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The End of the Oil Industry in Colombia?
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- Опубликовано: 15 авг 2024
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The President of Colombia, Gustavo Petro, came to power in 2022 with great promises of change in practically all political, social and economic sectors of the country.
One of these major changes is, precisely, his energy transition plan, which includes the cessation of any new oil exploration and exploitation contract in Colombian territory. In other words, Colombia may become one of the main oil powers to veto this industry, if not the first of all.
*José Manuel Rodríguez, Álvaro Mijares and Fernando Gutierrez participated in the preparation of this video.
#Oil #Colombia #Economy
Unfortunately this new president appears to think that money is just going to fall from the sky if we have “progressive ideas” as if good intentions was the same thing as good practical ideas that actually create money and jobs.
Globalists are all the same all over the world, their intention is to make it hard for people, make them poor and then control them easily
Plenty of money in cocaine
Finally, a realistic comment.
Well, realistically Colombia’s economy is held by cocaine and marijuana not by oil, even if that’s what they say in the official reports.
@@carlosmanuelp2015 that money does not enter the economy (dirty money) as much and also it's money that evades taxation so it is not useful to build social programs. Saying that average Colombians are not hurt by the war against oil is very wrong. We are being hurt. Our life cost is increasing and we are mostly poor or vulnerable middle class. We cannot afford this drastic transition without any concrete plan to replace that income.
Colombia is such an underrated country. When I went I found the younger generation very inspiring, they really want to change the stigma around their country.
In terms of the economic plan. It's worth keeping in mind it's proximity to the US and Mexico, it has very good demographics, it is a politically stable country and it has access to the Caribbean and Pacific. This means it could be (and is) a very good location for US, Mexican (and European) companies to outsource to.
I do recommend anyone who hasn't been there to go. Truly an amazing country.
Generic tourist nonsense. Go and live there, than tell us how amazing and inspiring country it is.
Yeah, but this kind of videos don't help so much
Politically stable, really or just a joke?
Good to hear that the younger generation is "very inspiring". Too bad that instead of voting for people with realistic policies and ideas, they voted for the dumbest possible candidate that won't doubt in destroying their future.
I'm Colombian and I know why I say this.
Politically stable 😂😂😂😂😂😂😂😂
I live in Colombia, and this plan sounds excellent if it can be performed without any problems. When was the last time ANYTHING happened in Colombia without problems? 🤔
What will they use for energy? Coke???😅
@@bitcoin7321 I hate you. 😂
It can't happen without any problems, anywhere... but that is not a reason to not do it.
This plan is very very ambitious, and brave, and probably not reasonable, but, even if it overshoots its deadlines with 100%, its still a huge achievement.
Is this the right thing to do now? For that I don't know enough about the local situation in Columbia, but does the world need a lot more of this kind of ambition? Absolutely.
@@c128stuff cuba: we don't growth because of the embargo and we need oil now
Colombia: hold my beer autoembargo no more oil
@@Ghoxtfire Sure, but there is one relevant difference.
Cuba has essentially no means whatsoever to make a transition, whereas Columbia could at least in theory use income from its oil exports to afford a transition.
That of course is quite a 'in theory', if that is going to happen is... an open question.
I'm a fan of Colombia (at least of the Colombians that I've met). Hope this a smart play for the country and not just ideologically driven or a result of corruption. I really want Latin America to do well as a whole.
It's a complete ideological driven idea, I am afraid. Do you know what he really wants? He wants Colombia to stop producing oil so it can be imported from Venezuela! Basically he is doing that to help the dictatorship from our neighbor...
I am sorry to tell you that Petro is nothing more than a leftist populist, he has already threatened the senate that does not want to approve his reforms which have Argentinean methods to buy the lower classes with subsidies that "the rich will pay (but they will not pay because they will be paid with debt)". May God have mercy on us for the next 3 years.
thanks bro
One of the main things you guys forgot is that it's not obvious that Colombia can get much more oil, regardless of exploration: there's been dozens of exploration operations already that got nothing. Without taking into account the history of violence in the country, which is highly correlated with the extraction of resources from the country side
In that case there is no need for bureaucracy getting in the way of oil exploration in the first place?
@@ireminmon you are thinking as if the Colombian government would allow free market over exploration without, but that doesn't even happen in the US, so it would be necessary to deal with corruption and violence for that exploration
@@mMaximus56789 so you're saying peace is the yield?
@@ireminmon part of it. Note also how fast the government became addicted to oil revenues, a limited resource. And the counter argument? basically inertia, we don't like change. So Petro slamming on the brakes won't end oil in 10 years, but most people will have moved on to more reliable energy. Also note Petro's timing, as geothermal and fusion energies should be proven valid or non-sense in 10 years.
@@Krieghandt Id like to add onto this point that we already figured out a method of fusion, but its not sustained Fusion and requires a material from a specific Canadian Fission nuclear power plant type thats all getting shut down because of Canadas environmentalist.
The problem is that we don't have anything to replace them with. Yes, green tech looks promising, but those take investments that Colombia doesn't have the money for.
Most of the world is not very windy or sunny. I don't think they can achieve their goal through poverty.
If Norway did it, so can Croatia.
@@cashewnuttel9054 it depends on finances.
@@stevenjohnston7809 I'm sure Norway, Canada (second best country in the world, Norway being the first), Switzerland, Singapore, Australia, New Zealand all started out poor; they all started with nothing. They didn't run to rich nations; they worked, they sacrificed, they dreamed of having their rich nation right under their feet.
So, of these nations can do it, so can Chile.
@Sugar Coated Peanuts do you have any idea how long it took those nations to become rich? It's not just money; it takes research and investment. Sure, they can purchase a few windmills and solar panels; it takes the right geography to make it work. Not that many places are sunny or windy where people actually live. You know what that means? Powerlines, if they're lucky enough to have a windy or sunny area in their country. It takes money to not only build it but you also need to be able to store it when it's collected.
@@stevenjohnston7809 20 years!
If the people of Cameroon don't leave the country, stop stealing, work smart, follow the law, be honest... in 20 years Cameroon will be rich.
How could Colombians vote for this disciple of Maduro!?
Does it seem that we Latin Americans have not yet understood that the path to development is never to the left?
... do you know nothing about the CIA, like, at all? lmao
@@RosscoAW Ah of course, it is the fault of the CIA the Latin American decadence🤣
If you are poor, communism looks attractive (take money from the rich!). Unfortunately, this means the left has an interest in keeping people poor. And so it goes.
Leftists have been stealing election in South America for decades. All those immigrants that have been crossing US border brought that with them to US. Republican will never win single election ever.
@@RosscoAWMy buddy lives in venezuala. We talk constantly, and no it's not the cia you goof.
Good to know Colombia is doing so well and is so rich that they can throw away all this money for climate ideological reasons.
The world is moving away from fossil fuels anyway
@@tauceti8060 in your dreams only
@@kfroe828 it's true. The world is investing more and more into clean energy alternatives.
@@tauceti8060 not in Asia, where they are investing in coal power plants to cheapen their power and have more economic growth. Colombia already has 50% hydro and it should focus on developing its economy instead of following the mandates of the green agenda.
It is a transition, all the developed countries are trying to make an attempt to move forward from that, even saudi arabia has programs to not have a so strong dependence in a NO renovable resource an investing in other fields
Colombia going full steam into chaos, he even says Bukele from el salvador is bad for capturing criminals
its ironic, el salvador is actually safer than colombia now
@@WorshipDaKing Anyone can turn safe a shithole with few people putting into prison every person with a tattoo. I want to see that Ukelele trying to make his thing in countries like Mexico o Colombia.
first president to actually do things right and the media wants to sell that false narrative about chaos, but the people are sick and tired and don't buy it anymore.
I've lived in Colombia for the past 17 years and, frankly, Petro is scaring the living hell out of me.
Petro is the populist version of a European social democrat but applied to a country without the income of Europe, he has already removed the few ministers that were worthwhile and we still have to put up with him for 3 more years.
Same here. Can’t wait until he’s gone.
Yes sure, tell me why? What's the reason you are so scare?
@@mauricioparra7726 Petro was a significant advisor to Cesar Chavez in Venezuela and he has already proposed policies that closely parallel those that were implemented in Venezuela. One in particular is energy as an example. He has already cut off any further exploration for oil and has stated he wants Colombia to convert to an all electric society. This is a poor country, where very few, who do own cars, have a house with a garage or carport, where they can install a charging station so, basically, it means cars will be outlawed. Although the massive number of motorcycles on the streets are terrifying, it means they would be outlawed as well. Did you know, it is cheaper to travel to and from work on a motorcycle than it is to take public transportation, even though public transportation in Colombia is very inexpensive? Petro also wants to nationalize all healthcare, just as in Venezuela. It's wonderful that healthcare in Venezuela is free but, it's very easy to make something free, when you don't have it to provide. Basically, Petro will bring the same socialist nightmare to Colombia that Chavez brought to Venezuela and that is what scares me.
@@mauricioparra7726 I will try to be concise, Petro has already been mayor of Bogota (capital city of Colombia) and his management was mixed because he always fought against the council that imposed a counterweight to his measures. He had good results in issues such as reducing child hunger and with the creation of mobile health units, and bad results especially in security and public transport. His last piece of legislation was to go over his powers and force the garbage collection system to be public, ending the private company that used to do it, his result was pitiful and generated an environmental crisis in the city. After this, he was removed from the mayor's office.
In general his policies as mayor of Bogota began by trying to make consensus with the opposition parties, when they opposed his more radical measures he used to undo the coalition and then impose his legislation even if it violated the law and separation of powers.
People just don’t learn….
Why not just follow Norway's model, just let the oil exploration continue. Any revenue/royalties/tax revenue from it reinvested and the profits from reinvestment can fill the government coffer.
Because corruption. It only works in Norway because they have a well established government that is one of the least corrupt in the world. If it were easy to achieve, they would all do it. Norway is one of the rare few examples of countries that didn't fall into utter chaos from being resource rich.
That's what they're doing, with the caveat that they will only continue to exploit those projects currently in operation, without opening new ones. Norway will inevitably have to do the same thing (and frankly should have done so decades ago). These projects will slowly reach culmination and shutter. A 10-15 year transition period that is *guaranteed and forecast thoroughly ahead of time* is PLENTY of warning for domestic and foreign capital allocators and investors to take advantage of government subsidies, tax credits, re-training efforts, and other economic stimulants that will be utilized to encourage a green/economic transition. 10 years is *plenty of time* to encourage FDI in an expanded tourism industry, especially if the government coalition has enough liberals arguing loudly for liberalization of ownership and investment standards in service-oriented industries. Colombia's proximity/strategic geopolitical relationship to America ensures increasing FDI as long as the government continues to signal it's a safe market for the relevant investments.
They're not interested in reinvesting the profits in more oil, only to have that industry ripped out from under them like a rug in a decade or two when the rest of the world inevitably undergoes the domino chain reaction of everybody everywhere else illegalizing oil exploitation and exploration. They're preempting what is obvious and inevitable, to ensure that they can stay ahead of the curve and take advantage of investors currently willing and able to finance these transitions who are running into the hurdle of not enough places actually making aggressive green transitions to capture said money (cough, cough).
Because the planet is dying.
@@coolbanana165 The planet is warming, not dying. It's really only a problem because we don't want to kill ourselves, otherwise Earth has seen much more extreme changes over its 4.5 billion years.
Corruption. D'oh!
Would have been interesting to hear what their plan is to compensate for this revenue, I mean a tad more realistically than tourism ( in a country known for creating marching powder) or switching to electrification of vehicles, which is a cost not income the last time I checked.Even mature and well regulated countries struggle with infrastructure when it comes to electricity, and most people don’t think commodities like copper, lithium and aluminum are going to fall in price the coming years. How will Colombia finance all this if it looses large parts of its income.
While Colombia is not on paar with Nord America and Europa they actually have a somewhat decent industrial base anyway. It is a market economy, corruption isn't too bad (only bad), it has the US as a close ally and trade partner, something many other countries in South America don't have.
But still it sounds pretty daring.
They have one more VERY profitable export...
One big bullshit. It is all done in the name of this crazy, ideological climate communism. Of course it will only ruin Columbia financially and others as well. It is in fact radical, communist social engineering.
tourism.?.look at srilanka as today due to covid
they dont have a plan
Dinosaur juice is not only used in the energy producing industries... i think they are getting in trouble...
Don't think so for that reason. Petroleum non-energy use (like in pharma, plastics, lubricants) is only a tiny fraction of the vast amounts of dinosaur juice burnt for energy. For instance, the estimated daily world-wide oil energy demand is a staggering ~100-million barrels a day! Could probably make a wide plastic highway across America with a few day's worth of that.
More specifically, just to be clear, Columbia is *not* planning to totally terminate their petroleum industry immediately. The proposal is that no *new* petroleum exploration contracts will be granted. So existing oil fields can still be drilled. At 10:42 in the video, the transition is supposed to take 15 years.
Moreover, the world is waking up to the dangers of plastics too. Such as micro-plastics in our waterways & in the human body and long-lived plastic pollution in the environment. There are two huge *gigantic* floating masses of mostly consumer plastic litter circulating in the Pacific. They are *twice* the size of Texas. Its called the "Great Pacific Garbage Patch" and researchers are finding plastics from the 1970s still fully intact in there!
The world survived without plastics before and could easily find economical alternatives. It will become more clear to see once the global fossil hegemony really starts breaking down and the collective "brain fog" of petroleum eases worldwide. People vastly underestimate the iron grip strangle hold petroleum has on politicians and policy makers. Even today, normal everyday people still fight for petroleum as if it was their mother. They live in The Matrix and know nothing other than a petroleum world and so fight to protect a dying grossly polluting non-sustainable resource. A strange era in history this is.
@@beyondfossil As if mining rare earth for making batteries was any cleaner than oil. A quick research on the environmental damage of rare earth mining would probably give all those stupid communists second thoughts about electric cars.
Como permanecer en el tercer mundo?
1. No hacer lo que hacen los países desarrollados
2. Hacer lo que los países desarrollados te ordenan hacer
Los dientes del conductor de VisualPolitik pertenecen al tercer mundo.
Esta equivocado, hay q hacer lo q HICIERON los paises desarrollados para lograr el desarrollo, NO HACER LO QUE HACEN en la actualidad, por hacer eso, ahora son las naciones que menos crecen, países q estan creciendo grandemente Vietnam, corea del norte, la india,etc; lograron el desarrollo con una política PRO-MERCADO liberal, misma política q tuvieron los paises actuales cuando lograron desarrollarse hace MUCHOS AÑOS atras.
@@alexanderjames4109los paises desarrollados saquearon a otros paises para lograr su desarrollo 👀
Drastic changes like this are normally short-lived, especially true to democratic countries. By the time the president expires his term, the new one will reverse the whole strategies and it will go back to square one again.
I'm pretty sure he is planning to bring Dominion machines for the next elections to secure the next term
Energy is life. This is a lesson they will learn the hard way
Within a year VisualPolitik will be making a video on how Colombia turned into Sri Lanka.
so naive, better wish good things to come.
@@cannabico6621 let's hope, but hope don't keep the lights on
hate to be pessimistic, but I guess that is the most likely outcome
The big question ignored in this video is how are they going in solar/wind etc production? How's the ev market going there?
We have the biggest hydroelectric powet in south america
90% green electricity already my friend. Our Main pollution comes from deforestation of the Amazonian jungle and gas for powering industry, heating, and kitchen stoves. If the world had the same per capita emissions today as Colombia, there would be a 60% reduction of CO2 overnight. In the early 90s, before electricity was privatized, it used to be cheap and nobody was using gas at home, we need to go back to that.
Sounds like the german abolition of nuclear, or Sri lankas abolition of fertilizers.
Great video. I think Petro will have to dial back his ambitions further. The example of Europe shows just how hard and expensive an energy transition is. My expectation is that the world will keep pumping oil for many more decades and focus much more on carbon capture to abate emissions. The demand for energy with a growing population is simply too big.
Colombia has no moral obligation to go full green energy, specially seeing how more than 50% of its power comes from hydro, meanwhile, the transition is going to raise costs in a country with a lot of people economically struggling.
@@giancarlo9731 the economical struggle is due to corruption which is being tackled too, this is the first president that literally wants to develop the entire country not just the oligarch pocket's like the rest of corrupt ex presidents, some of them still hanging around.
I wish all politicians were that brave!
I really hope it works for Colombia and the world.
Brave? According to statistics by the own goverment, the violent groups have increased in their size exponentially since last year. Most people that have a dime are trying to go somewhere else xD
Its great to have someone pushing climate action! We will have to mitigate upcoming issues for sure. But we also need to make the first step to get going. Running more oil power stations will probably also impact the hydro power stations and reservoirs as it does in Brazil, Sri Lanka, US, Albania. So burning oil and gas is not a future at all. Better take bold steps now. Once a country is running (almost) free of oil and gas, it can show other countries how to do it and also point fingers and increase pressure to act.
I understand why Columbia does not want to rely solely on its oil industry for revenue since it could result on a toxic dependency on oil like its neighbor Venezuela, but completely ceasing oil contracts is a bit extreme. I don’t know why it can’t think of other innovative ways of using the extra oil profit to diversify the economy, or put it in a national market fund (Norway). My theory is that Columbia has long been rooted in ideology and corruption which prevents good financial management for the future.
Next time learn how to write a country’s name
I don't think Petro is thinking about the diversification of the economy; he was very clear at Davos, that it is all about solving the "climate crisis", whatever that means. he doesn't care about the Colombian economy, he doesn't care about Colombian's jobs, it's all about climate change...
@@neyson220293 well that’s really unfortunate, as someone you admired the Colombian culture and people, I really hope they don’t quench their opportunity to prosper
It's a mathematical question. If revenue can be replaced (and growth increased), and if energy sources are sufficient, then the plan is fine. If not, it's friggin nuts.
Nothing in Colombia ever goes as planned. This is cool pipe dream
oil&gas companies are leaving the country, investment is decreasing and the economy is going down. As a colombian, I must say that petro is the worst thing that has happened to us.
I have 3 words: Crest Whitening Strips
this guy is killing colombia
Moving away from oil at this time is like bankrupting the country, Columbia needs a new president.
Petro's Google Drive:
Rough terrain ahead, then, at the intersection, take a U-turn.
Would be more prudent to veto cocaine industry first ... just sayin'
It is. The problem is that Americans and Europeans seems to being unable to get their noses out of it. Just sayin...
as if its not already illegal.
Nice! Colombia is a NATO global partner!
As a colombian: Petro's ambitions are fueled by his gigantic ego. He is a great politician and orator, but a poor manager. I think on this one he is bitting more than he can chew.
Colombians pay super high energy prices today! Imagine after this stupid idea is put in place
One big bullshit. It is all done in the name of this crazy, ideological climate communism. Of course it will only ruin Columbia financially and others as well. It is in fact radical, communist social engineering.
Great politician = NY rat size
an economic hell hole with or without oil, bfd.
As always, it depends on execution. It makes perfect sense to move away from an industry which is locked in the past, as opposed to be dependent on one which is risking extinction in a couple of decades, if that means they come out ahead on what comes next… If they don’t transition, then it will crash, and next election everything goes back to square one
nahh, I'm pretty sure there are plans to bring Dominion machines for the next elections and secure the next term.
Oil is use in more things than petrol for your car, to bild sn electric car more yhan 90 % comes from oil, for the battery the sane, and is use for furniture, bags and many other uses
@@lorenaledger6547 that’s just not true. Oil is used for other things, and will be used for a long time for that, but most of the usage is burning it for engines and power. About 2/3 of oil is used to make petrol or diesel alone. Took me less time to find that out than to write this.
Please do your research before making claims
These videos are interesting and informative but could be 1/2 as long. All the music/stock footage transitions seem to just draw out the length and dilute the useful information.
Let's wait and see how things work out in a few years
I am actually hopeful that this works out. But this ideology is only possible if society has advanced to a point that it can afford to stop using using oil. United States for example can decide to go off fossil fuel but politically it can’t. Colombia has many problems and getting rid of oil is the least of their problems but I sure hope am wrong.
It will not work out. Don't you understand that it is all done in the name of a crazy, radical ideology ?! This green socialist/eco-anarchist utopia will ruin Columbia and others. This is exactly what happens when radical left takes over !
There is more than sufficient political support (from the populous) for a green transition, particularly as it implies a massive investment in retraining and education opportunities for currently economically struggling Americans. It would be a massively appreciated stimulus, in that sense. The political infeasibility in America arises from the economic lobbying of oil exploiting corporations themselves, including the auto industry, who have an outsized financial influence over domestic American politicians. The face is, steps like this need to be taken by countries like Colombia to cause a slow domino effect that US regulators and lawmakers can look at and weigh against the donor phone calls they would otherwise have to make to oil lobbyists to fund their campaigns. Capital is the ultimate ruler of America, but individual politicians can and will still be swayed by an unavoidable perception of the death knells of an industry that they are highly economically dependent on. America can only kneecap itself for so long before it has to wake up from its stupor, for all intents and purposes.
After all, the oil lobbyists in America are only as influential as they are profitable, and it's hard to be profitable in 10 years if even a handful of countries have ended their reliance on oil entirely: any non-trivial hit to the profitability of the oil industry and it's attendant industries (whether auto manufacturing or other industries that utilize as oil as a reagent) will massively impact profit margins that are currently reliant on the industries continued permanent growth. It doesn't take much before the currently massive American oil companies are no longer sustainable, and become just massive collections of stranded capital projects that need to be written-down.
Once a wave of oil industry write-offs start en masse, they don't stop.
@@RosscoAW You believe in this utopia. You seem to live in a rainbow, green fairy tale. Time to wake up and grow up !!
@@RosscoAW Our civilization is in the early stages of complete collapse, largely due to demographics. Eliminating cheap energy only accelerates this collapse. Environmental problems are already self-solving due to declining populations.
They can do it if they are brave and believe in themselves.
I am the legal representative for 3J Industrial services. We had a LOI with Ecopetrol and Invictus tools to make work for hundreds and later thousands of Colombians. It would have changed the way they drilled for oil/gas and hydrocarbon storage. When Petro came into office all work and new contract ceased. Now those investors badmouth any type of investment in colombia to their peers and now all of these llaneros have no future for work in such rural places in the Meta area. Also they PEGGED THE PESO TO THEIR COMMODITIES!!! The colombian peso has gone to shit....it was already in trouble before Petro came in.
Someone is not very good at understanding reality😂
Bold plan but definitely something that should be attempted. Is there any way to support Colombia in this?
"Is there any way to support Colombia in this?" Yes. Keep buying our cocaine.
buy legal exports from colombia, support the small guys.
Definitely, despite I'm a little concerned about this transition, whether we accept it or not, oil is going to run out sooner than late.Colombia has around 4-5 million tourists annually, big part of this process is duplicate that number in a 15 years period (10 million tourists), the county has the infrastructure for it, also the country fits a huge high quality offer (Caribbean(Cartagena, Barranquilla, Santa Marta), City-Mountain landscape (Medellin, Armenia, Pereira, Manizales) Cosmopolitan metropolis (Bogota)).If the country perceives around $1000-$5000 per every tourist in that period of time numbers will match, so please visit Colombia, buy national products, I'm 100% you'll love it.
going cold turkey out of oil needle (pipe). That will be harsh withdrawal from Thanks giving party.
I tip my hat to Colombia, congratulations Colombia. The country is doing the right thing.
When talking about oil sector history it was very comfortable for you to not mention almost half of the century, when first UK and next Netherlands and US have taken all of the sector, and kept almost all of the profits to themselves and some corrupt politicians :) When you consider the strong measures they adopted afterwards, it is kind of important to mention it, as it was the most important factor, why they did it ;)
Problema is he has no plan. 😢
as a Colombian i Rember growing up to news of Oil spills everywhere in the country due to the Conflict, and much of our land was unrecoverable due to Oil, so i know our inflation is sky high but doing the right thing is never easy other wise everybody would do it
The commies blow up the oil pipes for the people or some bs like that.
Why can't you just be like Norway or Canada, 2nd greatest country in the world?
Many of these politicians in Colombia believe that tourism would increase and compensate for the loss of revenue.
Avoiding fracking is not the same as prohibiting all oil insdustry exploration.
He had terrible policies as the capital's mayor, which drove the city to an extreme financial deficit, and will do so as well as president. What's worse is his widely known ties to paramilitary groups which actively keep the nation in an ongoing struggle of security, financial instability, and lack of protection for countryside civilians, which is the area where these armed conflicts occur. While perpetual dreaming of a green utopia sounds good at a verbal level, actions will speak louder than words. I truly wish for the conflict to end. As America's only free trade partner in the area, it's demoralizing watching the current administration erase all the hard work that was created in 2003 towards a better, developed nation. The panorama seems to lead towards another Venezuela if his policies aren't challenged. May sanity prevail in the current climate of uncertainty!
As an American, I am very doubtful of any South American government to achieve their goals on time and on budget. I mean I'm skeptical of almost any government doing these things, but that goes double for South American nations.
Don't underestimate the Columbians! They have done several things others thought impossible: They beat down a massive terrorist movement in a generation long fight, they are somewhat effectivly fighting local drug cartels, they have the economy decently going and are even handlung millions of venezulean refuguees without flinching.
Funny fact, by reducing oil consumption they remove one of the biggest revenues from the Venezulan Regime.
It is all done in the name of this crazy, ideological climate communism. Of course it will only ruin Columbia financially and others as well. It is in fact radical, communist social engineering. Hope he will brurn in hell !
@@CrassSpektakel This will not happen its total madness.
As a Colombian, I agree with Shane 100%.
as an American from the Continent of América, i disagree.
The question is, are the people in the country who are not producing oil, actually producing anything of true value to other countries?
Colombia has other things it can produce, extract and export but would that make their products desirable at a reasonable price?
Yes! As soon as we can convince Biden to legalize cocaine 😊
@@javiermontoya3018 I've been to S America, you guys do have delicious fruit, if you could just get it to your ports, I'm sure American would love to buy them and Colombia is one of the few countries with the exceptional geographic option of exporting to both the East and West Coasts of the United States. Perhaps Colombia should invest in port infrastructure on their West Coast in order to be able to split trade both ways, I think it would be a good potential future avenue of trade.
@@ericsaxon5736 many here believe that in America, Europe, and Japan the food market is rigged against fresh produce from abroad. This is not unjustified because some foods are heavily subsidized in those countries to prevent imports, while, for fruits, the import requisites and logistics are very expensive, in particular if you want the items to arrive unspoiled after harvesting them close to their ripe state. The sweetness and real flavor of our fruits is a luxury that our farmers (most of them poor and working on small plots of land) can offer only locally. The economy of scale needed to export has only been developed here for flowers, as an example of a product with short shelf-life because, of course, oil, coal, cocaine, and coffee do not spoil that easily ;-)
@@javiermontoya3018 One of the major issues in any nation state, is that a supply cannot be made available if there is nowhere for it to go.
A small farmer in Colombia will never plant 10 or 100 more fruit trees if the fruit is going to just rot on the ground. And absolutely no one will make an effort to clear 1,000 hectares to grow those fruits if they have no way to export them because there is no road that leads to a port that will ship the product to where it is welcome.
I was born in Poland, which has historically been the breadbasket of Western Europe between 1100 AD and 1600 AD. Our rivers transported grain towards the Baltic Sea to be shipped to Scandinavia, the Netherlands, England, Germany, and France. In return, French wines, Dutch cloth, and English and Scandinavian metals and finished goods made their way back to Poland.
But none of that would be possible without the Port City of Danzig which facilitated these exports and imports of goods. If you want to sell products on the Western Coast of the United States and Canada, there are about 80 million customers waiting for your goods. But until your government invests and builds that port town and a road that connects it, that customer base is lost to you.
The Pacific side of Colombia is ripe for exploitation. Beautiful beaches, resort towns, beach front properties for retiring Americans, these are all options on the table, that currently Mexico and Costa Rica are welcoming. Is Colombia?
And yes, I understand xenophobia, and 'Americans will own our country' but the only way Colombia grows rich and prosperous is if LEGITIMATE American dollars flow in and that can only happen if Americans have a reason to show up, live, party and spend their vacation $$s..
@@ericsaxon5736 I am Colombian and in general I agree with you, but the issue is more complicated than it seems, the pacific coast of Colombia is surrounded by tropical jungle which has always made it the place where groups like the ELN or the FARC have more control than the state, this is sad because I am sure that the army could retake those places without major problem but the fundamental issue is coca. The money that coca gives is abysmal and with it:
1) They bought the people who live there and plant the coca because for them it is much more profitable to plant coca than coffee and I assure you that they will not collaborate with the state.
2) They bought off politicians and certain members of the army who are simply not interested in ending this problem.
3) Supposing that by a miracle the two previous problems were solved, I assure you that the cartels of other countries, foreign governments and NGOs would intervene to avoid this.
Colombia 🇨🇴 have oil capacities for another 30 years.
This is why we have to move fast to do something different
I was hoping the Colombia President cites the reason that oil-rich countries end up relying too much on one resource and end up with an entitled population that know nothing. Mucha suertes Jefe!
What? I didn't think in my life time I would experience so much none sense in this world , first make the solution work 100% then stop oil drilling if necessary .
Is hydropower and geothermal energy viable there? I know that even as far north as Cartagena, there are thermal water and mud volcanoes; in Italy, comunes that have similar geothermal activity, feature turbines or homes heated with geothermal ducting. I know that Medellin has really ample bodies of water not too far, but of course, the damming would flood a lot of native environments.
There are geothermal test drillings in the next couple of years that may make (80%) of land masses geothermal hot spots. the other 20% are fault lines. They accidentally drilled through a fault line and caused an earthquake. Oops. The secret is they have to drill 10-12 km into the mantle. The rest of the technology is ready to go.
Hardly a need. There is enough rain falling on the country to power all of it with hydropower. You are talking about Guatapé, which is a gigantic hydropower dam there.
we basically depend on hydropower
Colombia generates basically all electricity from hydro and geothermal. Wind and solar projects are just now being explored.
90% green electricity already my friend. Our Main pollution comes from deforestation of the Amazonian jungle and gas for powering industry, heating, and kitchen stoves. If the world had the same per capita emissions today as Colombia, there would be a 60% reduction of CO2 overnight. In the early 90s, before electricity was privatized, it used to be cheap and nobody was using gas at home, we need to go back to that.
I am not too familiar with the Colombian case, but from this video it sounds a lot like the German energy disaster: on the one hand shutting down proven and productive energy generation systems on ostensibly environmental grounds, and on the other compensating that with foreign energy supply from questionable suppliers. I hope that if Colombia shuts down its oil sector and realizes it still needs lots of oil, the next step won't be to make a deal with Venezuela.
That president is insane to try and push tourism here in the US tourism is major factor of locals being literally priced out of where they live limits restaurant availability and concentrates job opportunities to a select few companies Vail Colorado, united States is a prime example of this they literally have to import a work force every ski season and residents have walk over to the next block just to visit their nearest real neighbors.
Mark my words, Colombia is about to be in deep economic sh*t 🤎🤎
Less exiting oil, more wanting all the money
He has always been a populist with nice sounding ideas without any real world applications it’s dangerous that someone like him is in power
The oil industry contributed approximately 10% of the income of Colombia's Government in the period 2011-2018 (Fedesarrollo Director Luis Fernando Mejía )
To replace this income and to pay for imported oil or to invest in new energy sources means additional costs, so it's really a bad idea.
This happens when people without preparations reach high positions.
Some people think that the plan is to do the same as in Venezuela, impoverish the country and then stay in power forever.
EXCELLENT!!! Yes, it makes indeed SENSE!!👍🏼👍🏼👍🏼👍🏼👍🏼👍🏼🙌🏼🙌🏼🙌🏼🙌🏼😊😊😊
Viva Colombia! Prioritizing the earth is never a bad bet. Economics are a-typical. Its not necessarily about the dollars, the world is now under existential threat. Colombia will remain poor but happy (and alive) as we say.
He prioritizes the earth so much, that entire jungles are getting burnt in order to produce more cocaine
Colombia mission to contribute to helping with issue of climate change is a good path forward, but it needs to find new resources that will produce long-term effects for the nation.
lol we produce 0,4% of global emissions, destroying a nation for nothing.
Columbia has voted to join Venezuela in the race to the bottom. The biggest question is how fast can they catch up, considering the head start.
Colombia
@@marcelapardo5783 You are correct on the spelling of the South American nation. I was thinking of the spelling in the reference to the US as in "Columbia Gem of the Ocean".
Don't worry, it is catching up quickly.
Have you anytime considered brushing your teeth?
Your teeth match the RUclips gold awards quite well ;) Nice match!
While Brazil has become the 8th largest oil producer in the world and it's exploring new oil fields on the North coast. It is expected to become the 4th oil producer in the world just behind USA, Russia and Saudi Arabia in the next few years.
I really don't understand Central and South America's love of socialism. Think of all the countries down there that have been destroyed by that philosophy. Mined you, my own country of Canada is headed down the same path. What a destructive ideology.
nordic countries though...
@@rizkyadiyanto7922 They are not socialist, their economies are some of the freest economies in the world. Not the case of Socialism in which the government controls everything. Oh, by the way, Petro, the Colombian president, now wants the state to control both the health system and the pension of Colombians.
@@manuelcorrea2365 I dunno the European have 50% income tax and relies on government social programs to survive,Sound like USSR to me.
He is the first leftist president in 60 some years. Since 1946 all presidents have been right wing or ultra-right wing.
@Wealthy and Nerdy I am not too sure about your point. The US did not crush democracy in South America. Yet, these countries tend to lean super left and have communist tendencies even though their countries would be better off if they pursued capitalism.
Host, is that a jurassic park T-shirt?
Always love your flashy shirts too, I have a few like those myself!
Year 2030 video: How Colombia spiraled into extreme poverty and crime.
More how Petro was take out is a Coup d'tetat, after clowning too much.
If no oil....then horses and horse carriages for transportation and shipping. It's a national cost too high for the nation I believe. But the nation's scientists and energy engineers MUST create alternative fuels that can be locally made..
How will you make batteries if you totally dish out oil?
Im from Colombia, that man literally does not think before talking, its an embarrassment.
That was Duque.
@@gabrielestebanmunoz9419 JAJAJAJAJA hasta en los videos en inglés se los encuentra uno tratando de limpiarle el nombre a ese perro 😂😂😂😂
@@Che051 ¿De qué me hablas viejo? como diría la lumbrera que eligieron, a ese sí que no lo limpian por nada. Cuatro años marraneando con el país y le reclaman al que está empezando.
'We have infiltrated ze cabinets' Klaus Schwab - WEF. Dios Mio. I pray for Colombia.
The Colombian peso has lost more than 17% to the USD in the last year.
Many currencies lost value to the US dollar with interest rates rising. Some comments from Petro didn’t help either. The rate got up to more than 5,000 pesos per dollar, but now is back down to around 4,475.
@@joshpurdue2011 "Some comments from Petro didn’t help either" yeah, pretty sure it was due to the disaster with the previous government, Colombian peso was about 2800 per dollar when Duque took over the presidency.
@@gabrielestebanmunoz9419 No argument with that. I was only talking about the last year.
The US keeps abandoning its oil, but then OPEC starts reducing outputs or somebody threatens an oil country and America is back into the oil production game all over again.
IMHO the President is out of his mind! Why even announce a move away from oil when no real solutions have been drawn up to replace the energy deficit and the jobs lost? I'm not even Colombian but if my leader did this of course it would cause fear, panic and worry and rightfully so!
He's been talking about this issue for years because he cares, it's that if you don't start making moves now, in a few years the damage to the Amazon and the ecosystems would be even worse, it's a long term but from now on, it's not like push a button in a couple of years.
I hope this is a total and utter success for Columbia. The actions have matched up with the words and the west should’ve been on this track 20 years ago. Incredible. I’m in awe and I hope they teach other countries, like my own, a lesson. How to quit fossil fuel addiction; quickly, effectively and profitably.
It will fail as he has no plan, there no plan to replace the loss of revenue, theres no plan to fulfill the energy demand, theres no plan for anything just empty words. 🤦♂🤦♂
@@viceralman8450 exactly, he just trying to get a pat on the head for wokeness
@Wealthy and Nerdy He has no plan, just cut production and hope for the best.
It will be a complete and utter financial DISASTER for the country of Colombia!
This development is complete news to me, but I'm going to suggest this is not as crazy as it sounds. Petro (interesting name, no?) isn't proposing to stop exporting oil any time soon. He just doesn't want to invest more resources in exploring for oil, which would not pay off until much later, at which time, he thinks. demand will be falling, along with prices and revenue. For the near future, better to focus on producing and selling oil as profitably as possible. Farther on, base the economy on other things.
Colombia doesn't have the level of development to afford such an expensive energy transition. They should focus on deregulation to make the country a more attractive investment for industry. Right now the bureaucracy is a nightmare that makes California look comparatively libertarian. In a country where many citizens don't know where the next meal is coming from replacing lost income, even if possible, is insufficient. Colombia needs growth and for that it needs to be able to exploit its natural resources.
The idea of moving to clean energy is a nice one, and I am glad to see some progress there. But given that most greenhouse gas emissions (from the energy sector at least) come from China, not Colombia, I'm not sure this part would make much difference. And swapping to tourism, as suggested in the video, is going to require a serious overhaul of Colombia's international image. When I think of the idea of taking a vacation, Colombia is not where I think of. Frankly, I'd be afraid of wandering into someone's cocaine fields and getting myself shot. I am well aware most people in the country have nothing to do with crime or violence, but that is a part of the country's image. I mean no disrespect, these are just my thoughts.
People always like to say “but china!” When it comes to climate change, but the fact is you cant control what china or any other countries do. Your own country is the only thing you can maybe change (if u live in democracy and vote). If enough countries decide to change, china will eventually be pressured into changing themselves. Make no mistake, their culture mimics the western world in many ways, despite how much people like to highlight our differences
Colombia has improved alot. Yes there are still dangerous areas with cartels and rebel groups but if you go to the main cities it's pretty safe. I went to cartagena back in 2018 and had a good time. People were friendly and chill. Honestly mexico is worst at the moment than colombia
I was there for a month and would go back in a heartbeat. Truly the nicest holiday I have ever been, it literally has everything, tropical weather, beautiful mountains, amazing culture, fantastic food.
The attitude of the people alone is a great reason to go. Especially the younger generation, they want to change the stigma associated with their country. It's really inspiring.
Sounds like things have been changing for the better then. I am glad to hear it. Thanks for clearing that up, folks. 😀
You should think of Colombia for a vacation. It’s an extremely beautiful place and the people are extremely nice. They already have a good tourism industry now. There are very remote places in Colombia that still have violence, but that’s not in the majority of the country or in the major cities.
Norway, a wealthy, small population coubtry has been exploiting oil for years. About 73% of its exports are still from crude oil (so much for the environmental Scandinavian image). In contrast, Colombia, which is not nearly as wealthy, has 10 times the population, less developed economy and infrastructure, needs oil to make the transition into a greener economy.
Investing now in alternatives is fabulous and can be profitable over a 10-15 year period! May Colombia succeed!
He's sincerity to fight the climate change is really amazing and noble but it's going to be a huge sacrifice for his people. 10 years or even 20 years is not enough transition to replace Columbian oil revenue and energy oil dependency
the only thing governments supported until now was oil, petro support industrialization of the country, to compensate that revenue from raw hydrocarbons, instead he wants to fortify the pharmaceutical/chemical industry to assess the need for medicines, fertilizer among other things, the old regime never wanted the country to be strong,, they wante it weak so that they could ravage it's resources, but the people id the right choice this time.
I am moving to Colombia in three to four years. I love this country and am glad to see such a forward- looking president. Colombia's economy has been based on the extraction of natural recourses forever and what has it gotten out of it? The economy needs diversification. Sure, there may be some growing pains, but I believe this will be a great positive in the long run. I support President Petro.
The government of Colombia depends on the taxes and dividends derived from the oil companies such as Ecopetrol. How will they replace those funds?
Colombia has to subsidize food so that the 40% of the population living at or below the poverty level don't starve. Revenues from oil are a big part of feeding the poor. LaLa politics will hurt the poor the most.
well, not as if tourism was a 'green' industry... not too many tourists can make it to Columbia without taking a plane.
There are at least 4 oil refineries in Colombia. What happens when Colombia decides to stop oil production?
These refineries will close down, and all those local pharmaceuticals, plastics, lubricants, etc, will have to be imported.
This means no more foreign currencies from selling oil.
Instead, foreign currencies will be depleted as Colombia imports what it originally made.
Also, how many Colombians can afford to buy an EV car to replace their ICE cars?
How will they be able to afford the imported petrol/diesel to run their cars?
Of course, Colombia should diversify away from petroleum as one of its main exports.
Relying on one main export product is a recipe for disaster - just look at Venezuela.
Really, Colombia should keep drilling and put the profit made from oil sales into a sovereign wealth fund. So that, when the oil does come to an end, it won't be a financial shock to the system.
I live in guyana I wish I was living in Columbia. I won't feel guilty for destroying mother earth. No matter what.
Who needs oil if you have coke?
the music just makes me wanna play tropico 6
They may be able to generate extra electricity to sell to neighbors, but there is no way that trucks are not using diesel in Colombia and I have my doubts about cars for common folks since the buy in price for BEV's is so high. This is complex, but the cost of storage (batteries) for utilities is prohibitively expensive and will be an additional drag on their economy.
Informative and entertaining. Bravo.
The title should be changed, you talked about oil industry history for the most part.
Thats not a problem, its the solution. Finally a politician with nuts.
lol the solution destroying the economy, then turn the country in to an abandoned wasteland just like Venezuela. "solution".
I just hope you're right
is anyone aware of the amount of Coal required to create solar panels?...