Guatemala paints itself into corner on Petrocaribe
Small countries like Guatemala hold little leverage in global energy markets; not surprisingly, Guatemalans are also strongly feeling the adverse effects of rising petroleum prices in their daily activities.
As the saying goes, good business trumps politics—and Guatemala proves the maxim true.
Although firmly opposed to acceding into the Petrocaribe agreement with Venezuela in 2008, President Otto Pérez Molina is now looking south to Petrocaribe for any possible relief. He is left with few choices.
Source: Americas Quarterly