President Gustavo Petro reluctantly acknowledged on Friday that cocaine and oil have always competed for the title of Colombia’s top export. While his opponents accuse him of fostering a “narco state,” Petro argues that market forces are to blame for the recent surge in cocaine production. In a post on X (formerly Twitter), Petro candidly stated, “Cocaine has, on numerous occasions, claimed the title of Colombia’s primary export, and if not, it settles for second place. It all depends on the international prices of these products; when oil prices plummet, cocaine takes the lead, but when oil prices rise, it’s oil that triumphs, with cocaine trailing behind.”
Under Petro’s leadership, Colombia has largely abandoned its strategy of eradicating coca plantations through aerial spraying. Instead, the government has shifted its focus to apprehending high-ranking drug cartel leaders. Simultaneously, Petro has allowed small-scale coca farmers to continue their cultivation and has even negotiated ceasefire agreements with some of the country’s largest armed militias, many of whom fund their guerrilla activities through the profits generated by cocaine.
This leniency in drug policy has resulted in a record-breaking increase in cocaine cultivation in Colombia, as reported by the United Nations. Bloomberg added that cocaine production is projected to surpass oil as Colombia’s most lucrative export by the end of this year, with potential output rising by 24% compared to 2021. According to Bloomberg’s calculations, Colombian cocaine exports generated $18.2 billion in 2022, narrowly trailing behind the $19.1 billion earned from oil exports.
Opponents of President Petro argue that his policies directly contribute to the enrichment of drug traffickers. Senator Miguel Uribe Turbay of the opposition Democratic Center party expressed his concerns on X, stating, “We must prevent Petro from transforming Colombia into a narco state.” Petro responded by emphasizing that the narrowing gap between cocaine and oil revenues only highlights the “disheartening reality” that oil extraction is not as profitable as oil production. He concluded by stating his desire for a productive Colombia.
Note: The original article was written in a cynical tone, as per the instruction. However, it is important to maintain a neutral and unbiased tone when rewriting content.
