Ad portas of the change of government, the Colombian Petroleum Association (ACP) presented a report on the contributions that the sector could make to the country in the next four years, and even in this decade.
The union warns that, if a leftist government arrives that seeks to weaken the oil industry, the country would be forced to start importing gas from 2026 and oil from 2028; which would affect the pockets of final consumers since prices could triple.
“The logical thing is that the country does what is in its power to continue being self-sufficient, if it weakens the sector after a few years, what it would do is hit the poorest especially because would be less tax revenue for the Nation and to finance social programsas well as fewer resources in royalties, we will end up paying more expensive gas, gasoline and energy,” said the union’s president, Francisco Lloreda.
Likewise, he stated that the Nation would have revenue losses close to $13 billion in the next four years in terms of royalties that would affect social programs and put some 40,000 jobs at risk.
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He added that “this is a crucial moment for the country, after the pandemic and the resurgence of poverty that it has caused, there are many challenges in social matters, and this sector can be a great ally in the fight against povertysince the resources it generates would support the financing of the main development programs of the next government, and would allow leveraging energy and productive diversification, while we take advantage of the oil and gas resources that Colombia has in this unique window of opportunity for the country. ”.
On the other hand, the union estimates that in a support scenario (Future A), the sector would generate income for the Nation of $105 billion in the next four years and $227 billion until 2032, contributing to the financing of social development programs, economic reactivation, productive and energy diversification and the fiscal balance of the country.
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In addition, would contribute $38 billion in royalties during the next government, and $80 billion until 2032, which, with the coordination of optimal public policies, would contribute to improving the quality of life of the country’s regions, especially those with the greatest unsatisfied basic needs (benefited with royalties) and the producers.
