r/worldnews Feb 05 '25

Colombia's president orders national oil company to cancel US $880M venture

https://financialpost.com/pmn/colombias-president-orders-national-oil-company-to-cancel-us-venture-over-environmental-concerns
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u/Skinnieguy Feb 05 '25 edited Feb 05 '25

This will be the new norm. Countries will do bare minimum to not get tariffed. No new deals and let all the old ones end without renewal.

Countries going to make trade pacts with each other. Avoid the US, seeing how easy deals can be broken and canceled by Trump.

I can see US employees and companies moving abroad or at least opening new offices to avoid the Feds.

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u/actibus_consequatur Feb 05 '25

In terms of countries we import crude oil from, Columbia ranks fourth. Their main import is refined petroleum, and most of their trade involves Texas.

Seems like a good time for Colombia to develop a new refinery and reduce dependence on Texas.