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Colombian Oil Energy Security through a Framework of Risks and Vulnerabilities

Author

Listed:
  • John Grimaldo-Guerrero

    (Universidad de la Costa, Colombia)

  • Juan Rivera-Alvarado

    (Universidad Simón Bolívar, Facultad de Administración y Negocios. Barranquilla, Colombia)

  • Jainer Acosta-Bustamante

    (Universidad de la Costa, Colombia)

  • Tulio Cabeza-Abello

    (Universidad de la Costa, Colombia)

  • Jose Osorio-Tovar

    (Estudiante de Ingeniería Eléctrica, Universidad de la Costa, Colombia, Instituto Universitario Politécnico “Santiago Mariño†, Colombia)

Abstract

The dynamics of oil markets are influenced by both international and local contexts, which determine their potential for success and sustainability. This article uses a conceptual methodology to analyze the characteristics that are present in successful energy markets. These characteristics can help identify inhibitors and barriers that may hinder the growth and development of the market. The analytical-propositive methodological design consists of three phases: firstly, a diagnosis is conducted to describe the costs associated with oil production, which will allow for the identification of economic characteristics. Secondly, attributes of the Colombian oil market are identified through a documentary and regulatory analysis. Finally, strategic guidelines are inferred, which can be used as inputs for the formulation of energy policies. The results highlight that sustainable development policies must involve both public and private actors to strengthen decision-making and the quality of processes, thereby providing greater scope.

Suggested Citation

  • John Grimaldo-Guerrero & Juan Rivera-Alvarado & Jainer Acosta-Bustamante & Tulio Cabeza-Abello & Jose Osorio-Tovar, 2024. "Colombian Oil Energy Security through a Framework of Risks and Vulnerabilities," International Journal of Energy Economics and Policy, Econjournals, vol. 14(5), pages 479-486, September.
    • Handle: RePEc:eco:journ2:2024-05-49
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Oil Market; Energetic Policy; Sustainable Development; Barriers; Inhibitors;
    All these keywords.

    JEL classification:

    • Q35 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Hydrocarbon Resources
    • Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy)

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