US Cautions Bahamas over Accelerating Economic Ties with Venezuela
The US Embassy has cautioned The Bahamas on accelerating its economic ties with Venezuela in an effort to obtain cheaper oil.
Alex Sokoloff, Political and Economics Officer in Nassau, says oil is a commodity, and as such it will sell for whatever the market is demanding. There is “no such thing as cheaper oil.
Instead, he noted that a more likely scenario is either a long-term credit burden or other political strings attached to any deal.
He says the Bahamas should be looking at bringing in sustainable renewable energy solutions much sooner.
Sokoloff says, once you invest in renewable energy, you invest in infrastructure. It is there and will not go away.