COLLAPSE OF DRAGON GAS AND THE WHOLE BLINKING MARKET

THE coming-to-market of the bountiful Dragon Gas field was always dependent upon Venezuela’s rogue leader Nicholas Maduro playing nice guy with the United States.

But, true to form, Maduro has fallen back on his default position of rigging presidential elections to stay in power.

The Venezuelan Supreme Court, which Maduro controls, has blocked opposition presidential candidate Maria Corina Machado from contesting the election, which is due this year.

Now US counter-action against Venezuela may serve to skittle the Dragon Gas deal on which Prime Minister Dr. Keith Rowley has pegged his general election economic agenda.

The expected financial bounty from the gas project is Rowley’s primary canvassing issue.

The US said in a statement on Saturday that it is “reviewing our Venezuela sanctions policy…”

That means the Americans are likely to re-impose the tough blockade on financial dealings with respect to Venezuela’s oil and gas sector.

One result would be no dinero for Trinidad and Tobago from Dragon Gas’ 4.2 trillion cubic feet.

The US State Department said that barring Ms. Machado from contesting the election “runs contrary to the commitment made by Maduro and his representatives.”

The dramatic development in Caracas is echoing in Washington and would soon resonate in Port of Spain.

The issue could set back Rowley’s election timetable – the whole blinking market, to copy Nadia Batson’s melodious soca anthem.

In recent weeks, the Prime Minister has quickened the pace of infrastructure improvement, even using limestone to make up for the shortage of material.

Various projects are being commissioned or launched, and contractors are being urged to speed up public housing construction.

Constituency officials have been mandated to begin the search for candidates, and retiring National Gas Company President Mark Loquan is favoured for a safe seat.

The constitutional reform talks are meant to give the Government bragging rights about post-election plans, similar to the Tobago autonomy legislation.

The ruling People’s National Movement – which rose from a $4 million debt in 2010 – has launched its Balisier House tower, built at a cost estimated at up to $100 million.

The Prime Minister’s latest trip to the US would lead to an assurance that the Americans would assist T&T’s anti-crime struggle, hopefully giving breathing space to the Government.

And now Rowley’s carefully laid election plans could be wrecked by the ever-repressive Maduro.