The administration of Colombian President Juan Manuel Santos submitted a constitutional reform proposal to Congress on Aug. 30 that seeks to "more equitably distribute" oil and mining royalties. Amid projections that revenues from those sectors will surge, the proposed reforms would allocate royalties more evenly across regions, rather than the current concentration in oil-producing states, and create a stabilization fund overseen by the central bank. Is the measure likely to pass and, if so, with what changes? What effects would the reform bill have on long-term financial stability? How does Colombia's strategy to manage revenues from natural resources compare to efforts made by other countries in the region?
Inter-American Dialogue's Latin American Energy Advisor. "Does Colombia Have the Right Plan for Oil & Gas Reforms?." (2010). http://digitalrepository.unm.edu/la_energy_notien/20