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And so who will fill that space? Who would best be to fill that? And what I want you to think of, I am being a bit jaded here. I believe I would like to see an American business can be found in there and fill that void. How would you see that occurring and what would you suggest? We will start with you, Ms. Yearwood. Ms. Yearwood. Thank you, Mr. Yoho. I think that the U.S. is well positioned to fill the space in the occasion that Venezuela is no longer able to provide through the Petrocaribe program. I believe the surplus gas, I think the growth of clean and eco-friendly energy, the area is really at a crossroads in regards to transitioning to tidy and sustainable energy whether its solar or wind.

One of the concerns, for instance, is OPEC has a large quantity of financial investment in the Caribbean in the energy location. However there are two problems. The size of the marketplaces in the smaller sized nations of the Caribbean don't always enable them to get OPEC funding or actually have the ability to assemble a great plan for OPEC financing, and the 2nd point is absence of expediency research studies (Why are you interested in finance). How do you finance a car. OPEC does not make grants and it does not do feasibility studies therefore there is a lot of legwork that needs to be performed in order bring some of this new innovation into the space.

Yoho. Exists any private collaborations, private-public partnerships or NGOs that you would advise that would be finest suited, you understand, with the oil companies and, you understand, among our think tanks up here? Ms. Yearwood. I would suggest Eric. No. Mr. Yoho. You need to like that. Is that a segue you wish to-- Ms. Yearwood. No, I think there are a lot of entities in the U.S. that are dealing with energy in the Caribbean. Mr. Yoho. Okay. And I guess my concern is we can't stress over what occurred in the past over the last 20 or thirty years.

And I understand our sensations are we don't want to tell you how to live, we simply wish to be good trading partners with you, however assist become strong trading partners where we establish an economic base in your nations. And with the impact of China, all my life China was sort of an adolescent, however in the last, say ten years, I have actually seen them turn into adolescence and they have a great deal of money and they are starting to feel the results of their testosterone. And we have seen that in the South China Sea, however we have seen the financial investments they have performed in the Caribbean, you know, in the Bahamas-- I think it was $3 \ 1/2 \ billion-- http://charlielnxa907.almoheet-travel.com/8-simple-techniques-for-what-does-it-mean-to-finance and what they have actually performed in Panama and Honduras and all that.

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I just believe there are better partners that we can have and I think that would come from the excellent ol' U.S. of A. And so policies that you would assist direct us, you understand, whether it is ag, energy, simply merchandise trade, what would you suggest, Mr. Farnsworth? Mr. Farnsworth. Well, Mr. Yoho, thank you for the concern. And let me make a quick footnote on the China issue, first, if I can. You know, China's engagement in the Caribbean-- and Ambassador Bernal is the true professional on this. I don't wish to step on your toes. However it is different in the Caribbean than it remains in South America, for instance, where it is much more industrial, it is far more commodities based.

You still have the Browse this site political competition with Taiwan in parts of the Caribbean and Central America, et cetera, et cetera, so we need to keep in mind that part of the aspect too. In regards to the energy relationship, one of the selling timeshares in florida things we are gaining from the reforms in Mexico is it is not just oil and gas drilling, for instance. Everybody focuses on that in the majors in the deepwater in the Gulf of Mexico and when is the next quote round and all that. However what it is much more impactful in Mexico is the power grid, the electricity, and when that secures free up the expense of electricity comes down and that is truly helpful for the consumer.

Therefore if you can bring that expense to the customer, firstly, you have more non reusable earnings to invest in other things, however likewise it ends up being a far more competitive business platform to begin to produce and so that begins to bring investment, which right now is more minimal due to the fact that once again on the size of the economy. So if there is one aspect that might truly be focused on, you understand, it is not let's continue to import filthy diesel fuel and a few of the really unclean contaminants that Venezuela is supplying - What does nav stand for in finance. Let's assist convert the Caribbean to a clean energy power grid that can be used far more efficiently that where the cost of electricity can boil down and make the whole region a much more competitive efficient platform which will help their economies long term.

Mr. Yoho. And I value it. And I am out of time, however I eagerly anticipate dealing with you in the future so that we can prepare legislation to assist strengthen the existence of America there, and I believe everyone wins in that situation. And I yield back, Mr. Chairman. Mr. Duncan. Thank you. We are then joined by Ambassador Bernal. Thanks for coming. I am sorry about the DC traffic and probably intensified by the DC heat. However we are going to go ahead and acknowledge you for 5 minutes for an opening statement. STATEMENT OF HIS EXCELLENCY RICHARD BERNAL, PRO-VICE CHANCELLOR FOR GLOBAL AFFAIRS, UNIVERSITY OF THE WEST INDIES IN JAMAICA Mr.

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Thank you, Mr. Chairman, my apologies for being late. I left my house at 3 o'clock a. m. today. I was going well up until the Falun Gong had a presentation on Constitution Opportunity. I will very briefly summarize my verbal statement which is that I believe this is an important time for the U.S. to re- analyze its policy towards the Caribbean and to take a new strong initiative in the Caribbean; because, the Caribbean has actually been having a really tough time because the global recession; a combination of long term structural institutional aspects along with some brief term cyclical factors, such as oil rates.

and for Jamaica since the U.S. is the main and largest trading partner and main source of investment and tourists. It is in the interest of the U.S. to have a flourishing, peaceful, and democratic Caribbean. In that regard I focus on the financial issues, because I think the financial issues impinge on all the other concerns which are necessary such as governance, democracy, anti-narcotics campaigns. I have actually identified six concerns which I believe require to be resolved. The very first problem which I think requirements to be addressed is the debt situation. The Caribbean countries have actually ended up being some of the most highly indebted countries worldwide.