The Petrocaribe Agreement faces Crossroads

Previously I said that in fact, we know little of the implications that come out of Guatemala's involvement in Petrocaribe.

What are the known facts? Guatemala will buy low quality dieasel, (High sulfuric content, something that makes me wonder what Environmental & Natural Resources Ministry's director, Dr. Luís Ferraté, would have to say bout its environmental impact on Guatemala City ). The Diesel will be bough through credit and will have to be payed in 25 years. This, is obviously means a massive debt, one that has the potential of becoming the biggest Guatemala has ever gotten itself into. The view becomes bleaker when adding the nations budget deficit, fact that has been pointed out by the nations Monetary Council.

Once again, its not the size of the debt, but our ability to pay it in the not so far off future.

The speed at which this whole agreement has been managed, has been a little too fast. Earlier this week we could apreciate a slight drop in WTI Crude oil prices and an increase in American business indicators, showing how the economic crisis is not eternal and that we have to learn to re/adequate our daily fuel consumption as well as prioritize our needs in relation to global markets.