Venezuela Stops Sending Oil To DR

cobraboy

cobraboy

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Based on the long term financing that Petrocaribe once offered---I have no idea if it's still in place---this could be bad news for the DR.

Under the old terms petroleum was a cash cow for gubmint: they bought on a 30 years note with modest down payment, then sold it generating huge cash flow.

I doubt anyone else would offer these terms.

Perhaps PICHARDO or NALs could tell us what's going on.
 
caribmike

caribmike

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Oh wow. What now? Selling the car and back to donkey? Just when I am planning to get a new one next year... :(

Guess prices for gas will then go from ridiculous to more ridiculous as I know "them"...
 
P

playacaribe2

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caribmike said:
Oh wow. What now? Selling the car and back to donkey? Just when I am planning to get a new one next year... :(

Guess prices for gas will then go from ridiculous to more ridiculous as I know "them"...
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The world is currently oversupplied with oil...so supply is not the problem.

The issue for the DR could become its ability to pay for that supply. A few short years ago, prior to Petrocaribe's full implementation, the DR would seem to incur shortages on a somewhat regular basis. Those "shortages" were a direct result of the government's inability to pay for oil.....as they were C.O.D....and very often scrambling to find the hard currency to pay.


Respectfully,
Playacaribe2
 
Garyexpat

Garyexpat

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"Felix Jimenez said the lack of supply is in effect since January and all the crude REFIDOMSA refines in from the United States, Mexico and Nigeria."

It appears because of the over abundance of supply we have gone almost a year without a problem. Yes the U.S., Mexico and/or Nigeria are not likely to accept beans and rice (or the promise of them) as a form of payment.
 
lifeisgreat

lifeisgreat

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What am I missing here ...dont we pay at pumps..dont pump dealers pay per load ..government keeping money not paying?
 
cobraboy

cobraboy

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lifeisgreat said:
What am I missing here ...dont we pay at pumps..dont pump dealers pay per load ..government keeping money not paying?
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Bingo!

It's how Chavez bought loyalty: he'd sell oil on long term notes, gubmint sells the product and keeps the money and will pay Venezuela in 30 years.

YUGE cash cow for the DR gubmint.
 
cobraboy

cobraboy

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Garyexpat said:
Yes the U.S., Mexico and/or Nigeria are not likely to accept beans and rice (or the promise of them) as a form of payment.
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Ironically, Venezuela could use those beans and rice right now.

And toilet paper.
 
Garyexpat

Garyexpat

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cobraboy said:
Ironically, Venezuela could use those beans and rice right now.

And toilet paper.
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Ironic, isn't it? and very sad. The only sad thing about Chavez being gone is that he probably won't get the blame for the disaster he created but his flunky Maduro will probably get be the full scape goat.
 
Robert

Robert

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Garyexpat said:
Ironic, isn't it? and very sad. The only sad thing about Chavez being gone is that he probably won't get the blame for the disaster he created but his flunky Maduro will probably get be the full scape goat.
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Keep it 100% DR related or it's gone.

Carry on...
 
melphis

melphis

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Perhaps the DR gov could make a deal with Canada. Bring in the so called "Dirty Oil" from Alberta. Refine it here and use the sand that's left over to replace the eroded sand on the beaches. It comes out clean and oil free.
The way I see it this could be a triple win situation for the DR and Canada.
The only draw back is Canada wants cash not rice and beans.
 
caribmike

caribmike

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No?

On the way to Bahia de las Aguilas, on the road after Enriquillo.

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You see only a few, there are hundreds of them in that place.
 
melphis

melphis

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cobraboy said:
What does Canada have against rice & beans?

He's a stand-up poster...
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Nothing against rice and beans but if you have even been to western Canada the banks want cash for all those lifted trucks pulling every toy imaginable. Not to mention the fuel to drive them.
I guess if someone invented a credit card machine that would accept rice and beans the DR could make a deal
 
U

USA DOC

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The USA would seem to be the simple choice....regular gas is at about $2 a gallon, they have a huge over supply, and are very close to the DR..........BUT they have a law against exporting oil, and if they could export to the DR, I am sure they would want COD. The law against export of any oil products, by the USA oil companies was challenged in court several times the last few years, and shot down by the usa government. Remember the past problems going back many years with OPEC, and the gas shortages in USA...... soooo... The USA, DR oil connection I think will never happen...........Doc...........
 
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