A COUNTRY that is running out of paper to wipe the
population’s backside could have the perfect solution to lubricate trade with
its neighbours. Trinidad and Tobago has offered its Venezuelan neighbour a
deal: Toilet paper in exchange for oil. It sounds a little too good to be true
for the Carribean country of 1.2 million people, with some labelling the deal
“humiliating” for Venezuela. But the South American country has no shortage of
oil — and not that much of anything else at the moment. First milk, butter,
coffee and cornmeal ran short but now the country lacks sufficient supplies of
many basic products. Venezuela has the world’s second largest oil reserves
behind Saudi Arabia and relies heavily on the natural resource. It makes up 95
per cent of the nation’s exports revenue and close to a quarter of gross
domestic product. More… 
Tuesday, March 3, 2015
Commodity swap for Venezuelan oil offered by Trinidad and Tobago
A COUNTRY that is running out of paper to wipe the
population’s backside could have the perfect solution to lubricate trade with
its neighbours. Trinidad and Tobago has offered its Venezuelan neighbour a
deal: Toilet paper in exchange for oil. It sounds a little too good to be true
for the Carribean country of 1.2 million people, with some labelling the deal
“humiliating” for Venezuela. But the South American country has no shortage of
oil — and not that much of anything else at the moment. First milk, butter,
coffee and cornmeal ran short but now the country lacks sufficient supplies of
many basic products. Venezuela has the world’s second largest oil reserves
behind Saudi Arabia and relies heavily on the natural resource. It makes up 95
per cent of the nation’s exports revenue and close to a quarter of gross
domestic product. More… 
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