| By Andrea Jaramillo While some leaders of fossil-fuel-producing nations have claimed they’re taking action on climate change, few have made a move as bold as Colombian President Gustavo Petro. Since 2022 he’s refused to sign new drilling contracts, saying fighting global warming is a “matter of life and death.” The hard-line approach is part of his plan to transform Colombia’s economy and quit its dependence on hydrocarbons. It’s made Petro the key figure of the Fossil Fuel Non-Proliferation Treaty, endorsed by a small group of nations including Colombia. “The world is starting to realize that if you want to say that you’re a climate leader then you need to actually act on fossil-fuel production,” says Alex Rafalowicz, director of the treaty. Walking away from oil, Colombia’s main export, requires a titanic shift in the economy, and the country is starting to see consequences for both energy markets and, subsequently, the climate from its ban on new licenses. Colombia is facing a natural gas shortage and so it’s now forced to increasingly turn to liquified natural gas imports.  A tanker docks at the liquified natural gas terminal near Cartagena Photographer: Carlos Parra Rios/Bloomberg Liquefying gas, a process that requires cooling it to -260F (-162C), and shipping it thousands of kilometers to the Andean nation, has a higher carbon footprint than producing the gas domestically. Critics say this runs contrary to Petro’s climate change fighting credentials. To be sure, Colombia’s gas reserves had already been dropping before Petro came into power in 2022. But instead of pushing to find new sources, he not only blocked new licenses to explore for wells but also stopped two pilots to extract gas using hydraulic fracturing. This could have helped bring new sources of gas online fast enough to avoid a shortfall. Energy Minister Andres Camacho insists Colombia needs to overcome its dependence on fossil fuels and downplays the need for imports. Yet with the country relying on gas to run its thermal plants and factories, and to provide a majority of homeowners with fuel for cooking, there’s growing concern on the impact expensive imports will have on Colombia’s already beleaguered economy. An industry group, known as Naturgas, estimates that households may see their gas utility bills increase by around 20%. There is now growing concern that Colombia has become a cautionary tale for pushing green initiatives too fast and too soon. An energy transition requires time to carry out investments and make structural changes, according to Alejandro Lucio, who heads Bogota-based energy consultancy Óptima Consultores. “It’s called a transition because it takes time,” he said. “If you force it, it will have unintended consequences.” Read the full story on Bloomberg.com. | 
