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Colombia’s president orders national oil company to sell US fracking operation after backing down to Trump [Video]

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Venture Capital

Colombian President Gustavo Petro ordered his country’s state-run oil company to sell off its operations in the U.S. on Tuesday, saying they would reinvest the funds into green energy.

Petro announced the move during a televised cabinet meeting this week, arguing the company, Ecopetrol, cannot be “for death and not for life.” The order relates to a planned joint venture between Ecopetrol and the U.S.-owned oil company Occidental Petroleum, or Oxy. The deal was set to produce some 90,000 barrels of oil per day, but Petro now says he opposes it because it relies on fracking.

“I want that operation to be sold, and for the money to be invested in clean energies,” Petro said in the meeting. “We are against fracking, because fracking is the death of nature, and the death of humanity.”

“There is no other way for humanity but to stop the path of fossil fuels,” he added. “This …

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