LETTER: Puerto Rico may consider Petrocaribe?

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LETTER: Puerto Rico may consider Petrocaribe?


At a time when individuals and opposing political parties in some Caribbean islands are voicing disagreement that their island is signatory to the PetroCaribe agreement with Venezuela, and that given the opportunity they would revoke the agreement, Puerto Rico, a U.S colony, seems ready to consider what some island opposition parties would gladly do away with.

An article in the San Juan Daily Star of June 27-29 suggested that Puerto Rico should take advantage of an invitation to join PetroCaribe.

At a time when the Puerto Rico power company is apparently broke and facing bankruptcy, Venezuela President Maduro’s invitation to the island may just be what the doctor ordered, especially in the light of major investment thrusts set to begin here.

The Padilla government had considered raising airline fuel charges, but concerned airline executives expressed that such an approach would have had a negative effect on passenger arrivals to this American colony since the cost would eventually be passed on to the flying public.

Gasoline prices are increasing in Puerto Rico.

The San Juan Daily Star, June 27-29 2014 edition featured an article entitled, ‘PR Should Take Venezuela Up on PetroCaribe Invite, Independence Group Says’.

Ought we, not, in some of the islands who are already part of the PetroCaribe agreement carefully examine what our aspiring leaders are telling us with respect to this agreement? A full text of the San Juan Daily Star’s article follows. Emphases are mine in this Maria Amanda-Sierra article of June 27-29, San Juan Daily Star article.

PR Should Take Venezuela Up on PetroCaribe Invite, Independence Group Says

The Movimiento Independentista Nacional Hostosiano (MINH) on Thursday called on Gov. Alejandro García Padilla to accept Venezuela President Nicolás Maduro’s offer of joining the regional alliance PetroCaribe before declaring the Puerto Rico Electric and Power Authority (PREPA) in a state of bankruptcy.

“What is going on with the governor and PREPA that they haven’t expressed their interest in speaking with PetroCaribe about the possibility of benefiting from Maduro’s offer?” MINH said in a written statement. “This is worrisome and raises suspicions.”

In addition to petroleum, Venezuela supplies natural gas and gasoline, and offers advice on renewable energy transformation processes such as wind energy and thermal ocean energy, according to the MINH press release.

According to MINH, PetroCaribe was created due to the abuses that foreign-flagged ships perpetrate in the Caribbean regarding the sale of fuel, raising prices excessively. The agreement is based on the elimination of all intermediaries so that only those entities directed by the governments can intervene. Through the alliance, Caribbean nations purchase Venezuelan petroleum under the condition of a preferential payment, and the payments can be made through the exchange of services, providing advice and offering other products that Venezuela may need.

“Venezuela supplies petroleum to the Petro Caribe member countries at a fair price. The country making the purchase pays 40 percent of the bill in 90 days and the remaining 60 percent is financed for 20 years at a very low annual interest rate,” MINH Co- President Héctor Pesquera said. “This would mean a savings of hundreds of millions of dollars and the recapitalization of PREPA. It would save PREPA from having to file for bankruptcy and it would lower the cost of energy production immediately.”

The Star tried to obtain a reaction from La Fortaleza regarding if and when the Venezuelan government made this offer, but as of press time the press office had not issued a statement.

“One of the conditions for benefiting from the preferential payment offered by PetroCaribe to its member countries is that there can’t be intermediaries that profit from the purchase. The benefit has to be passed on directly to the consumer,” Pesquera noted. “We suspect that the intermediaries at the Petroleum Cartel at PREPA are preventing the people of Puerto Rico can benefit from this opportunity. The governor owes the country an explanation. Or perhaps what he wants is for the public corporation to go bankrupt to be able to justify its privatization.”

PetroCaribe member countries include Antigua and Barbuda, Belize, El Salvador, Bahamas, Cuba, Dominica, Granada, Haiti, Jamaica, Guatemala, Guyana, Honduras, Nicaragua, San Cristóbal, Saint Kitts and Nevis, the Dominican Republic, Saint Lucia and Saint Vincent.

 

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3 COMMENTS

  1. Why join PETROCARIBE? Is led by corrupted Venezuelan politicians who do not understand economics and can barely sustain their own people. Venezuelan oil is the highest in sulfur which makes it a high pollutant thus making it a junk fuel. This does not equal to a win win situation, they are just trying to stick it to the USG by pretending to care and entice fools and ignorant with their crap fuel.

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  2. What is the purpose of this article.
    The writer took all this time to write about what he / she does not know will happen or not.
    The writer is drawing conclusions from a premise that is not a fact.
    Why the hurry to jump the gun?
    WHY?
    Seems ready to consider.These are the writer's words.Drawing conclusions from such words seems un-intelligent
    If the writer wants to chastise persons and political parties who oppose the petro- Caribe agreement do so with facts,but do not use hearsay to do it.
    Since you know so much about the benefits of petro Caribe to the islands,tell us what the majority of people in Venuzuela think this agreement
    Tell us why there is so much strike and un-rest in that country.
    Tell us why a president creates hardship for his own people by giving badly using the country,s oil to advance an illogical cause.Venuzuela suffers while a president continues to promote a policy of trying to create a block of countries as a counter- weight to the USA.
    This current president does not even understand what he is doing.
    Also,tell us,Why are Cuban soldiers being used to crack down on venuzuelan citizens who are rightly demonstrating against a government who they believe is wasting the country'sresources.The cost of living for the average person has moved from bad to worse.Crime is way out of control.Human rights is non-existant.Empty shelves.Basic food items are very difficult to find.
    Tell us about these facts.Don't tell us about hearsay.
    SEEMS READY TO CONSIDER.Show some intelligence.

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