ST. THOMAS -- Senate Vice President Janette Millin Young, who chairs the committee on Economic Development, Agriculture and Planning, said she obtained a clarification and confirmation letter of the operating agreement between the Government of the Virgin Islands and Limetree Bay Terminals, a subsidiary of ArcLight Capital Partners, LLC, that clarified language ensuring that fuel bought through Limetree Bay will be sold at a discounted price in the territory.
Mrs. Millin Young, who voted against the agreement because she said the new language regarding prices at the loading rack was non-binding at the time, lauded the development as timely in view of growing concern that Virgin Islands gasoline prices remain unchanged despite dropping oil rates.
The change in language came as a result of lobbying from Senator Kurt Vialet, who was unsatisfied with the vagueness of the prior wording, and demanded that it be clarified.
Mrs. Millin Young said she wrote Attorney Joel Holt, who represented the government in negotiations with Limetree on January 7, asking what steps were being initiated to incorporate the new language, which was presented by Capital Partners Director Evan Schwartz at the last operating agreement Senate session.
