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11/27/13

Colombia's Energy Minister: Colombian oil reserves "extremely precarious"

Colombia Reports has the story, here's how it starts:

Colombia’s oil reserves will be exhausted in seven years at the current rate of extraction said Energy Minister on Tuesday.  This is particularly alarming because according to government figures, about half of Colombia’s export dollars come from oil.  Minister Amylkar Acosta told El Espectador newspaper that no new major discoveries of oil had been made recently and that Colombia’s reserves were “extremely precarious.”