IAHL Corporation (IAHL)

[Gators12]

While there is still potential to develop Colombia's licensed hydrocarbon regions, many are doubtful that this will be enough to allow the country to maintain its energy independence. President Petro decided to ban new oil and gas licenses in favour of a green transition, however, energy experts believe this may eventually make Colombia reliant on imports of the fossil fuels, as production decreases dramatically over the next decade. To ensure the country's energy security it seems that Petro must either allow new licensing to go ahead or rapidly develop the country's renewable energy sector to fill the anticipated demand gap within the next decade.