Latin America
Related: About this forumUS Unable to Supply Caribbean if PetroCaribe Ends, Admits Success of Venezuelan Program
US Unable to Supply Caribbean if PetroCaribe Ends, Admits Success of Venezuelan Program
By Lucas Koerner
Caracas, December 10, 2015 (venezuelanalysis.com) US Deputy National Security Advisor Ben Rhodes warned Caribbean nations Wednesday that the United States would be unable to supply them with oil in the event that that Venezuelas newly elected opposition-controlled parliament cuts off the flow of subsidized petroleum under the PetroCaribe program.
They have benefited substantially from PetroCaribe, Rhodes admitted, referring to a 2005 agreement between Venezuela and 18 Latin American and Caribbean nations, where Caracas supplies its neighbors with 100,000 barrels per day, 60% of which is paid up-front, while the remaining 40% can be paid over the course of 25 years at 1%.
Were not going to be able to simply substitute American oil for Venezuelan oil, the high-level official added.
The White House advisors praise for the Venezuelan program contrasts sharply with comments by Vice-President Biden in January who called PetroCaribe a tool of coercion in the region.
During a visit to Jamaica in April, President Obama unveiled a US plan to promote World Bank investment in the Caribbeans energy sector in a bid to persuade countries to break with the Venezuelan program. Rhodes claimed that the presidents program had already been successful in providing expertise in refining and energy planning, noting however that the US would be unable to offer a substitute to subsidized Venezuelan oil exports and that Caribbean countries would have to meet their energy needs on the world market.
More:
http://venezuelanalysis.com/news/11766
FBaggins
(26,748 posts)The US is perfectly "able" to do so. The question is why they would want to... and why anyone would even ask the question.
Bacchus4.0
(6,837 posts)and yes, why would you want to give away your resources?