News

Colombian Government

Ecopetrol (BVC:ECOPETROL; NYSE:EC): does rummaging in the trash? July 2, 2009 if you are at home eating a banana, not pull the shell! It may be worth much more than you think. To who do not would like to produce oil?Undoubtedly a business as profitable as oil production, especially as soon as the global economy recovers and again boost the price of the barrel above the US $100, is an activity by others attractive. Yesterday, the barrel of WTI oil closed at $69,31 while that earlier this year made him to $46,34. With the increase in the price of crude oil and concerns about this non-renewable resource depletion, alternative energy sources began to win the center of attention. In this search for alternative sources of fuels, mankind has discovered that what before was garbage, can now be a very valuable source of income.

The production of biofuels from organic waste, among other means, is It is transforming into a business that nobody wants to Miss given the prospects of returns offered by activity in a context of a weak dollar which pressed upward the price of a barrel of crude in a behavior that can be kept, as the global economy does recover to the demand for energy resources. For Colombia, the development of biofuels is a strategic issue, as also is the exploitation of its oil resources. The Colombian Government aims to the country may be among the major players in the production of biofuels and is for this reason that some time ago it launched an aggressive plan of capital contribution to the sector and implementation of stimulus policies with the goal of reaching 3 million hectares with crops for biofuels by 2020, of which 2 million will be allocated to raw materials for the production of biodiesel and 1 million more for manufacture fuels alcohols, which serve to mix with gasoline.