Trinidad and Tobago’s Prime Minister, Dr. Keith Rowley, has warned of serious economic consequences if the Dragon gas deal with Venezuela fails. He emphasized the importance of energy agreements for financial stability and underscored the potential risks posed by geopolitical issues such as U.S. sanctions. Rowley cautioned citizens against celebrating setbacks in this critical arrangement.
Prime Minister Dr. Keith Rowley cautioned that Trinidad and Tobago could face significant challenges if the Dragon gas deal with Venezuela deteriorates. During a recent ceremony marking the completion of the Port of Spain General Hospital’s Central Block, he expressed confidence in existing agreements but warned that a revocation of the U.S. license for the Dragon deal or Venezuela’s refusal to provide gas could result in fiscal calamities for the nation.
Rowley criticized the opposition’s claims of failure regarding the Dragon gas project, likening support for the project to cheering for one’s team in a game. He stated that Trinidad and Tobago should remain optimistic about the deal, as its success is essential given the depletion of domestic gas resources. He underscored the importance of energy agreements for sustaining the nation’s economy.
The Prime Minister emphasized the precarious nature of securing agreements amid geopolitical tensions, particularly U.S. sanctions against Venezuela. He marked the acquisition of a license from the Office of Foreign Assets Control (OFAC) as a significant triumph vital for the country’s future and warned against celebrating potential setbacks in the agreement.
Rowley discussed the potential consequences of failing to secure energy initiatives, questioning the implications of the country running out of gas. He highlighted the dependency of its revenue stream on the Point Lisas complex and noted that insufficient gas supply could disrupt the national budget and services dependent on governmental subsidies.
He acknowledged the potential for emergency funds from the IMF but pointed out the strings attached, such as the likely removal of existing subsidies. The Prime Minister’s message urged citizens to appreciate the energy advancements made and recognize the dire consequences should these initiatives falter.
In summary, Prime Minister Dr. Keith Rowley has expressed grave concerns regarding Trinidad and Tobago’s reliance on the Dragon gas deal with Venezuela. He warned of potential economic ramifications if the deal collapses while urging national support for the project. Rowley also acknowledged the significant challenges posed by geopolitical dynamics and the necessity of maintaining energy supply to sustain the nation’s financial stability, alongside the implications of potential IMF conditions on subsidies.
Original Source: www.stabroeknews.com
