Prime Minister Dr. Keith Rowley cautions that potential issues with the Dragon gas deal could lead to financial difficulties for Trinidad and Tobago. He underscores the importance of securing energy agreements and warns against celebrating the project’s perceived failures. The future of the nation’s economy heavily depends on stable gas supplies, which are essential for maintaining critical services.
Prime Minister Dr. Keith Rowley has issued a warning regarding the potential repercussions of the Dragon gas deal with Venezuela. He expressed confidence in Trinidad and Tobago’s agreements but cautioned that a setback, such as the revocation of the U.S. license or Venezuelan restrictions, could result in a significant financial crisis for the nation.
Speaking at the Port of Spain General Hospital’s commemoration ceremony, he highlighted the importance of revenue for the operation of hospitals and schools. Rowley responded to claims about the failure of the Dragon gas project, encouraging a positive mindset and emphasizing the success of securing gas extraction rights with Venezuela amid geopolitical challenges.
Rowley pointed out that neglecting the importance of energy deals could lead to dire consequences for Trinidad and Tobago. He expressed concern that some individuals were celebrating the project’s perceived failure, while many others would be adversely impacted if the deal were to falter.
He noted the significance of obtaining a license from the U.S. Office of Foreign Assets Control (OFAC) while navigating sanctions against Venezuela, calling it a major achievement. Rowley warned the audience that losing the license or access would threaten the nation’s stability.
Furthermore, the Prime Minister reflected on the critical energy initiatives that have been secured, questioning where the country would be without them. He asked for consideration regarding the looming gas supply shortage and its implications on revenue, particularly for the Point Lisas industrial complex.
Dr. Rowley highlighted the fiscal realities facing Trinidad and Tobago, pointing to a national budget that allocates significant funds to individuals lacking other income sources. He noted that the country has grown reliant on government subsidies for various essential services, which would be jeopardized without a sustainable revenue stream. He cautioned that support from the IMF might come with stringent conditions, particularly affecting subsidies.
In conclusion, Prime Minister Dr. Keith Rowley has underscored the critical importance of the Dragon gas deal with Venezuela, warning that setbacks could lead to significant financial challenges for Trinidad and Tobago. He emphasized the necessity of sustaining energy initiatives for the nation’s economic stability and called for a collective positive mindset toward the project. Without secure gas supplies, the country could face severe implications on revenues and essential subsidies.
Original Source: trinidadexpress.com
