The desperation to expand Colombia’s proven oil reserves was reaching fever pitch with no major hydrocarbon discoveries for over a decade.Īnti-petroleum industry protests are frequent in Colombia, although they typically receive little coverage outside of the strife-torn South American nation. The pressure to rapidly approve petroleum exploration and development projects was rising because of Colombia’s meagre proven reserves, which at the end of 2021 stood at a mere 2 billion barrels that can only sustain production for another eight years. There are many reasons for this, but the main one is the pressing need for Colombia to significantly boost proven oil reserves and production so that Bogota could reap the tremendous financial rewards offered by petroleum extraction. This includes the right of communities affected by new oil projects to prior consultation and ability to veto certain developments. The underlying element driving community opposition to the petroleum industry is the long history of the national government in Bogota along with industry participants excluding them from the decision-making process for approving new petroleum projects. Related: Barclays Slashes Brent Oil Price Forecast To $92 There are also allegations of collusion between energy companies, elements of Colombia’s defense forces and paramilitary groups to suppress organized labor, environmental defenders and other industry opponents. Long running community opposition to industry operations in many areas where there are petroleum operations has sparked demonstrations, road blockades and oilfield invasions. The petroleum industry became an invaluable source of income for those illegal armed groups as they engaged in campaigns of kidnapping and extortion against industry participants. The hydrocarbon sector has long been seen by leftist guerillas, notably the now demobilized Revolutionary Armed Forces of Colombia (FARC – Spanish initials) and the National Liberation Army (ELN – Spanish initials) as a legitimate target in their struggle against the Colombian state. They are the result of rising tensions, due to broken promises and environmental incidents, in communities where Colombia’s oil industry operates, notably the vast savannah that forms part of the eastern Andean foothills and Amazon Basin.įor decades, Colombia’s economically crucial oil industry has been dogged by violence and is responsible for considerable environmental damage in many of the country’s ecologically sensitive regions. Those demonstrations, which impact industry operations and production volumes, receive little if any coverage outside of Colombia. This is occurring at a difficult time for the economically crucial industry which is still struggling to recover from the pandemic and is being rocked by frequent violent protests. He has made no secret of his commitment to ending Colombia’s reliance on crude oil by ceasing to award new hydrocarbon exploration contracts. This could then get us closer to a match between these two, something that has enough build for Royal Rumble or WrestleMania.Colombia’s petroleum industry, after decades of rapid growth which saw it become a key driver of the Andean country’s economic miracle, is facing serious headwinds since former guerilla Gustavo Petro became the unitary republic’s first leftwing president. It’s quite possible KO shows up in Y2J’s match or vice verse, and creates some chaos, potentially leading to the finish of a bout. Jericho has his own match with Seth Rollins, which will take place earlier on the PPV. In the background of this match, Owens and Chris Jericho have seen their friendship disintegrate into just about nothing. It should be noted that the former Shield man’s United States Championship won’t be defended and hasn’t really been mentioned on programming since he retained it in October. In the main event of WWE Roadblock, Kevin Owens will defend the Universal Championship against Roman Reigns. It leads to the Road to WrestleMania, which could have some hints for it seen on December 18. The next show will be the Royal Rumble PPV, arguably the company’s second biggest event of the year. This is Raw’s final exclusive show of the year, and also WWE’s last live special for 2016. On Sunday night, the WWE Roadblock pay-per-view will take place from the PPG Paints Arena in Pittsburgh, PA. Follow along with our live coverage of the WWE Roadblock pay-per-view.
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