Costa Rica Coffee Guide

Oil Could Help Nicaragua Seek Energy Independence

May 1, 2009

Dear Nica Times:

Regarding the article “Nicaragua signs energy accord with PetroVietnam” (TT Online, March 26), I agree that the Petroleos de Nicaragua CEO was right to sign this deal. I was a resident in Nicaragua for almost four years and I clearly understand the situation the country is living in.

Poverty has been increasing as the years pass, and a major issue for the country is a lack of energy independence.

It’s really sad seeing the poverty in Nicaragua, mostly because nobody does anything to decrease it.

One important reason why I think this deal was a success is that Nicaragua has never had any energy independence and now PetroVietnam has offered a solution to that. If the Nicaraguans don’t take this opportunity, when will there be another opportunity to finally have energy independence? Perhaps never.

The second important reason why I think Francisco López, the CEO, made this beneficial deal for Nicaragua is that PetroVietnam is offering technical assistance to small towns. Technical assistance can be important in Nicaragua because the Nicaraguans don’t know how to drill oil wells and develop oil fields. If the Nicaraguans can successfully develop the oil, it’s possible that the country can finally develop its economy.

Thirdly, this is a very important opportunity for Nicaragua to built a closer relationship with Venezuela. The project is being constructed with financial assistance from its close ally.

My only concern about the deal is that if the Nicaraguan government does not develop the technical and financial know-how, it could end up with oil but become more dependent on foreign countries to help develop their oil industry.

My suggestion is that Nicaragua should set up an institute of oil that can help develop its economy.

My second suggestion is that it form a new Nicaraguan oil company with money from the government and private sector. That way the new company can efficiently operate, while at the same time creating benefits for the whole country.

Carlos González

Escazú, Costa Rica

 

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