Energy Minister Irene Vélez of Colombia confirmed on Thursday that the South American nation will stop awarding new oil and gas exploration contracts, a decision that she described as “absolutely urgent.”
Vélez made her announcement at the gathering of the World Economic Forum in Davos, during a panel titled “The Different Roads to Energy Transition.” The Colombian minister’s statement follows far-left President Gustavo Petro proposing at the same venue to “decarbonize capitalism” to “prevent the planet’s extinction.”