The article discusses the divergent objectives that the U.S. and Colombia have in pursuing negotiations with drug traffickers, and outlines the conditions along which the U.S. may be able to accept accommodation with the cartel. The current war against drugs being waged by the Colombian government has done little to reduce cocaine production, and has wrought serious political, military, and economic costs in that country. The article outlines provisions of the four offers the drug traffickers' have made to date, the response of the Bogota government, and parameters of a possible U.S. role in achieving a workable drug peace. 29 notes