President Gustavo Petro defended Colombia's transition to clean energies, stating that oil exploration contracts from the last decade have not found large amounts of oil. He insisted on lowering the real interest rate to boost the economy. He highlighted advances like investments in solar substations and potential exports.
In a post on his X account, President Gustavo Petro stated that 'no se ha encontrado gran cantidad de petróleo con los contratos de la última década'. He criticized fracking for its heavy water use, calling water Colombia's 'gran riqueza nacional', and noted declining international coal demand since 2015, when hydrocarbon exports began falling. Despite warnings of January's oil production drop—3% year-on-year to 746,400 barrels daily—increased external purchases of gas and gasoline, and alerts from the Contraloría and Campetrol, Petro highlighted successes in the energy transition. He said the energy matrix is 'casi 100% limpia' and must hold during droughts. Ecopetrol should invest decisively in AI networks, including Santa Marta's mega data center, powerful fiber optics, and expanded clean energy generation. ISA renewed Atlantic coast substations with over US$1.000 million for large-scale solar, enabling exports to Panama and Venezuela. Energy tariffs have fallen, nearing a similar model for drinking water. Petro warned that pressures on ISA, Internexa, and Ecopetrol aim to revert to the 'old fossil model', a 'disaster' for water and national sustainability. He again urged lowering the real interest rate through the Banco de la República to speed production and improve fiscal balance.
