Colombia Moves to Reverse Fracking Ban, Eyes $4 Billion in New Oil Investment

A regime change in Colombia’s federal government is poised to usher in an oil and gas renaissance in the South American nation. After a four-year ban on oil and gas exploration under the previous leftist president Gustavo Petro, a new right-wing administration is eager to open the country’s oil and gas reserves up to foreign investors. But while mining and oil companies are ready to pour billions of dollars into the sector, Colombia’s political systems might not actually be ready for the flood. It’s anticipated that fossil…