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Presidential Candidate Says Colombia Must Bet on Oil and Mining

Andrea Jaramillo
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⚡ Quantum Brief
Colombian presidential candidate Paloma Valencia advocated for expanded oil, gas, and mining investments as key to reducing poverty, framing resource extraction as an economic priority. Her running mate, Juan Daniel Oviedo, explicitly endorsed fracking at an energy event in Cartagena, signaling aggressive plans to boost fossil fuel production. The duo also pushed for copper exploitation, targeting Colombia’s untapped mineral reserves to drive growth amid global demand for industrial metals. Their proposals mark a sharp pivot toward extractive industries, contrasting with global climate commitments and Colombia’s past renewable energy initiatives. The statements, made in March 2026, reflect a campaign strategy prioritizing short-term economic gains over long-term sustainability goals.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Colombian presidential candidate Paloma Valencia said that investments in oil, natural gas and mining can lift its people out of poverty. Valencia’s running mate, Juan Daniel Oviedo, also called for the use of fracking. Speaking alongside Valencia at an energy industry event in Cartagena, Oviedo added that the nation should exploit its copper reserves.

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Source: Bloomberg Technology

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