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Caribbean Looking to Venezuela for Cheap Oil

The Caribbean region is looking to the oil-rich country of Venezuela as it moves to reduce the burden of high prices of fuel. At the closing ceremony of CARICOM’s 43rd Regular Meeting of the Conference of the Heads of governments Prime Minister of Saint Vincent and the Grenadines, Dr Ralph Gonsalves, announced that Venezuela will begin supplying several CARICOM countries with oil. Prime Minister John Briceno shared more. 

Hon. John Briceno, Prime Minister of Belize: “The good news is that we’ve been talking through CARICOM to Venezuela and to the United States about asking the United States to ease up some of its restrictions with Venezuela and that we may have an opportunity to get the PetroCaribe program going once again. Maybe it might now be as generous as it was before but we’re still looking at maybe paying seventy cents on the dollar or something like that but that by itself is going to be a big help should we be able to convince the Americans to ease up on the restrictions that they have against Venezuela. At the Summit of the Americas that was one of the topics that we believe that they should ease up on the restrictions and also allow Trinidad and Tobago to be able to work with Venezuela because they have large fields of natural gas and because of sanctions against Venezuela Trinidad is not able to access the natural gas.”