Trinidad PM Warns of Consequences if Venezuela Gas Deal Fails

Prime Minister Dr. Keith Rowley has issued a warning regarding the potential ramifications for Trinidad and Tobago if the Dragon gas deal with Venezuela fails. He expressed confidence in existing agreements but cited concerns about possible U.S. sanctions and its implications for the country’s revenue streams. Rowley stressed the importance of energy initiatives and the need for public support to safeguard the nation’s economic future.

Prime Minister Dr. Keith Rowley of Trinidad and Tobago has cautioned that the country may face significant challenges if the Dragon gas deal with Venezuela does not proceed successfully. During a recent ceremony for the completion of the Port of Spain General Hospital’s Central Block, he expressed confidence in the nation’s agreements but emphasized potential dire consequences if the United States revokes the license for the Dragon deal or if Venezuela restricts gas access.

Rowley addressed concerns over the Dragon gas project, referencing claims of its failure by an Opposition member. He urged citizens to support the project positively, as it represents a vital source of energy for the nation whose resources are dwindling. He stated, “So I am asking the rest of you to send your telepathic power to overcome this negative nonsense about the failure of the Dragon deal.”

The Prime Minister highlighted the significance of securing Venezuelan cooperation for gas extraction, particularly in light of geopolitical tensions and U.S. sanctions against Venezuela. He warned that such sanctions could jeopardize the Trinidad and Tobago economy, saying, “Sanctions by one country against another country could have the effect of destroying our economy.”

Underlining the importance of stable leadership, Rowley remarked on the achievement of obtaining a license from the Office of Foreign Assets Control (OFAC), which is crucial for conducting business amid U.S. restrictions. He asserted that losing this license would signal serious trouble for the nation: “If you see us losing that OFAC licence… then you know that your coo coo is cooked.”

Rowley continued to stress the importance of energy initiatives by questioning the future of Trinidad and Tobago without them. He emphasized that without sustained energy supply, essential services financed through revenue could be at risk, warning, “It will be running out along the way until, by the eighth or ninth year, it’s gone.”

He pointed out that the national budget allocates significant funds to support citizens with limited incomes and cautioned that reliance on International Monetary Fund (IMF) assistance would entail difficult conditions, including the potential removal of subsidies. This showcases the delicate balance needed to maintain the country’s fiscal health.

In summary, Prime Minister Dr. Keith Rowley has underscored the critical nature of the Dragon gas deal with Venezuela for Trinidad and Tobago’s economic future. He highlighted the potential consequences of geopolitical shifts and energy resource depletion, calling for unity among citizens to support this vital initiative. As the country navigates these challenges, Rowley’s remarks serve as a stark reminder of the fragility of energy dependence and fiscal stability in a changing global landscape.

Original Source: www.stabroeknews.com