Article by Luis Enrique Cuervo
This Article considers problems that are substantially affecting foreign investment in Colombia. More specifically, the Article discusses whether Colombia should be considered as an investment option, from an oil and gas perspective. Noting that the risk of danger has always been a major deterrent for foreign business ventures, the Article reminds foreign investors that, since its earliest days, the oil industry has operated in politically unstable zones. The Article then discusses Colombia's oil and gas policies to attempt to assist foreign investors in overcoming exceedingly negative perceptions of doing business in Colombia.
Ultimately, the Article considers the question: is it too risky to do business in Colombia? The Article concludes with two scenarios: one positive and one negative. The positive scenario would confirm another gigantic oil field discovery in the next decade and other important offshore discoveries that would substantially increase offshore and deep-water exploration in Colombia. This would reveal a country able to have the rule of law prevail, where individuals are in control of their lives and destiny. The negative version shows Colombia importing hydrocarbons, divided into two or more meaningless countries, and with even greater problems than those that exist today.
About the Author
Luis Enrique Cuervo. Adjunct Professor of International Petroleum Transactions, Tulane Law School; Partner, Fowler, Rodriguez & Chalos, New Orleans, Louisiana. LL.M. Tulane Law School.
Citation
77 Tul. L. Rev. 1033 (2003)