Are there contradictions in Colossians 1?

Colossians 1:20 Does this verse support universal salvation?

Problem: 

Paul writes in this verse that Jesus would “reconcile all things unto himself.” If Paul is saying that all things were reconciled to Jesus by His death and resurrection, does this imply that all people will be saved? Other Scriptures clearly state that many will be lost.[1]

Solution: 

Paul does not speak about universal salvation at any point. In this passage, Paul is speaking about the universal sovereignty of the Lord Jesus Christ. Another way of saying this is that all authority has been given to Jesus, both in Heaven and on the Earth.[2]

However Paul speaks of being “in Christ” (or, being saved) he does not include those under the earth (or, the lost). All will one day bow the knee to the Lord Jesus Christ (Phil. 2:10) to admit to His universal Lordship. But this does not mean that all will be saved. A number of verses speak to the truth of those who will be eternally separated from God. Consider and study the following sections of Scripture: Matt. 25:41; Luke 16:19 – 31; John 17:12; 2 Thess. 1:7 – 9; and, Rev. 20:10 – 15. A thorough study of these passages will show that not everyone will be saved. 

Prayer: May I see the importance of sharing the only ultimate solution for mankind every chance I get. Father, there is no second chance. There is no universal salvation. Your Word gives the solution, yet many reject. Strengthen my desire to reach as many as I can with Your message of salvation and restoration. Amen.

_______________________

[1] Consider (Matt. 7:13 – 14; 25:41; Rev. 20:11 – 15). 

[2] Matthew 28:18