It cuts both ways Danilo

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playacaribe2

Gold
Jan 9, 2004
10,912
2,247
113
This upcoming Sunday President Maduro and President Medina and others will be meeting regarding Petrocaribe.
http://www.dominicantoday.com/dr/ec...dina-to-talk-oil-with-Maduro-trade-with-Obama

Sources in Venezuela indicate that a re-negotiation of the Petrocaribe agreement will be "discussed" to give Venezuela a larger share of payment in hard currency and shortened payment terms....as the economy continues to falter there.

It seems that the Venezuelan people are growing more and more dissatisfied with the current terms of the agreement (now that surely sounds like the Barrick situation in the DR) and certainly indicates President Maduro does not hold the sway that President Chavez had.

The DR had better get all those new "proposed" gas/coal power plants, wind farms, solar farms built and supplying the grid.....soon. They certainly do not have the currency reserves to buy and pay for oil C.O.D.


Respectfully,
Playacaribe2
 
Z

zoomzx11

Gold
Jan 21, 2006
8,367
842
113
Picardo says not to worry. All that new proposed will be finished very soon. Saw on the morning news that there was a big brawl among Venezuelan legislators yesterday. Feel sorry for any expat who bought real estate in that train wreck of a country.
 
cobraboy

cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
40,964
936
113
The economic noose is about to tighten.

That, or the DR needs to crank up their bean production...
 
C

Castle

Silver
Sep 1, 2012
2,982
1
0
DR is allegedly the only country that has never paid a dime to Venezuela for the oil received since Petrocaribe was founded. Several meetings have been held in order to find something DR can give to Venezuela in return. It seems the beans and chicken deals fell through. I guess Venezuela is just finding out what we all have known for a while now.
 
caribmike

caribmike

Gold
Jul 9, 2009
6,808
202
63
What about giving the digging rights from Barrick Gold to Venezuela in exchange for oil?

Not sure how long is the contract w/ BG going and if Venezuela has the capacity though...

Not sure if this would work or a stupid idea :) but s'thing has to be done...
 
D

dv8

Gold
Sep 27, 2006
31,266
363
0
Castle said:
DR is allegedly the only country that has never paid a dime to Venezuela for the oil received since Petrocaribe was founded. Several meetings have been held in order to find something DR can give to Venezuela in return. It seems the beans and chicken deals fell through. I guess Venezuela is just finding out what we all have known for a while now.
Click to expand...

how about DR gives them all of the dominicans who steal power?
 
S

suarezn

Gold
Feb 3, 2002
5,823
290
0
55
dv8 said:
how about DR gives them all of the dominicans who steal power?
Click to expand...

Would that include the owners and managers of large corporations who have rigged their meters or have an "inside man" at EDEsomething so they don't have to pay what they consume as well? You know the ones who are really affecting the system due to very large consumption vs. the "little guy" with a couple of light bulbs a small TV and a fan...:confused:
 
D

dv8

Gold
Sep 27, 2006
31,266
363
0
suarezn said:
Would that include the owners and managers of large corporations who have rigged their meters or have an "inside man" at EDEsomething so they don't have to pay what they consume as well? You know the ones who are really affecting the system due to very large consumption vs. the "little guy" with a couple of light bulbs a small TV and a fan...:confused:
Click to expand...

all of them. to slave away on oil rigs in venezuela. make up for they stole, like.
 
C

Criss Colon

Platinum
Jan 2, 2002
21,843
191
0
38
yahoomail.com
Those "Poor Guys" in the barrios are powering a LOT MORE than a few light bulbs!
My barber has a split "AC", flat screen TV, Fans, lots of lights, "TODO"!
Pays, "NADA"!
The "POOR" run Everything 24/7, why not, they don't pay anything.
I paid 14,300 pesos plus, yesterday, for their pleasure.
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
 
P

playacaribe2

Gold
Jan 9, 2004
10,912
2,247
113
jabejuventus said:
I've always wondered why DR petrol is so expensive when the country is so subsidized????
Click to expand...

The DR primarily derives revenues from these sources;

1. Remittances; (control of the exchange rate)
2. Free trade Zones;
3. Tourism;
4. Exports (small but growing).

Despite those four areas, they consistently run a budget deficit.

This is primarily made up in a number of ways;

1. ITBIS (18%);
2. Taxes on gasoline (they also control the pump price);
3. Loans from the worlds alphabet soup agencies (IDB/IMF, etc);
4. Loans from countries (including subsidized oil from Venezuela).

Simply put, the price of gas is dictated by 1) RBOB gas; AND 2) the amount of taxes the current government feels they need to operate the country.


Respectfully,
Playacaribe2
 
C

Castle

Silver
Sep 1, 2012
2,982
1
0
suarezn said:
Would that include the owners and managers of large corporations who have rigged their meters or have an "inside man" at EDEsomething so they don't have to pay what they consume as well? You know the ones who are really affecting the system due to very large consumption vs. the "little guy" with a couple of light bulbs a small TV and a fan...:confused:
Click to expand...

While I agree big companies are to blame also, the figure of the little guy with a couple of light bulbs and a small TV seems off to me. First, that "little guy" might have just a few bulbs, but those bulbs are ON all the time, as well as his small TV. Same goes for fans, ON all the time, electric stoves used recklessly, etc. Multiply that by a few million and no matter how many large corporations you include they will never consume that much. So, while corporations must be fined (and with heavy fines), I think the time has come to stop feeling sorry for the "little guy" who does "little things" that are a "little wrong".
 
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Onions/Carrots

Bronze
Jan 3, 2003
1,310
175
63
If Venezuela were to demand cash on the barrel for future shipments, that would be the end of any gasoline in the DR. The DR burns all its money on the budget and they are still short having to make up for the deficit to the tune of 100 million dollars monthly. The DR has been bankrupt for a very long time and it is about time this charade and farce of an economy comes to an end. It's about time. The DR has been going on for too long believing that it is functional because 10% or less have gas guzzling SUVs and eat plenty of pork rind with Presidentes.

It has all been one huge lie. The DR has no means to pay for fuel nor has it any means to make up for that loss if Venezuela demands cash for oil. Just like the rest of us well those of us who pay in cash can not pay in pinto beans or pasta or similar crap the DR should be forced to pay in cash. It would be a wonderful wake up call to all the nonsense and hogwash that has been going on for too long in the DR. It would put a halt to all of the shenanigans since the country would collapse without fuel.

If I were the Venezuelan gov't I would renegotiate absolutely nothing. I'd tell the DR plainly and simply that from here on in it is cash on the barrel. No cash, no oil and as far as the past payments they would have to pay all of that within one year or else no oil until that is fully paid off. The DR better borrow all they can so they can keep the game going a bit longer. In the end though it will all end badly. The DR is going to zero as the currency shows. Next stop for the peso 50 with 100 not too far off once it gets religion forced down its throat from creditors who are themselves exhausted.
 
PICHARDO

PICHARDO

One Dominican at a time, please!
May 15, 2003
13,280
893
113
Santiago de Los 30 Caballeros
Nothing is going to happen!

Kumbaya.gif
 
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Onions/Carrots

Bronze
Jan 3, 2003
1,310
175
63
PICHARDO said:
Nothing is going to happen!
Click to expand...

Of course nothing is going to happen as long as every country and creditor out there continues enabling the DR to behave recklessly. The debt with Venezuela continues to grow. I remember when the debt was at 1 billion and now it is at 3 billion. It isn't even demanded in dollars but food that the DR is unable to pay on a timely basis. That mess will end badly. The DR can't pay in food shipments!! How messed up is the DR actually?

The debt with the energy distributors and generators continues to grow also. Now, it is at 850 billion every 6 months and growing. As the population continues to grow the energy subsidy also grows and it has. The currency is moving towards zero. It is at 40 and continues to slide. Next stop 50. But you stated it was going to 25. This will never happen. The Medina administration has added 1 billion to the national debt in less than 6 months. All this will pressure the peso to continue losing versus the dollar.

So as you can see and others plainly the future of the DR is bleak and will end in collapse. Whether you look at the electrical sector, financial services, currency, fuel and most any other metric you like the DR is deteriorating day by day and will end in a national collapse of its economy, its banking sector, its currency, the electrical system and fuel. Oh and before I forget water shortages which will test the DR's ability to supply a population that continues to grow and put pressures on its people and the ecosystem.

There is only failure on the radar screen of a gov't and a nation unable to reverse the tide of fatality and shortcomings. It will end in chaos and collapse.

P.S. Another indicator of DR collapse my new Robert-meter! When the owner of a site that caters to the DR and supplies info on the same states he will be spending alot of time in another country namely Colombia that goes a long way in telling you how much the DR has faltered. Actions speak louder than words. He can come on and state the contrary but his actions give a vote of no-confidence to the DR and the direction it is heading to.
 
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Expat13

Silver
Jun 7, 2008
3,255
50
48
Criss Colon said:
Those "Poor Guys" in the barrios are powering a LOT MORE than a few light bulbs!
My barber has a split "AC", flat screen TV, Fans, lots of lights, "TODO"!
Pays, "NADA"!
The "POOR" run Everything 24/7, why not, they don't pay anything.
I paid 14,300 pesos plus, yesterday, for their pleasure.
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
Click to expand...

I concur!!! Two Dominican Handymen I use are constantly bragging about how they have their A/C etc running 24/7 because lights are free for them as well their whole barrio. When I explain "someone has to pay for that" they disagree and say its the Government they are screwing who screwed them first so it harms no one! One even said energy(water dams/solar/wind etc.) is actually free and the government charges us for this free resource, so they take what is rightfully theirs... With this type of "no mi culpa" culture nothing will ever change here... You cannot teach common sense. Something in the Plantains I think:rolleyes:
 
F

Frank the Tank

Gold
May 12, 2005
8,564
271
83
Onions/Carrots said:
Of course nothing is going to happen as long as every country and creditor out there continues enabling the DR to behave recklessly. The debt with Venezuela continues to grow. I remember when the debt was at 1 billion and now it is at 3 billion. It isn't even demanded in dollars but food that the DR is unable to pay on a timely basis. That mess will end badly. The DR can't pay in food shipments!! How messed up is the DR actually?

The debt with the energy distributors and generators continues to grow also. Now, it is at 850 billion every 6 months and growing. As the population continues to grow the energy subsidy also grows and it has. The currency is moving towards zero. It is at 40 and continues to slide. Next stop 50. But you stated it was going to 25. This will never happen. The Medina administration has added 1 billion to the national debt in less than 6 months. All this will pressure the peso to continue losing versus the dollar.

So as you can see and others plainly the future of the DR is bleak and will end in collapse. Whether you look at the electrical sector, financial services, currency, fuel and most any other metric you like the DR is deteriorating day by day and will end in a national collapse of its economy, its banking sector, its currency, the electrical system and fuel. Oh and before I forget water shortages which will test the DR's ability to supply a population that continues to grow and put pressures on its people and the ecosystem.

There is only failure on the radar screen of a gov't and a nation unable to reverse the tide of fatality and shortcomings. It will end in chaos and collapse.

P.S. Another indicator of DR collapse my new Robert-meter! When the owner of a site that caters to the DR and supplies info on the same states he will be spending alot of time in another country namely Colombia that goes a long way in telling you how much the DR has faltered. Actions speak louder than words. He can come on and state the contrary but his actions give a vote of no-confidence to the DR and the direction it is heading to.
Click to expand...

With rampant crime and a falling peso (purchasing power) something will have to give. Do not be surprised if within 10 years there is another dictator like Trujillo. The pueblos will start clamoring for action and huelgas will increase. All it will take is a charismatic person will the will to institute real mano duro along with economic populism and he will be voted in a landslide. Trujillo used the 1930 hurricane to cement his power. What will the 21st century crisis be that leads the country to that point. Out of the failures of the left fascism will rise.
 
C

Castle

Silver
Sep 1, 2012
2,982
1
0
I don't think things are as well a Pichardo says, nor as bad as O/C says. Economies are faltering everywhere, and you see people talking about dictatorships, collapses, etc. Things are getting bad, but in my opinion are much better than in other places. Colombia? Yuck!
 
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