels predominate, so that clean energies predominate," said lvaro Pardo, an economist and mining expert. , who will be part of the splicing team in the mining and energy sector. 

Pardo believes that this transition will have to be considered taking into account an irreversible fact, and that is that economies based on extractivism tend to disappear. “Eight years ago we had reservations for 13 years. Today we only have reservations for less than eight years. If we look, for example, at investment figures in exploration or wells drilled in exploration, we will see that investment and the number of wells have plummeted in recent years.” 

https://cambiocolombia.com/articulo/pais/del-petroleo-las-energias-limpias