In spite of the terrible dependence on Venezuelan oil, IF the PetroCaribe deal is revoked or breaks down, the DR will probably have a governmental panic but not for long.
In fact, if you think about it, it might force the DR government to really tighten its belt.
Look at it like this:
The buying public has received absolutely NO benefits from PetroCaribe--the gubmint has.
We, that buying public, are paying some of the highest gasoline/diesel/kerosine prices in the Caribbean at $5.90 dollars a gallon.
So what if PetroCaribe falls through> ? We buy oil through the San Jose Accords, the government tries to raise prices even more, there will be widespread strikes and some violence, the gubmint will have to retreat and find some there else to find money...and we will still have fuel for our cars and generators.
Playing to the Venezuelan dictator's whims will just buy time.
Venezuela used to export over 1.3 million barrels a day to the US, which were paid for. Today the amount is less than 800,000 barrels and still paid for. Why? Closing in on a million barrels a day to China to pay off debts there and about 800,000 barrels a day to the ALBA countries and PetroCaribe--none of which it gets paid for..AND,,,,gasoline is still less than 50 cents a gallon in Venezuela....much less...
I wonder if this makes sense??
Oh well..
HB