Prime Minister Dr. Keith Rowley has warned that Trinidad and Tobago could face severe fiscal challenges if the Dragon gas deal with Venezuela fails. He highlighted the importance of energy agreements for national revenue and the potential consequences of geopolitical shifts. Rowley urged citizens to focus on positive outcomes from energy initiatives as the country confronts dwindling gas reserves.
Prime Minister Dr. Keith Rowley has issued a caution regarding the potential ramifications of the Dragon gas deal with Venezuela. He emphasized that Trinidad and Tobago would face significant fiscal challenges if the United States revokes the approved license for this agreement or if Venezuela denies access to the gas. Despite expressing confidence in the nation’s agreements, he noted that such outcomes could lead to a disaster in meeting national expenses.
During a ceremony for the Port of Spain General Hospital’s Central Block, Dr. Rowley reflected on the importance of revenue for public services such as hospitals and schools. He referenced criticisms from an Opposition member about the Dragon gas project, encouraging citizens to focus on positive outcomes rather than negativity. He stressed the necessity of supporting successful energy ventures, especially as domestic gas reserves dwindle.
Rowley warned that without securing energy deals, the nation could encounter severe issues. He expressed concern over individuals celebrating potential failures of the Dragon deal while cautioning that those who have prepared financially would not suffer, unlike many citizens who might struggle without such preparations. Securing Venezuela’s permission for gas extraction should be a cause for national pride, especially amid changing geopolitical conditions.
The Prime Minister elaborated on the challenges tied to U.S. sanctions against Venezuela, highlighting that strong leadership is essential for navigating the intricacies of international energy agreements. He remarked on the importance of maintaining respect within economic partnerships to secure beneficial outcomes for Trinidad and Tobago’s future. A loss of the Office of Foreign Assets Control (OFAC) license would signal dire consequences for the country’s financial stability.
Rowley noted active gas extraction collaborations between Trinidad and Venezuela, including Shell’s operations in the Manatee field. He urged citizens to refrain from rejoicing at signs of failure in gas deals and questioned where the country would stand without successful energy initiatives. He illuminated the potential crisis as the gas supply diminishes over time, undermining revenue streams crucial for funding government services.
He highlighted the significant budgetary allocations for social programs in Trinidad and Tobago that rely heavily on consistent energy revenues. Rowley also indicated that while the International Monetary Fund (IMF) could provide financial support, it would come with stringent conditions, including reductions in government subsidies, ultimately affecting essential services for citizens.
In summary, Prime Minister Dr. Keith Rowley has alerted the public about the potential risks associated with the Dragon gas deal with Venezuela, identifying significant fiscal challenges that could arise from geopolitical shifts. He underscored the importance of securing energy agreements for the nation’s economic stability, while warning against negative sentiments toward such ventures. Rowley emphasized that Trinidad and Tobago’s future relies heavily on successful energy extraction initiatives, as the nation navigates diminishing domestic gas supplies and potential repercussions from the U.S. sanctions on Venezuela.
Original Source: trinidadexpress.com
