Oil pact criticised
Caribbean countries will violate Caribbean Community rules if they take advantage of an oil pact they signed with Venezuela promising fuel on easy terms, the leader of Barbados said.
Thirteen Caribbean countries joined PetroCaribe, an initiative begun by Venezuelan President Hugo Chavez, to help them withstand the shock of record-high oil prices.
But according to a 1973 treaty, the Caribbean Community Secretariat must certify that the pact does not put other members at a disadvantage.
Both Barbados and Trinidad say the treaty puts them at a disadvantage and they have refused to join.
Barbados Prime Minister Owen Arthur on Tuesday said the pact only hurts the interests of Trinidad, which provides 50,000 barrels of oil per day to the region, and suggested that PetroCaribe be amended to allow Trinidad to process Venezuelan oil.
None of the signatories has yet taken advantage of the pact. But if any do, they will violate community rules, because the secretariat has not approved it, Arthur said.
