Did Barbados Prime Minister Borrow Money To Lower Gasoline Price?

Mortgaging The Future Again?

According to Barbados Free Press reader Littleboy56, the “big announcement” at the BLP meeting last night was A gas price reduction of about $1.00 Barbadian currency. Much ado about nothing!!! It was a diversionary tactic by a governing party that is becoming more and more unpopular by the day…”

Never mind whether this lowering of the price of gasoline is a cynical political “diversionary tactic” or a well-meant but flawed attempt to reduce energy costs to the average Bajan – Barbados Free Press wants to know how the Prime Minister accomplished this magic? Did he reduce the gasoline tax at the pump – which is borrowing against the national debt?

Or… did Prime Minsiter Owen Arthur strike a deal to borrow new money – this time from Chavez and Venezuela?

Either way… Ain’t nothin’ be free, folks!

Once again, your grandchild will still be paying decades from now for this week’s tank of petrol. Thanks, Owen!

Owen Arthur Barbados Government Financial Planning:

a/ Tax the people to death.

b/ Enslave future generations by borrowing and increasing the National Debt

c/ Sell off pieces of the nation to keep afloat a little while longer.

From The Nation News a few days ago…

PM nudges Chavez

PRIME MINISTER OWEN ARTHUR is hopeful that the price of gasoline will come down.

Speaking at the Barbados Labour Party’s St James South branch meeting on Sunday at West Terrace Primary School, West Terrace, St James, he said that Barbados could benefit from the “discounted prices” Venezuelan President Hugo Chavez said he was offering another country.

“If Mr Chavez could be persuaded, and do for us that which he is now walking about saying he is doing for America – he is offering people discounted prices on the gas, and then we have to buy the gas at market price.

“Discount the price for us too; we’ll be happy to get the gas from there,” Arthur said.

…The PetroCaribe deal, which Barbados and Trinidad and Tobago have declined to sign, is allowing CARICOM states to buy Venezuelan oil at market prices but pay for some of it with a long-term plan at low rates of interest.(full article here)

17 Comments

Filed under Barbados, Business & Banking, Politics & Corruption

17 responses to “Did Barbados Prime Minister Borrow Money To Lower Gasoline Price?

  1. Economix

    TWO things yuh doan’ credit…
    Cigarettes and gasoline.

    – both gyne up in smoke!

    Gasoline on credit?
    – to whose benefit?

  2. Colonial mindset

    I am very suspicious.Let’s review the recent history of gasoline cost. it was $1.45,got bounced up to $1.65,then it leaped to $2.10,soon after $2.30 to justify dealers get a small raise, then $2.46. Now Bruggadung Cadogan it falls off the Central Bank bldg all the way to $1.46. something rotting in the state of Barbados.Someone pls explain how this is possible with crude still up, around US$61-62/bbl today Oct2nd.06

  3. “Bruggadung Cadogan” hahah, i love good ol’ bajan slang when its spelled out.

  4. Hants

    I am curious about this Gas price situation and I was happy my Bajan brethren were going to be saving so much on Gas.

    What I can’t figure is this.

    The price below of $2.33US per gallon is $4.66 Barbados a Gallon.
    If Gas in Barbados is selling at 73cents US a gallon that is amazing.Where is this super cheap gas coming from?

    ” Gas prices have dropped 17% in the last month in large part because of a sharp decline in oil costs. The nationwide (USA) average price for a gallon of regular gasoline was $2.332 Friday, according to motor club AAA.

  5. Carl Moore

    Petrol prices here go up by the litre and come down by the gallon. When they go up, a minister makes the announcement from the television; when they come down the minister makes the announcement at a political meeting! Cute.

  6. Green!

    Elections soon.
    Sooner than you think.

    Proof?
    1. Roads getting reeel nice.
    2. Gas price coming down,out of the blue!

    so..Merry Xmas!

    Look for it perhaps as soon as b4 Xmas
    or maybe just after,in the new year
    (yes, b4 Cricket-07).

    Bam-so – sudden.

  7. Colonial mindset

    Maaaaan,..
    I wuz wrong.
    I hear gas down by a dollar
    – riiiiight!

    CHEAP TRICKS!
    In a country where we went Metric decades ago, why would politicians resort to boasting of reductions in a quantum measure(GALLON!)
    that would mek it sound like a big reduction,
    rather than a mere few cents per LITRE??-which is how the reduction should have been quantified?
    Just think how impressive the reduction woulda sounded, if it had been stated Per Tanker-load!
    Once again, I’m a victim of politricks.
    Sorry,guys.

  8. Royalrumble

    I know how much this reduction in gas price must hurt you Dems. You know you all hate when good things are happening for Barbadians. It seems as though you all would like to see us remain in the same state that you all left us in the early 1990’s. That is why you all have this great suspicion about the fall in gas price. Maybe you should all retreat to George Street where you can all wonna wounds.

  9. Rumplestilskin

    Any half-wit regardless of political persuasion would acknowledge that a disclosure at a meeting is to gain a few cheap political points.

    Why did Government not take the opportunity to answer critical issues that are at the core of the questions surrounding the Government expenditures?

    Cheap political tricks
    Just like those old
    Licks in 76 and other limericks
    Making tings sound like gold

    But then, the public like those things……corn beef an’ biscuits…yessum…

    Whats your wish, are you
    Goin wid Owen?
    Riding high wid Clyde?
    Thingin’ all the smokescreens are true
    Cyan see them back and forth , slide

    Loadsa fun, huh?

  10. Max

    Green!

    Look at the bigger picture…. everything have a ripple effect. We only looking at the surfaces

    1. Roads looking nice but what about drainage….. if the rain falls…someone will get splash or traffic slows down because of the large puddles of water.

    2. Gas prices down but we still in looooooooooooooonnnnnnnnnngggg everyday to get to where we going by the time ya reach ya stop ya done burn an extra $5.00 in fuel both am and pm. Add it up by 5 days a week………$50.00 … where the savings……………………….

  11. Colonial mindset

    My ‘suspicions’ (see above) were back in the time when I erroneously thought the reduction in gasoline prices was on the order of $1 per LITRE.
    Later, I found out it was a few cents per litre, (“HOW Gallons get in DIS??”)..
    in other words a routine decrease, nothing to worry about. I’m now not particularly suspicious at all, given that Crude Oil prices are “down” – around US$60 a barrel, in tune with this recent few-cents reduction

  12. Green!

    Drainage? ‘Sunny Barbados’ duzn’t need drainage!
    We only need drainage when the rain falls!
    What drainage talk is this?

    Bajans traffic slows down when it rains becoz Bajans are taught to pass the driving test(not to Drive!)
    from a position of Fear!
    A St.Lucian lady and I were discussing the abyssmal local driving skills and attitudes,
    and she commented that Bajans drive “like something IS gonna happen”.

    How do ppl manage to drive ‘at that rate’ in countries like Wales and Ireland, where roads are eternally wet?
    Maybe they’re not afraid of their own shadow.

  13. bigman175

    Royalrumle you will have to be a madman to tell Barbadian that theDEMS do this and that when your BLP know fullwell that the oil price came down month ago so when your BLP try to fool Barbadian.

  14. Green!

    RoyalRumble and the Bees
    are a little nervous at this time,BigMan175!

    Elections coming soon,
    the electorate are in an unpleasant mood,
    and then there are these goddam blog-sites saying..broadcasting just whatever they please to counteract the careful propagandistic brainwashing.

    Suppose we woke up next morning to The Unthinkable…
    ..that there has been a change in Government.
    Such democratic process is simply intolerable!

    You ned to understand that Bajan Politrix is about PERCEPTIONS
    – it’s NOT about logic and reason and neccessity,like you and I think it is,or should be.

    Spin Doctors are busy at work ‘all now soah’
    guiding the masses of asses towards the polling booths
    and the right square to put-in wunnuh X.

  15. honeybee

    Green! you may find that the Spin Doctors are guiding the “masses of asses”, us, away from the polling booths. I hope I am wrong.

  16. Jerome Hinds

    BFP and fellow readers,

    This how the ” Great Economist ” Owen Arthur has barbados ranked GLOBALLY…!

    Countries with the LARGEST Deficits as % of GDP.

    %
    1. Iraq – 96 .9

    2. Mauritania – 36 .2

    3. Azerbaijan – 30 .4

    4. Bosnia – 22 .5

    5. Lebanon – 22 .0

    6. Equatorial Guinea – 21 .9

    7. Nicaragua – 17. 0

    8. Belize – 16.7

    9. Estonia – 12 .7

    10. Suriname – 12 .4

    11. Latvia – 12 .3

    12. BARBADOS – 12 .0

    Readers would find it INTERESTING note that ZIMBABWE comes in at

    Number 23 with – 8 . 3

    Source of Information : The Economist : Pocket world in figures 2007.

    So the great Economist Owen Arthur has PUT Barbados ( the only top ranked English speaking country ) among the list of world nations….with the largest deficits as % of GDP….!

    That is the WORLD CLASS ranking Owen Arthur often tells Barbadians to ASPIRE too..!

    Can his MINNIONS…..Royalrumble , Javon Griffth and ??……DENY this…?

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