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Residents flee Colombian oil boom town

Thursday, February 26, 2015

Soaring oil prices the past decade transformed Puerto Gaitán, a rural backwater, into Colombia's richest city as nearby fields pumped black gold.

Now, crashing crude prices have the 45,000 residents of Puerto Gaitan bracing for a big fall, or already packing their bags. Many are questioning how the windfall was spent.

Source: Associated Press