Costa Rica Analyzes Possible Joining to Petrocaribe

[Horn]

From what I know of the specifics it locks the price of a barrel of oil at somewhere around $70 US for like the next 100 years.


San Jose, July 12 (Prensa Latina) The government of Costa Rica is evaluating the possible adhesion of this country to Petrocaribe, regional integration mechanism created from the Energy Cooperation Agreement promoted by the late Venezuelan President Hugo Chavez (1954-2013)
Joining the organization can facilitate the acquisition of Venezuelan oil at preferential prices and thus help reduce the rates of electricity and fuel in this country, according to members of the Frente Amplio, who proposed to consider the alternative.

If Costa Rica is joining Petrocaribe, it would finance 50 percent of the oil bill in this country for 25 years, with three-year grace period and a fixed interest rate of one percent, said Frente Amplio legislator Jorge Arguedas.

Another advantage would be, that the remaining 50 percent could not be paid in cash, but with Costa Rican products or services, and reinvestment for social good works, Frente Amplio members agreed.

"That option has to be analyzed to see if you really contributes to lower costs, so said President Luis Guillermo Solis and there we are, "said Minister of the Presidency, Melvin Jimenez.

Jimenez said that evaluating this and other proposals will be the task of a committee formed by the Executive in August and whioch suggestions will be turned into shares from January 2015.

Petrocaribe emerged on 29 June 2005, allows affiliates to pay a preferential price of crude oil in Venezuela and according to official data, in 2013 distributed 122,000 barrels per day from 12 members.

The accession of Costa Rica would be the presence of a fifth Central American country in this mechanism, in addition to Nicaragua, Guatemala, Honduras and El Salvador, which was added in June this year.

Venezuela, Cuba, Antigua and Barbuda, Haiti, Bahamas, Jamaica, Belize, Dominican Republic, Dominica, St. Kitts and Nevis, Granada, St. Vincent and the Grenadines, St. Lucia, Guyana and Suriname are also members of this group.

http://www.plenglish.com/index.php?option=com_content&task=view&id=2875291&Itemid=1

http://upload.wikimedia.org/wikipedia/commons/0/07/Petrocaribe-Map.png

[Ponce]

I can only wonder if the US will try and liberate Costa Rica, after all, they don't have an army.

V

[Horn]

I can only wonder if the US will try and liberate Costa Rica, after all, they don't have an army.

V

The accession of Costa Rica would be the presence of a fifth Central American country in this mechanism, in addition to Nicaragua, Guatemala, Honduras and El Salvador, which was added in June this year.

Think they already have, reason for Costa Rica not following the others in June. There is a huge population of Colombians here in fairly high position, they appear as the only group holding enough sway power to stay away from Venezuela, if it were all indigenous Ticos probably already would have joined.

Panama also has even more of a Colombian presence, and they are political. The Colombians seem to defy gravity of playing by standard laws as everyone else does. I can only wonder how they manage to do nothing and keep themselves funded, they stick close to eachother like jews do also.