From Antigua Observer

CASTRIES, St. Lucia, Dec 19, CMC – The leader of the main opposition United Workers Party (UWP), Allen Chastanet, is warning that plans by the opposition controlled parliament in Venezuela to review the PetroCaribe initiative, could result in Caracas being unable to meet its obligations to St. Lucia and other Caribbean countries.

Chastanet spoke to reporters after the Secretary General of opposition party Primero Justicia (Justice First) and re-elected deputy at the National Assembly y of Venezuela, Tomás Guanipa, said there was need to review the initiative, an oil alliance of many Caribbean states with Venezuela to purchase oil on conditions of preferential payment.

Guanipa was reported in the Venezuelan-based El Universal as saying “We cannot continue selling oil due in 20 years when we need resources immediately. We will promote that our oil is for Venezuelans”.

Guanipa said the new National Assembly to be installed in January in Venezuela will revise international oil agreements the government has signed through oil alliance Petrocaribe.

Chastanet said told reporters “whatever projects St. Lucia has received approval for or is expected to get money for is expected to be in jeopardy.

“ I think the Venezuelan economy by all accounts is on a verge of a collapse so anybody who is going to continue depending on that money coming here are fools.”

He said the UWP has repeatedly said that what is going on in Venezuela is not sustainable and has questioned the government countless times on why it is collaborating with a country that is in breach of so many human rights.

“A global price drop in oil prices will translate to a significant change in policy to Petrocaribe,” he said.

Last month, St. Lucia signed the PetroCaribe Joint Venture Agreement with Venezuela that seeks to foster trade between Saint Lucia and Venezuela.

President of PetroCaribe Bernardo Alvarez signed the agreement here with Prime Minister Dr. Kenny Anthony.

For more on this story go to: http://antiguaobserver.com/opposition-warns-of-problems-under-petrocaribe/