Prime Minister Rowley Warns of Economic Threat from Dragon Gas Deal

Prime Minister Dr. Keith Rowley warns that Trinidad and Tobago’s financial stability depends on the Dragon gas deal with Venezuela. Any loss of licenses or gas access could lead to a severe economic crisis. He emphasizes the importance of energy agreements for sustaining public services and cautions against celebrating negative outcomes regarding the deal.

The Prime Minister of Trinidad and Tobago, Dr. Keith Rowley, has issued a stark warning regarding the potential ramifications of the Dragon gas deal with Venezuela. He expressed confidence in the country’s agreements but cautioned that the revocation of the U.S. license or Venezuela’s refusal could lead to significant financial difficulties for the nation. Rowley made these remarks during the commemoration ceremony of the Port of Spain General Hospital’s Central Block completion.

Rowley emphasized the importance of energy deals for sustaining essential services such as healthcare and education, which depend on revenue. He addressed claims by an opposition member regarding the failure of the Dragon gas project, urging public support and positivity around the deal’s prospects. He underscored the necessity of securing Venezuela’s agreement to extract gas, achieved under challenging geopolitical circumstances.

The Prime Minister articulated that losing the OFAC license or access to the Dragon gas field would lead to economic hardship, stating, “If you see us losing that OFAC licence… then you know that your coo coo is cooked.” He highlighted the significance of strong leadership in navigating these challenges and securing agreements beneficial to the economy.

Rowley raised concerns about future energy supply, asking, “What happens when the gas runs out?” He noted that Trinidad and Tobago’s revenue stream heavily relies on gas production, with substantial funds from the national budget directed towards citizens dependent on government subsidies. He acknowledged potential financial assistance from the IMF but warned it would come with stipulations that could impact existing subsidies.

In summary, Prime Minister Dr. Keith Rowley stresses the critical importance of the Dragon gas deal with Venezuela for Trinidad and Tobago’s economic stability. He warns that the revocation of essential licenses or loss of gas access could lead to severe financial consequences. Rowley’s remarks highlight the country’s reliance on energy revenue to sustain public services and the need for continued support of such initiatives to avert economic difficulties.

Original Source: trinidadexpress.com