1stRambo
Gold Member
- Feb 8, 2015
- 6,221
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Yo, can`t wait to be without the everyday needs of the typical American!
"VIVA OBAMA!"
Commodity swap for Venezuelan oil offered by Trinidad and Tobago
A woman who just bought toilet paper at a supermarket reads her receipt as she leaves the private store in Caracas, Venezuela. Prices for essential goods have been rising dramatically in previous months. Source: AP
A COUNTRY that is running out of paper to wipe the population’s asses could have the perfect solution to lubricate trade with its neighbors.
Trinidad and Tobago has offered its Venezuelan neighbour a deal: Toilet paper in exchange for oil.
It sounds a little too good to be true for the Carribean country of 1.2 million people, with some labelling the deal “humiliating” for Venezuela.
But the South American country has no shortage of oil — and not that much of anything else at the moment.
First milk, butter, coffee and cornmeal ran short but now the country lacks sufficient supplies of many basic products.
Venezuela has the world’s second largest oil reserves behind Saudi Arabia and relies heavily on the natural resource. It makes up 95 per cent of the nation’s exports revenue and close to a quarter of gross domestic product.
So it’s no surprise it has been impacted by the global downturn in the price of oil. Amid a growing rate of inflation and a contracting economy, Venezuelans have been faced with widespread shortages of necessitates.
Trinidad and Tobago lies just off the North East coast of Venezuela and despite occasional tension over exploitation of cross border petroleum reserves, the countries have maintained a relatively amicable 50 year diplomatic relationship.
In a move demonstrating the clout of Trinidad and Tobago, President Kamla Persad-Bissessar proposed a commodity swap.
MORE: Venezuelan government takes over supermarket chain.
A woman waits in line to check out at the Dia a Dia supermarket. Source: AP
Speaking at a press conference earlier in the week following a meeting with the Venezuelan president, Ms Persad-Bissessar said such a deal would help both countries, reported Bloomberg.
“The Government of Trinidad and Tobago will purchase goods identified by the government of Venezuela from T and T’s manufacturers, such as tissue paper, gasoline, and parts for machinery,” she said.
In return, the president of the oil rich country, Nicolas Maduro, would ship bitumen and crude oil to the island nation.
However it’s been the humble dunny roll that has come to represent Venezuela’s ongoing crisis after the government “temporarily occupied” a toilet paper factory in September 2013, as stocks hit worrisome lows.
FROM THE PAST: Venezuela runs out of toilet paper, government vows to import 50 million rolls.
Venezuelan President Nicolas Maduro is struggling to keep an angry population under control. Source: AFP
Discussions over the trade came on the same day a 14-year-old schoolboy was shot dead in Venezuela during an anti-government protest.
While the exact circumstances around his death have been slow to emerge, last month the government enacted resolution 8610, which allows security forces to use lethal force to control public demonstrations.
The growing unrest has been spurred on by skyrocketing prices and massive queues in supermarkets as shoppers scramble to snatch up what they can.
The situation has become so problematic that earlier in the month the government took over privately owned supermarkets in order to control prices and crowds.
A demonstrator shouts slogans against Venezuela's President Nicolas Maduro as protesters block a road. Source: AP
It remains to be seen if the embattled Venezuelan president will be able to rein in the level of social dissent with the proposed swap with Trinidad.
But unless such a trade happens, the people of Venezuela will be left with very scarce supplies of — among other things — coffee, cooking oil, flour, sugar, milk and toilet paper.
News.com.au has contacted the Venezuelan Embassy for comment.
Trinidad and Tobago Venezuela trade deal proposal
"GTP"
"OBAMA IS DESTROYING AMERICA"
"VIVA OBAMA!"
Commodity swap for Venezuelan oil offered by Trinidad and Tobago
- FEBRUARY 28, 2015 6:58
A woman who just bought toilet paper at a supermarket reads her receipt as she leaves the private store in Caracas, Venezuela. Prices for essential goods have been rising dramatically in previous months. Source: AP
A COUNTRY that is running out of paper to wipe the population’s asses could have the perfect solution to lubricate trade with its neighbors.
Trinidad and Tobago has offered its Venezuelan neighbour a deal: Toilet paper in exchange for oil.
It sounds a little too good to be true for the Carribean country of 1.2 million people, with some labelling the deal “humiliating” for Venezuela.
But the South American country has no shortage of oil — and not that much of anything else at the moment.
First milk, butter, coffee and cornmeal ran short but now the country lacks sufficient supplies of many basic products.
Venezuela has the world’s second largest oil reserves behind Saudi Arabia and relies heavily on the natural resource. It makes up 95 per cent of the nation’s exports revenue and close to a quarter of gross domestic product.
So it’s no surprise it has been impacted by the global downturn in the price of oil. Amid a growing rate of inflation and a contracting economy, Venezuelans have been faced with widespread shortages of necessitates.
Trinidad and Tobago lies just off the North East coast of Venezuela and despite occasional tension over exploitation of cross border petroleum reserves, the countries have maintained a relatively amicable 50 year diplomatic relationship.
In a move demonstrating the clout of Trinidad and Tobago, President Kamla Persad-Bissessar proposed a commodity swap.
MORE: Venezuelan government takes over supermarket chain.
A woman waits in line to check out at the Dia a Dia supermarket. Source: AP
Speaking at a press conference earlier in the week following a meeting with the Venezuelan president, Ms Persad-Bissessar said such a deal would help both countries, reported Bloomberg.
“The Government of Trinidad and Tobago will purchase goods identified by the government of Venezuela from T and T’s manufacturers, such as tissue paper, gasoline, and parts for machinery,” she said.
In return, the president of the oil rich country, Nicolas Maduro, would ship bitumen and crude oil to the island nation.
However it’s been the humble dunny roll that has come to represent Venezuela’s ongoing crisis after the government “temporarily occupied” a toilet paper factory in September 2013, as stocks hit worrisome lows.
FROM THE PAST: Venezuela runs out of toilet paper, government vows to import 50 million rolls.
Venezuelan President Nicolas Maduro is struggling to keep an angry population under control. Source: AFP
Discussions over the trade came on the same day a 14-year-old schoolboy was shot dead in Venezuela during an anti-government protest.
While the exact circumstances around his death have been slow to emerge, last month the government enacted resolution 8610, which allows security forces to use lethal force to control public demonstrations.
The growing unrest has been spurred on by skyrocketing prices and massive queues in supermarkets as shoppers scramble to snatch up what they can.
The situation has become so problematic that earlier in the month the government took over privately owned supermarkets in order to control prices and crowds.
A demonstrator shouts slogans against Venezuela's President Nicolas Maduro as protesters block a road. Source: AP
It remains to be seen if the embattled Venezuelan president will be able to rein in the level of social dissent with the proposed swap with Trinidad.
But unless such a trade happens, the people of Venezuela will be left with very scarce supplies of — among other things — coffee, cooking oil, flour, sugar, milk and toilet paper.
News.com.au has contacted the Venezuelan Embassy for comment.
Trinidad and Tobago Venezuela trade deal proposal
"GTP"
"OBAMA IS DESTROYING AMERICA"
