Investors are growing increasingly wary of Colombia’s struggling oil industry. A lack of discoveries has pushed the country to look to fracking, though the move has been met with major opposition. The latest election results will likely be the end of fracking in Colombia. A lack of major oil discoveries and meager proven reserves of 2 billion barrels saw Colombia look to hydraulic fracturing as a means of securing the future of its economically crucial hydrocarbon sector. While it is believed that the Andean country possesses considerable unconventional oil potential fracking is attracting considerable opposition from a wide cross-section of Colombian society. That opposition along with considerable uncertainty as to whether the national government can effectively regulate the controversial technique saw Colombia’s highest administrative tribunal the State Council place a moratorium on fracking in 2018. This decision was made on a precautionary basis with the judicial body finding that […]