Colombia is a rising energy producer that has just discovered huge new oil deposits in its Meta jungle, more than doubling its reserves to 4 billion barrels overnight. Nothing would help more than a partner with a permanent trade agreement -- as Colombia ought to have -- instead of a petrotyrant, says IBD:
Unlike its neighbors Venezuela and Ecuador, Colombia wants to be a reliable partner and supplier to the United States to attract the investment it needs to develop.The U.S.-Colombia free-trade accord, stalled in Congress by House Speaker Nancy Pelosi since April, would promote investment and production. The United States benefited hugely from 1994's NAFTA deal, which made Canada our No. 1 oil supplier. A deal with Colombia would solidify its energy ties to the United States, too, says IBD.
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