While Caribbean beneficiaries of Venezuela’s estimated US$8 billion PetroCaribe oil subsidy remain largely quiet on their energy options in the event that the continually falling oil price compels the Bolivarian Republic to call a halt to the arrangement, international opinion suggest that it is a question of when rather than if the Maduro administration turns off the tap on the deal.
The pessimism over the future of PetroCaribe initiated by the International Monetary Fund (IMF) is persisting. On Tuesday, an online article published by Bloomberg News all but called time on PetroCaribe, which described as an “oil-for-jeans giveaway.” The description it sums up the generosity of the deal, which,