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Tuesday, January 31, 2006
Trinidad and Tobago Prime Minister Patrick Manning has warned neighboring countries against the Venezuelan energy initiative for the region, known as Petrocaribe. Manning said the initiative would force private oil firms out, leaving the region dependent on a single state-run supplier. He suggested that Trinidad and Tobago could stop selling its own oil to its neighbors if Petrocaribe went ahead in its current form. He said he could not offer guarantees to countries wanting to resume buying oil from Trinidad if the Petrocaribe deal eventually failed. Trinidad and Tobago and Barbados are the only countries in the Caribbean not to have signed any agreements under the accord, in which Venezuela will supply oil at preferential rates.
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