PM meets with Petrocaribe, ALBA reps

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PM meets with Petrocaribe, ALBA reps
Prime Minister of Saint Lucia Dr. Kenny Anthony
Prime Minister of Saint Lucia Dr. Kenny Anthony

Prime Minister Dr Kenny Anthony this week met with representatives of Petrocaribe and ALBA at his official residence.

A few months ago, St. Lucia formalized its membership in the two groupings, stirring public debate. Dr Anthony has been outlining the benefits of Petrocaribe to the island against heavy criticism.

He said Petrocaribe will provide a full range of fuels through a joint venture company called PDV Caribe. Distributors Sol and Rubis, Dr. Anthony said, will have to work out details of their engagement in light of their existing purchase commitments with other suppliers.

Dr Anthony said profits will be directed as grant funding for projects and programmes. He has suggested that “a portion of the financing can go towards establishing a green energy fund, allowing businesses to get the affordable capital to make investments in renewable energy and energy efficiency”.

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  1. That is alot said about nothing. If this company sells petroeum products based on current market prices and operates at a profit then there is no reduction in price to the St. Lucian. Am I right? The only thing is that we will be getting credit. Isn't that the same type of policy that Dr Anthony is against "Raising the Public Debt?" After all paying at a later date will always attract interest.

    Will Sol and Ruby buy these products? Or is the government telling them that they don't have a choice? I don't fully understand that part yet. We need scrutinze those deals by the Prime Minister very carefully. We know his record especially with a country which is not a friend of the US, has oil but can't afford toilet paper.

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