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Geopolitics

Voters In France, Greece, Serbia Send Bitter Message For Europe

François Hollande defeated incumbent Nicolas Sarkozy for the French presidency, with a final tally of 51.6%, against 48.38%. Change was also in the air in elections in Greece and Serbia.

Europe is changing: both French and Greeks voters made that clear Sunday night, with the same wind of change possibly blowing towards Serbia, which also held the first round of its presidential election.

In France, Socialist candidate François Hollande defeated incumbent Nicolas Sarkozy for the presidency, with 51.6% of the votes, against 48.38%. But according to Le Monde, the clock is already ticking for Hollande, who is taking on the burden of not just France's economic crisis, but a "sick Europe." Calls have been made for Hollande to meet Angela Merkel as soon as he takes office, to tackle with the current financial crisis, notably the continued crisis with Greek debt.

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Economy

The Bogus Concept Of "Carbon-Neutral" Oil

The Colombian president recently said that the country had exported one million barrels of carbon-neutral or offset oil. But in an unregulated carbon market, such a claim is pure greenwashing.

People walk in the streets of Bogotá

María Mónica Monsalve Sánchez

-OpEd-

BOGOTÁ - In March this year, various national and corporate leaders met in Houston, Texas, for CERAWeek, an annual conference to discuss the world's energy challenges. Colombia's President Iván Duque took the opportunity to remind participants that his country produced just 0.6% of the world's carbon emissions even as it had raised crude production to one million barrels a day.

He said oil should not be seen as an enemy, since the fight was really against greenhouse gas emissions. He also revealed at the event that the country's national oil firm, Ecopetrol, had sold the Asian market its first million barrels of carbon-neutral or offset crude, consisting of the entire extraction, production and exportation chain.

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