Economy

US energy investments in the Caribbean on the rise – Daily News


While the US government has already set its geopolitical strategy, advisors have clarified that Venezuela’s financial aid including exports of energy under Petrocaribe could deteriorate because of the domestic economic crisis. This would make an impact on the Caribbean region in the short term and could also be an incentive for the US plans.

The Caribbean Energy Safety Summit, held on Monday, January 26 in Washington, showed the interest of Caribbean leaders in replacing the use of fossil fuels with the energy provided by wind or sun.

Under Petrocaribe, Venezuela supplies oil to 18 Caribbean countries in exchange of preferential loan terms and conditions. Such initiative championed by Venezuela has given rise to a substantial long-turn debt that intensifies as oil prices drop. via – Daily News.

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