NewsWhore
02-09-2012, 11:50 AM
If the price of oil averages out at US$95 a barrel this year, the Dominican Republic will have to pay close to US$5.4 billion to keep the country supplied with fuel. At present, the country is importing 154,000 barrels of oil and its derivatives a day, at a cost of US$14,630,000. During the last months of 2011 and the first month of this year, the price of oil was at or over US$100. During the first week of February it was over US$95, and because this is a leap year, with 366 days, the country will have to pay an additional US$14.6 million. According to El Nuevo Diario, when oil prices hit US$147 a barrel in 2008, the world entered into a recession and the cost of importing oil has been the biggest burden that the government has had to bear over the past decade. According to the newspaper, the country does not have the energy resources needed to meet its development demands.
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More... (http://www.dr1.com/index.html#6)