The Caracas Chronicles cites a new Atlantic Council report, Uncertain Energy: The Carribbean’s Gamble with Venezuela:
I think the politics of the Caribbean basin are an important factor when analyzing Venezuela’s relationships with some of its antagonists in the first world. We’ve tried to address the importance of Venezuelan subsidies to the region’s economies, and even brought in a Caribbean analyst to spell it out for us. It’s a topic that still eludes us somewhat, but we should be mindful of it.
On this topic, I stumbled upon this compelling, in-depth report on PetroCaribe by David L. Goldwyn and Cory R. Gill of the Atlantic Council. Even though I disagree with some of the things it says – I think they underestimate the deep antagonism within the Venezuelan opposition toward the idea of continuing with the Petrocaribe subsidies – the main point is relevant to the events of the weekend: the US should be deeply concerned about the end of Petrocaribe. Any moves that might “rock the boat” will have severe economic consequences for the economies of the islands. This goes for Haiti, Cuba, or perhaps even Aruba (even though Aruba is not part of PetroCaribe, the refineries in the Netherland Antilles are an important source of employment for the islands’ inhabitants).