Plunge In Crude Prices
Delays Costa Rica's Bid to Petrocaribe
Costa Rica's bid to join Venezuela's Petrocaribe alliance, which
provides subsidized oil to Central American and Caribbean countries,
has been delayed by the plunge in crude prices, Costa Rican
President Oscar Arias said.
''I haven't heard of Petrocaribe for the last few months and don't
really know where it stands these days,'' Arias said. ``We need to
ask Chávez if is he's willing to continue with it.''
A 72% decline in oil prices since July has cast doubt upon
Venezuelan President Hugo Chávez's ability to sustain crude oil
subsidies for international aid programs. Venezuela, the biggest oil
exporter in the Americas, depends on oil for 93% of exports.
Chávez ''isn't as enthusiastic as in the past about trying to
broaden that program,'' Arias said.
Costa Rica applied for full membership after ministers attended a
Petrocaribe summit lastJuly.
Venezuelan Finance Minister Alí Rodríguez said Wednesday Venezuela
will maintain the program, continuing to provide aid to "brother
countries.''
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