Tuesday, August 6, 2013

Positive results from First Petrocaribe Working

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6 comments:

Anonymous said...

The SLP would be well advised, if it were to go to the World Bank and seek funding to fast-track a strategic alternative to fossil fuel use in Saint Lucia. That institution with performance/achievement dependent drawdowns, would guide the government of the day towards the best alternative(s) given the state of the art developments of the various technologies.

Like food security, energy security is imperative and fundamental to counter the cost-of-living adjustments now necessary with the very poorly introduced and inflationary VAT.

Petro Caribe has very serious implications for long term sustainable development and management of this economy.

First, is violates one of the fundamental tenets of economics. Government should not borrow funds to finance consumption. That should be rarely be done generally except on a short- to medium-term support in the face of an exogenous shock such as an unpredictable poor export performance. By the way, tourism is just one of our exports.

Governments should borrow for investments with acceptable rates of return, such as the recommendation above. It would remove dependence, continuous borrowing like the Petro Caribe arrangement does, and because of the great likelihood of renewable energy options with energy conservation, produce an economic impact would be synergistic. The result would see the whole being greater than the sum of the individual contributing parts.

Petro Caribe keeps on adding to, and converting a consumption expense into a never-ending long-term sovereign debt from here on. This cannot bode well for our debt situation.

Beyond this, the terms of the loan (currently 60% of the expense) are subject to change and the loan is callable. A reverse of the ratio to 60% payment and 40% loanable funding, would be a great deal more financially sustainable for the country also.

August 6, 2013 at 10:29 AM
Anonymous said...

An SLP government unable to lead... again! http://www.caribbeannewsnow.com//stlucia.php?news_id=14912&start=0&category_id=20

“Matters such as the reliability of the supply chain, storage and distribution, and the ongoing relationship with the Hess Oil Terminal Facility are of paramount importance. Additionally, payment terms, the price mechanism (wholesale and retail cost), and the economic implications are all cause for concern. As well as deferring the purchase cost of fuel and petroleum products that attract interest payment 15 -25 years before full payment is made in cash, or in kind. This further illustrates the concept of a false economy and the untrue cost of services, and subsequently the bi-products. Therefore, the notion held by the government of Saint Lucia that PetroCaribe will give them “greater flexibility to manage and stabilize the prices of petroleum products on the local market" and that " the revenue that is derived from the Petro Caribe arrangements will be used to invest in social development programmes and social infrastructure in Saint Lucia" is not only a misconception, but a reality that is yet to come to fruition in all of the islands that have thus far embraced PetroCaribe.”
“If there are any profits to be derived from the PetroCaribe arrangement, and I do insist on the use of the word "any", then the profits should be used to improve capital infrastructure, boost entrepreneurship, and improve the skills of workers for the jobs of the future through STEM (science, technology, engineering, maths). This would result in extra production to pay in full for future shipments and not increase Saint Lucia’s current $140 million annual interest payments. Also, the concept of another supplier/distributor for petroleum products in our limited economic space has to accomplish at least three things:
- Improve the quality and efficiency of fuel and its bi-products
- Increase service through competition that enables a lower marketable price point for the consumer that is not subsidized by government
- And, the supplier/distributor must seek to engage in renewable source of energy with capital investment that will transition Saint Lucia’s energy needs in the future.”

August 6, 2013 at 3:15 PM
Anonymous said...

Yes, and your flambeaus, with all their miscreats in tow; viz. drug baron, seller of his patient's medical records for a profit - for $$$, for MONEY, jailbirds, those who lied to the courts while under oath, one in particular that is a total category 5 moron - even suggested to Cabinet once they should borrow and banked the loaned funds and repay the original amount by the interest; if that is not country bookie thinking; pray, what is - yeah, those can lead magnificently, can't they.

While you're at it, why don't you explain to Guy Joseph a little bit of accounting principles.

August 7, 2013 at 7:00 AM
Anonymous said...

US drones stationed in Curacao and Aruba ready to attack, says former Venezuela vice presiden

WILLEMSTAD, Curacao -- Former Venezuelan vice president, Jose Vicente Rangel, has warned of a possible US drone attack, stating that the drones had entered Venezuelan airspace.

jose_vicente_rangel.jpg
Jose Vicente Rangel
“These drones, airplanes without pilots, which have been used by the United States of America as a military weapon across the world, have been deployed from sites close to Venezuela. We have seen projects that are currently underway in Curacao and Aruba. These drones are constantly doing different maneuvers around the area,” Rangel declared during his television show.

According to Rangel, these maneuvers are part of a conspiracy to attack Venezuela and other South American countries.

“These destabilizing plans are against some countries in the region, especially against Bolivia, Ecuador and Venezuela, and the US military will start operations in the month of August,” the former politician told his television audience last weekend.

Republished with permission of the Curacao Chronicle

http://www.caribbeannewsnow.com/topstory-US-drones-stationed-in-Curacao-and-Aruba-ready-to-attack%2C-says-former-Venezuela-vice-president-17129.html

August 7, 2013 at 7:14 PM
Anonymous said...

I believe it has to do with the Snowden affair. Venezuela does entertain the idea of granting him asylum.

August 7, 2013 at 8:56 PM
Anonymous said...

SLP does NOT have the ideas nor the leadership skills necessary to break with the lack-lustre performance of its ENTIRE administration. Kenny came in with a great deal of paper but that was not a strategic plan. His lack of business, commercial, management and economic experience is most prominent in the absence of what should be part and parcel of the language of someone who has the pulse of the nation and its economy. Hence, the stagnation and sense of futility and despair deepens.

August 12, 2013 at 5:42 PM

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