SANTO DOMINGO.- President Leonel Fernandez will travel today to Cuba to attend the Sixth Petrocaribe Summit, to be held in the city Cienfuegos, with the participation of Heads of State of the agreement’s member countries.
The government said Fernandez will depart from San Isidro Airbase in the afternoon and upon his arrival, will participate in various activities in Havana.
Tomorrow, the chief executive is slated to go to Cienfuegos, for Petrocaribe’s inaugural at 10 a.m., with representatives from 18 nations present.
Venezuela’s president Hugo Chávez and a the Cuban government representative are expected to deliver speeches, with a work session to review the power integration agreement expected after that.
Fernandez’s delegation includes Foreign minister Carlos Morales, Administrative minister Luis Manuel Bonetti, Hacienda minister Vicente Bengoa, among other officials.
Yesterday in La Vega (central), Fernandez touted Petrocaribe’s benefits: "If the price of the barrel of petroleum reaches 100 dollars, we would pay 50 percent within the Petrocaribe agreement, and the other 50 percent in 25 years." He said that the Government is looking for internal mechanisms to take even more advantage of this agreement.
Written by: Escott, 20 Dec 2007 9:50 AM
From: Dominican Republic, Sosua/Cabrera
I get it now. We pay half the money today and the other half in the future. Further indebting us into oblivion.
Great deal if we retired other debt but NAH we will just make ourselves a slave to a slob dictator in the future. Talking about buying people, we are getting purchased heart and SOUL.
From: Dominican Republic, SPM
We do not see a price break at the pump though. Talk about Mafia.
Written by: Escott, 20 Dec 2007 8:29 PM
From: Dominican Republic, Sosua/Cabrera
Why would you see a price break at the pump when you pay the same price and more because you add interest onto it?
Who ever believes this is good for the DR is NUTZ. Where is Mr Dreadlocks to defend the indefencible?
Written by: Belial, 20 Dec 2007 9:07 PM
From: United States, Texas
"I get it now. We pay half the money today and the other half in the future. Further indebting us into oblivion," Escott wrote in an earlier post.
0000000000000
If you don't like the Petrocaribe deal, then pay the whole price up front or do without oil.
If you discover that operating without oil ... that you can't afford because of its rising price ... to be a little difficult, then don't snivel or whine, because you got what you ask for.
Plus, you can always get down on your knees, shed tears, sob, and beg the US imperialists for a better deal. Maybe the US imperialists will cut the premimum above the market price of oil that they charge most Caribbean countries and customers.
Written by: Escott, 20 Dec 2007 9:18 PM
From: Dominican Republic, Sosua/Cabrera
Hahaha now this is funny. We pay at the pump and the station pays the distributor. No credit needed. The Electric Generators make us not only pay for us but pay for the people who don't pay hence we have the highest electric costs in the free world.
We don't need the government to go into debt to pay for oil when we PAY for it as used just to indebt our children.
Since the US is a NET importer of oil they don't sell oil overseas. Canada probably is a net exporter of oil these day.
We paid for our oil before Mr Chavez came to power. Why don't we still do it? Reason is because our polititians STEAL all they can get their hands on. When we PAID for our oil we didn't have to pay interest 25 years later on the oil we already burned.
Just wondering if you dislike the US so much why live there? Hmmm? Maybe you don't?
This has nothing to do with the US Mr Chavez. I didn't know you read Dominican Today! LOL
Written by: Belial, 20 Dec 2007 9:45 PM
From: United States, Texas
(1) "Since the US is a NET importer of oil they don't sell oil overseas."
US oil companies sell oil all over the world, often under their own names.
(2) "Just wondering if you dislike the US so much why live there?"
Just wondering if you like US so much, why do you support the policies of traitors, by the GOP leaders, including Bush.
(3) "We don't need the government to go into debt to pay for oil when we PAY for it as used just to indebt our children."
The Petrocaribe debt is not like an imperialist debt owed to US oil companies which is payable only in the increasingly worthless US dollars. The petrocaribe debt can be repaid in bananas, tobacco, corn, and other goods and services that DR produces and exports ... as well as in US dollars or in other major currencies.
From: United States, north carolina but a real domincan
the president is really going nuts he thinks that this going to help the economy no it is goingt o worsen it but for now he is the president even though he does not what he is doing to our country
Written by: Escott, 21 Dec 2007 7:58 PM
From: Dominican Republic, Sosua/Cabrera
Dear Mr. Beliar,
Oil Companies are NOT the US government in case you aren't able to figure that out. They buy and sell but the "US" doesn't export oil since it is a NET importer after all the production they can gather.
If I like the US so much I "WOULD" live there but I live in the Dominican Republic and that is why I would like to see the Dominican Republic find a better track.
What I dislike is apologists who suck off the tit of a country and then apologize for everything that country does whether right or wrong.
I happen to have 2 passports. One a US passport and the other a Dominican Passport. I vote in both countries if I want to. I am a registered "DEMOCRAT" in the US. I would sell you a clue because evidently you couldn't find one with a flashlight, two hands and a roadmap but after reading what you write it just isn't worth my time.
You are dismissed..
Written by: Belial, 22 Dec 2007 12:54 AM
From: United States, Texas
(1) "Oil Companies are NOT the US government in case you aren't able to figure that out. They buy and sell but the "US" doesn't export oil since it is a NET importer after all the production they can gather."
So, the "US" doesn't export wheat because the US government doesn't do ... most of it. What you can't figure out is that the "US" is not just the election-stealing and lying regime in Washington under the mass murderer George W.Bush.
(2) "If I like the US so much I "WOULD" live there but I live in the Dominican Republic and that is why I would like to see the Dominican Republic find a better track. "
Notstandinging your ideas about where others should not live if they think a certain way, I will refrain from telling you where to go.
(3) "What I dislike is apologists who suck off the tit of a country and then apologize for everything that country does whether right or wrong."
Some "patriots" suck off objects a bit lower than a tit while they bow to GOP traitors.
From: United States
well Escott, let us examine your assertion of the addition of interest to future payments.In economics, there is a concept called the Time Value of Money, which states that a dollar today is not the same as a dollar 25 years down the road. it is not hard to figure, really. if i have to pay someone 1000 pesos, it is not the same if i pay him today or 25 years down the road. if he lends me the money at 2% interest, deferred for 25 years, and i can let it sit in the bank for 25 years at 5%, then i have gained 3% interest for 25 years. so much for your theory of indefensibility. secondly, the money we use to pay at the pump is pesos: the reserve currency is dollars. so if the oil bill comes due at the end of the month, we have to buy dollars to pay right away. out goes all that foreign currency which we could have used for other pressing needs. a 25 year moratorium gives us flexibility. chavez may be unsavory to you, but economics remains economics. over to you!
Written by: Escott, 22 Dec 2007 3:38 PM
From: Dominican Republic, Sosua/Cabrera
Dear Mr Dreadlocks,
We sell gas at the pumps in pesos at lets say 5 bux a gallon. When you add 25 years of interest on something that was previously sold how can that make sense? You cant resell something that isn't yours 25 years later to get the money to pay back.
The government is getting the money and just not paying it to Chavez and deferring the payment for 25 years at low interest? It isn't like the government is paying down HIGH COST debt and just changing vehicles of financing. I would bet that much of this money NEVER hits the DR economy because historically speaking the DR wastes and steals and the people get NADA.
How in the world is this a benefit? I just don't get it. I know the dollar has been on a slide for several years but there ARE times where the DOLLAR gains against other currencies and if history repeats itself the dollar is going to come back and I do believe that will happen. .
Escott
Written by: Bonao, 22 Dec 2007 10:35 PM
From: United States
President Leonel is a bum i dont know why his country loves him. South America is doing RD a favor and the citizens too. In United states you become richer and RD too but dont get me wrong they both good country and who has the better value.
From: Dominican Republic
dreadlocks your resoning would make sense if the money was indeed banked but it's not and will not be there to pay off the debt. So whether the rate of interest is 2% or even less, it is a time bomb with a ticking clock. I would argue that Petrocaribe is a good deal because we can pay with things we produce instead of hard currency which is stolen as soon as it arrives under the guise of projects that don't really get off the ground but exist only as vehicles for stealing. The deferred payment I don't think is so good. We should pursue full payment in goods and services.
Written by: Belial, 23 Dec 2007 1:00 AM
From: United States, Texas
Most developing countries borrow from the IMF, World Bank, or other imperialist-dominated financial institutions to pay for imports, including imports of oil. The cash paid for these imports is not "full payment" in the least. A foreign debt remains, after these cash payments, owed to imperialist financial institutions and, often, imperialist regimes.
The terms of this imperial foreign debt is a thousand time more onerous than Petrocaribe terms.
The difference is whether the DR wants to pay 2% on its foreign debt to Venezuela or, pay after periodic rescheduling ... not to mention other financial charges ... up to something like 15% or 20% to the imperialist thieves in NYC. And the cost of financing imports through imperial institutions is rising rapidly.
Written by: Escott, 23 Dec 2007 8:36 AM
From: Dominican Republic, Sosua/Cabrera
Juan in Santodomingo I couldn't agree with you more. Seems very simple to me.
From: United States
lets try his again, Escott. firstly, we are receiving 90 million dollars per year in savings. we are paying 50 dollars per barrel for the 50,000 barrels per day, as opposed to 100 dollars. secondly, the 25 year moratorium represents a 25 year INTEREST FREE loan. the repayment begins in the 26th year. the fact that the governments are too irresponsible to take advantage of a deal such as this is not the issue. if somebody lends you 5000 dollars today, and tells you that you have a 25 year grace period to repay, then you repay at 2% interest, i guarantee you could devise many investment schemes to be able to pay. if the dr government took all the money due to venezuela and bought united states treasury bills instead of metros, we would be able to repay, with surplus. so dont blame the idea, blame the morons who cannot manage money!
Written by: Belial, 23 Dec 2007 2:26 PM
From: United States, Texas
Reactionary US citizens, about a third of the US population, believe that larcency is a supreme moral law for them.
US oil campanies sell to most Caribbean countries at a premimum above the world market price that is set in NYC and London. When these small, poor countries find an alternative source of oil, the imperialist thieves are infuriated by the competition which cuts into the thieves' profits.
Most Caribbean countries borrow from IMF and world bank at shylock rates to import oil sold at a imperialist premimum.
Petrocaribe is an alternative source of energy supplying oil sold at 60% cash of market price and the remaining 40% financed on extremely favorable terms, such as 2% interest over several decades. Naturally, Petrocaribe enrages the US thieves who count on their super-profits from the Caribbean and supporters of the US international larcency system therefore attack Petrocaribe.
Steal oil from Iraq and sell it at premimum. Free enterprise!
Written by: Escott, 23 Dec 2007 2:45 PM
From: Dominican Republic, Sosua/Cabrera
Mr. Dreadlocks,
From what I have read we buy oil at the market rate but on credit and not at a 50% discount. Matter of fact I read this on Dominican Today. What you are saying is contrary to what I have read. What do you think happens to the money that is paid at the pump or in payments to electricity companies?
Government buys the oil and sells it to the distributors. The government is paid for the oil but the government doesn't pay for it today but 25 years from now and even at a low interest rate this makes no sense to me at all. We are indebting ourselves just so these polititians get fat?
So to put this in a nutshell I think this agreement is bad for the Dominican Republic because we have people stealing more money than before.
Written by: Belial, 23 Dec 2007 2:50 PM
From: United States, Texas
With $90+ oil prices, Venezuela still makes a profit on Petrocaribe oil sales only on the 60% cash part of the deals. For example, say, a barrel sells for $100 on the world market;so, 60% is therefore $60. It costs about $25 for Venezuela to produce a barrel. On the cash part alone, Venezuela makes about $35 per barrel, a little more than a 100% return.
When Caribbean countries buy oil from US imperialist thieves, these countries only get a drop of oil after the imperial charges are deducted. These countries pay high interest rates on the money they borrow from the IMF and WB for imports. They pay for oil at a premimum above the market price. The US transportation costs for the oil are a form of largency and consumes a lot of money. US facilities store the oil in Caribbean countries at the unimaginable high prices.
The result is that these countries may borrow $50M ... and after deduction of expenses ... get only a drop of oil - by design - from the US mercantile thieves.
From: United States
Escott, my understanding of petrocaribe is that we are paying 50.00 per barrel. if you have information that contradicts my assertion, then i would appreciate it if you show me where it is. if petroleum from venezuela costs the same as world market prices, i would like to know how it saved us 575 million in 2 years.
Written by: Belial, 24 Dec 2007 3:49 PM
From: United States, Texas
Dread;ocks.
Petrocaribe has a technical pricing regime. Under OPEC rules of which Venezuela is a member, Venezuela can't sell under the world market price. But each OPEC member can determine the terms of repayment.
As long as the world market is under $100 per barrel, Petrocaribe requires 60% up front in cash and the remaining 40% of the price is financed on very favorable terms. If the world market price hits $100, Petrocaribe requires 50% up front in cash and the remaining 50% in financed by Petrocaribe on favorable terms.
What the DR president means by "saving $575 M" is that the DR now has or should have $575M in its accounts and the DR can do anything it wants with the money, but if the DR had submitted to deals offered by US imperialist theives, the DR wouldn't have one penny of the $575M and would owe the US theives even more that $575M due to predatory lending practices of the US imperialists.
Belial
From: United States
thanks for clearing that up, Belial. the fact is that since we do not produce petroleum, we have to get it from someone else, whom we have to pay. we have a choice.. we can buy on favorable terms, such as petrocaribe, or we can buy on the spot market, and borrow money to pay for it. it does not matter from whom you borrow..you still have a debt. there are people out there that believe the IMF is like a commercial bank with unlimited funds , and who lends money to countries who sign on the dotted line. they have a one size fits all recipe, which they require of most borrowers. the first thing is that they demand that you privatise utilities such as electricity and water. then they demand liberalisation of the economy, permitting the free movement of speculative capital. then they demand the removal of subsidies which help the poor, invoking the free market mantra. these are not secrets... they have destroyed many an economy..look at argentina, for instance
From: United States, NJ
Mr Belial & Dreadlocks: You both have very good arguments from which i am learning .
Dreadlocks,On your10/22/07at 12:07poster you can add Devaluation of the dollar+inflation+Cola+
compound interest to the loan "time value money."DR currency on its decline.
The way i understood the loan was on top of US$50 per barrel fluctuating prices,it is supposed to come down since this is a temporary transition untill oil price stabilizes itself upon the war's end.
Mr belial you are right if the savings are applied to national needs and not stollen by the politicians
You must also understand that the way the capitalist system is built upon is screw them before they screw you! For fast cash flow it is good if used as intended for good causes such as health & education.What i don't understand is why CUBA as a center of Petro-Caribe summit when up to the present publications I didn't know they produce any petro What would happen to the loan if Vnezuela destabilizes itself and they want it all?.
Written by: Belial, 28 Dec 2007 5:24 PM
From: United States, Texas
MrThelmoAlmeydaRancier,
I don't fully understand your comment. But I'll reply to what I believe I understand.
We agree that capitalism screws. Micheal Moore's film "Sicko" shows how capitalism is using health care nowadays. Many US citizens are sneaking into Cuba for competent and less expensive medical services, a business called medical tourism, about 40,000 US citizens seneaked into Cuba in 2006. Bush, the US "president," cut off certain kinds of health care to US children recently. Bush prefers to send the US parents' tax money to Israel, about 2 billion dollars a month. Increasingly, US education is for foreign students.
The venure of the annual Petrocaribe summit changes each year. Last year it was in Venezuela. This year in Cuba. Next year in Belize. Then some other member country.
Already, Cuba domestically produces about half of its oil it needs. Storage facilities are being expanded rapidly so that Cuba will be a Caribbean distribution center for oil.
Belial
Written by: Escott, 28 Dec 2007 6:34 PM
From: Dominican Republic, Sosua/Cabrera
Dear Mr Dreadlocks,
It says so right in the article we are commenting on.
Let me just try and simplify my feelings here.
We have the money to PAY for the oil. We pay hard pesos at the pump and in our electricity monthly bills.
If there was a law that said that every penny we don't pay for oil must be used to pay down other high interest debt I would go for it in a heartbeat. They don't do this. They are just PISSING AWAY or STEALING this money hence making bad for those of us that LIVE HERE for the future and for our childrens futures.
The reason the IMF ever came to this country was because of swindles by DOMINICANS and not from foreigners no matter what the fellow with the TOXIC hate of the US tries to imply or even say.
A lot of DOMINICANS blame the problems on outsiders because NEVER does a Dominican ever own blame. Always the "Odderguy Complex". This country will go NOWHERE until it even realizes that it is culpable.
From: United States
actually, Escott, the IMF does not go into countries to help them. it does not embark on policies to help economies, but to stabilise currencies. the first recommendation it makes is to privatise public assets, not because they can be more efficiently run privately, but to take them off the government payroll. then it recommends currency liberalization, meaning the free flow in and out of foreign capital, which is usually speculative. it also recommends higher interest rates, which attracts more of this dangerous hot money. this, of course, retards productivity locally, because it deters entrepreneurs from borrowing venture capital. it then demands removal of subsidies to sectors of the economy, meanwhile we have to compete with imports produced abroad with the help of subsidies. and Escott, if they didnt piss away the oil money, they would piss away something else!!
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Great deal if we retired other debt but NAH we will just make ourselves a slave to a slob dictator in the future. Talking about buying people, we are getting purchased heart and SOUL.
Who ever believes this is good for the DR is NUTZ. Where is Mr Dreadlocks to defend the indefencible?
0000000000000
If you don't like the Petrocaribe deal, then pay the whole price up front or do without oil.
If you discover that operating without oil ... that you can't afford because of its rising price ... to be a little difficult, then don't snivel or whine, because you got what you ask for.
Plus, you can always get down on your knees, shed tears, sob, and beg the US imperialists for a better deal. Maybe the US imperialists will cut the premimum above the market price of oil that they charge most Caribbean countries and customers.
We don't need the government to go into debt to pay for oil when we PAY for it as used just to indebt our children.
Since the US is a NET importer of oil they don't sell oil overseas. Canada probably is a net exporter of oil these day.
We paid for our oil before Mr Chavez came to power. Why don't we still do it? Reason is because our polititians STEAL all they can get their hands on. When we PAID for our oil we didn't have to pay interest 25 years later on the oil we already burned.
Just wondering if you dislike the US so much why live there? Hmmm? Maybe you don't?
This has nothing to do with the US Mr Chavez. I didn't know you read Dominican Today! LOL
US oil companies sell oil all over the world, often under their own names.
(2) "Just wondering if you dislike the US so much why live there?"
Just wondering if you like US so much, why do you support the policies of traitors, by the GOP leaders, including Bush.
(3) "We don't need the government to go into debt to pay for oil when we PAY for it as used just to indebt our children."
The Petrocaribe debt is not like an imperialist debt owed to US oil companies which is payable only in the increasingly worthless US dollars. The petrocaribe debt can be repaid in bananas, tobacco, corn, and other goods and services that DR produces and exports ... as well as in US dollars or in other major currencies.
Oil Companies are NOT the US government in case you aren't able to figure that out. They buy and sell but the "US" doesn't export oil since it is a NET importer after all the production they can gather.
If I like the US so much I "WOULD" live there but I live in the Dominican Republic and that is why I would like to see the Dominican Republic find a better track.
What I dislike is apologists who suck off the tit of a country and then apologize for everything that country does whether right or wrong.
I happen to have 2 passports. One a US passport and the other a Dominican Passport. I vote in both countries if I want to. I am a registered "DEMOCRAT" in the US. I would sell you a clue because evidently you couldn't find one with a flashlight, two hands and a roadmap but after reading what you write it just isn't worth my time.
You are dismissed..
So, the "US" doesn't export wheat because the US government doesn't do ... most of it. What you can't figure out is that the "US" is not just the election-stealing and lying regime in Washington under the mass murderer George W.Bush.
(2) "If I like the US so much I "WOULD" live there but I live in the Dominican Republic and that is why I would like to see the Dominican Republic find a better track. "
Notstandinging your ideas about where others should not live if they think a certain way, I will refrain from telling you where to go.
(3) "What I dislike is apologists who suck off the tit of a country and then apologize for everything that country does whether right or wrong."
Some "patriots" suck off objects a bit lower than a tit while they bow to GOP traitors.
We sell gas at the pumps in pesos at lets say 5 bux a gallon. When you add 25 years of interest on something that was previously sold how can that make sense? You cant resell something that isn't yours 25 years later to get the money to pay back.
The government is getting the money and just not paying it to Chavez and deferring the payment for 25 years at low interest? It isn't like the government is paying down HIGH COST debt and just changing vehicles of financing. I would bet that much of this money NEVER hits the DR economy because historically speaking the DR wastes and steals and the people get NADA.
How in the world is this a benefit? I just don't get it. I know the dollar has been on a slide for several years but there ARE times where the DOLLAR gains against other currencies and if history repeats itself the dollar is going to come back and I do believe that will happen. .
Escott
The terms of this imperial foreign debt is a thousand time more onerous than Petrocaribe terms.
The difference is whether the DR wants to pay 2% on its foreign debt to Venezuela or, pay after periodic rescheduling ... not to mention other financial charges ... up to something like 15% or 20% to the imperialist thieves in NYC. And the cost of financing imports through imperial institutions is rising rapidly.
US oil campanies sell to most Caribbean countries at a premimum above the world market price that is set in NYC and London. When these small, poor countries find an alternative source of oil, the imperialist thieves are infuriated by the competition which cuts into the thieves' profits.
Most Caribbean countries borrow from IMF and world bank at shylock rates to import oil sold at a imperialist premimum.
Petrocaribe is an alternative source of energy supplying oil sold at 60% cash of market price and the remaining 40% financed on extremely favorable terms, such as 2% interest over several decades. Naturally, Petrocaribe enrages the US thieves who count on their super-profits from the Caribbean and supporters of the US international larcency system therefore attack Petrocaribe.
Steal oil from Iraq and sell it at premimum. Free enterprise!
From what I have read we buy oil at the market rate but on credit and not at a 50% discount. Matter of fact I read this on Dominican Today. What you are saying is contrary to what I have read. What do you think happens to the money that is paid at the pump or in payments to electricity companies?
Government buys the oil and sells it to the distributors. The government is paid for the oil but the government doesn't pay for it today but 25 years from now and even at a low interest rate this makes no sense to me at all. We are indebting ourselves just so these polititians get fat?
So to put this in a nutshell I think this agreement is bad for the Dominican Republic because we have people stealing more money than before.
When Caribbean countries buy oil from US imperialist thieves, these countries only get a drop of oil after the imperial charges are deducted. These countries pay high interest rates on the money they borrow from the IMF and WB for imports. They pay for oil at a premimum above the market price. The US transportation costs for the oil are a form of largency and consumes a lot of money. US facilities store the oil in Caribbean countries at the unimaginable high prices.
The result is that these countries may borrow $50M ... and after deduction of expenses ... get only a drop of oil - by design - from the US mercantile thieves.
Petrocaribe has a technical pricing regime. Under OPEC rules of which Venezuela is a member, Venezuela can't sell under the world market price. But each OPEC member can determine the terms of repayment.
As long as the world market is under $100 per barrel, Petrocaribe requires 60% up front in cash and the remaining 40% of the price is financed on very favorable terms. If the world market price hits $100, Petrocaribe requires 50% up front in cash and the remaining 50% in financed by Petrocaribe on favorable terms.
What the DR president means by "saving $575 M" is that the DR now has or should have $575M in its accounts and the DR can do anything it wants with the money, but if the DR had submitted to deals offered by US imperialist theives, the DR wouldn't have one penny of the $575M and would owe the US theives even more that $575M due to predatory lending practices of the US imperialists.
Belial
Dreadlocks,On your10/22/07at 12:07poster you can add Devaluation of the dollar+inflation+Cola+
compound interest to the loan "time value money."DR currency on its decline.
The way i understood the loan was on top of US$50 per barrel fluctuating prices,it is supposed to come down since this is a temporary transition untill oil price stabilizes itself upon the war's end.
Mr belial you are right if the savings are applied to national needs and not stollen by the politicians
You must also understand that the way the capitalist system is built upon is screw them before they screw you! For fast cash flow it is good if used as intended for good causes such as health & education.What i don't understand is why CUBA as a center of Petro-Caribe summit when up to the present publications I didn't know they produce any petro What would happen to the loan if Vnezuela destabilizes itself and they want it all?.
I don't fully understand your comment. But I'll reply to what I believe I understand.
We agree that capitalism screws. Micheal Moore's film "Sicko" shows how capitalism is using health care nowadays. Many US citizens are sneaking into Cuba for competent and less expensive medical services, a business called medical tourism, about 40,000 US citizens seneaked into Cuba in 2006. Bush, the US "president," cut off certain kinds of health care to US children recently. Bush prefers to send the US parents' tax money to Israel, about 2 billion dollars a month. Increasingly, US education is for foreign students.
The venure of the annual Petrocaribe summit changes each year. Last year it was in Venezuela. This year in Cuba. Next year in Belize. Then some other member country.
Already, Cuba domestically produces about half of its oil it needs. Storage facilities are being expanded rapidly so that Cuba will be a Caribbean distribution center for oil.
Belial
It says so right in the article we are commenting on.
Let me just try and simplify my feelings here.
We have the money to PAY for the oil. We pay hard pesos at the pump and in our electricity monthly bills.
If there was a law that said that every penny we don't pay for oil must be used to pay down other high interest debt I would go for it in a heartbeat. They don't do this. They are just PISSING AWAY or STEALING this money hence making bad for those of us that LIVE HERE for the future and for our childrens futures.
The reason the IMF ever came to this country was because of swindles by DOMINICANS and not from foreigners no matter what the fellow with the TOXIC hate of the US tries to imply or even say.
A lot of DOMINICANS blame the problems on outsiders because NEVER does a Dominican ever own blame. Always the "Odderguy Complex". This country will go NOWHERE until it even realizes that it is culpable.