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World oil prices continue to fall and it's putting a hurting on Venezuela which depends on oil for 95% of its foreign exchange earnings. And while that specter of social unrest threatens that country, the US Government is seizing upon the opportunity to regain some imperial footing in its own back yard.

On Monday in Washington, Vice President Joe Biden invited Caribbean leaders to talk about energy security. The US wants the region to move away from Petrocaribe, decrease its reliance on oil and focus on alternative energy sources such as solar.

According to US News reports, Biden offered US assistance – with strings attached. He said, quote, "First and foremost, you have to deal with corruption…You need to be choosing projects because they are the most competitive, not for other reasons…we're not going to waste money. We're going to insist on considerably more transparency…" And referring obliquely to Petrocaribe, he added, quote, "We're not here to replace one flawed financing scheme with another."

According to news reports, "Caribbean leaders agreed to pursue comprehensive and diversified energy programs, including the introduction of cleaner forms of energy." Belize was represented by Senator Joy Grant, the Minister of Science, Energy and Petroleum.

And while the US is trying to lure the Caribbean away from the Petrocaribe arrangement, it's not going to be easy. Because even though oil prices are down which means Petrocaribe proceeds are less, for Belize, even with oil at $50 dollars a barrel, Belize pays only $30 dollars, or 60% of the bill up front with $20 converted to a long term loan.