Saturday's (December 17, 2005) Miami Herald story confirms The Nassau Institute position.
See: Miami Herald News/World/Americas.
"CARIBBEAN COMMUNITY CRITICIZES OIL DEAL"
"GEORGETOWN, Guyana -- The head of the Caribbean Community said Friday that member nations were too quick to join an oil trading program launched by Venezuelan President Hugo Chávez.
Edward Carrington, secretary general of the 15-nation CARICOM, said member nations should have taken more time to consider the implications of joining Petrocaribe and negotiated a regional response to the sharp rise in the price of oil.
Carrington said the deal has angered Caricom member Trinidad and Tobago, which has historically been a major oil supplier in the Caribbean, and that some ministers didn't understand the details before signing the agreement in September.
Carrington, citing Jamaica, also said some countries have cut their initial payments for oil but must acquire additional debt to cover the costs."
