At a PetroCaribe ministerial meeting in Nicaragua in October, officials from the countries involved in the Venezuela-sponsored initiative concluded agreements on more than $16 billion in new investment, EFE reported. The agenda also sought to expand the scope of PetroCaribe beyond just preferential oil purchases, including possible projects addressing electricity, renewable energy and food security. What is the reasoning behind the expansion into projects beyond the initiative's original scope? How much of a benefit has PetroCaribe been to its signatories? Is PetroCaribe achieving Venezuela's political aims, and will it take on increasing importance over time?
Inter-American Dialogue's Latin American Energy Advisor. "Will PetroCaribe Expand Beyond Preferential Oil Purchases?." (2011). http://digitalrepository.unm.edu/la_energy_dialog/88