Colombia's New President Likely to Face Hurdles in Achieving Ambitious Energy Agenda: Experts

Energy attorney José Vicente Zapata was quoted in an article by S&P Global Commodity Insights about Colombia's new president's energy agenda and the difficulties he may face. Gustavo Petro plans to ban fracking and stop new projects for oil and gas exploration with hopes to transform Colombia's economy from one based on fossil fuels to one focused on clean energy and technology. Mr. Zapata mentioned that investors will be interested in how other segments of society, like the private sector, courts and international institutions, provide a counterbalance to the president. He mentioned that a big mistake would be trying to solve problems by issuing laws and decrees.

"One of my main concerns is that we get a zillion new laws under Petro; that does not address problems, it only creates a legal mess," he said.

READ: Colombia's New President Likely to Face Hurdles in Achieving Ambitious Energy Agenda: Experts