Jamaican Till I Die!

In 2008 oil prices jumped to a staggering US$147 Per Barrel. Guyana has 11 billion barrels of oil. Trinidad and Tobago have 0.24 billion barrels of oil and 10.53 trillion cubic feet of natural gas and all that oil and all that gas have done nothing for the struggling countries of CARICOM. There are no mutual development agreements for member countries. No one hand, washes the other, no special pricing, only crab in a barrel relationship. The only oil producing country in this region that went out of their way to help the struggling countries of the Caribbean was Venezuela and that help came about because our fellow CARICOM country Trinidad and Tobago reneged on a Memorandum of Understanding to supply oil to Jamaica at special rate. In fact, Trinidad and Tobago is notorious for reneging on signed agreement for selfish reasons. The EU put EU countries first before any other. The White Western World Order puts white countries first before any black or brown countries. The Caribbean Commu...

Even before the 2008 recession Jamaica struggled to finance it oil imports bill. During 2008 recession oil prices peaked at US$147 per barrel and if it was not for the PetroCaribe Agreement Jamaica would have suffered more than we did. The PetroCaribe agreement allowed Jamaica to buy crude oil from Venezuela by paying only a part of the cost upfront. The PetroCaribe agreement allowed Jamaica to pay 50% down payment for oil shipments and the other 50% paid back over 25 years at 1% interest rate. This deferred 50% was invested directly into the PetroCaribe Development Fund thus converting sovereign debt into a receivable asset used for Infrastructure development. The fund is the largest domestic investor in renewable energy and independently financed a 45-megawatt wind energy project in south-central Jamaica. Written into the PetroCaribe agreement is an objective that member states should gradually reduce their dependence on fossil fuels. Since 2005, the amount of Venezuel...