Showing posts with label Bahamas oil. Show all posts
Showing posts with label Bahamas oil. Show all posts

Saturday, January 23, 2021

Offshore oil exploration and drilling in The Bahamas - The politics, news, notes, perspectives and opinions...

Some Background Information on the Offshore Oil Exploration and Drilling Issue in The Bahamas.



Offshore Oil Drilling Bahamas


THE local environmental advocacy agency reEarth launched an Online petition calling on the government to stop all oil exploration in The Bahamas, and to never issue permits for drilling. - May 10, 2010


THE BAHAMAS GOVERNMENT has suspended the consideration process for all oil exploration and drilling applications until the country has stringent environmental protocols in place to mitigate against a catastrophic oil well leak. - August 31, 2010



Shares in the company dedicated to drilling for oil in The Bahamas have tumbled after the surprise announcement that the Bahamian government was suspending consideration of exploration licences. - September 02, 2010

* “The Bahamas, a giant oil province in the making”. - May 23, 2011

The Democratic National Alliance (DNA) has tried to gain political mileage by stirring up a controversy over oil exploration in The Bahamas. - March 21, 2012

* Prime Minister Hubert Ingraham said there would be no oil drilling in Bahamian waters if his party is re-elected to office. - April 19, 2012

Bahamas Petroleum Company (BPC) stock has lost a fourth of its market value on the heels of a declaration from Prime Minister Hubert Ingraham that his government would not allow BPC to drill for oil. - April 21, 2012

* The Free National Movement (FNM) said, that if the Progressive Liberal Party (PLP) is re-elected, its leaders’ ‘relationship’ with the Bahamas Petroleum Company (BPC) would impact whatever decision they make in relation to the company’s bid to drill for oil in Bahamian waters. - April 24, 2012

Prime Minister Hubert Ingraham: ...we were shocked to learn that Opposition Leader Perry Christie is an adviser to the law firm that represents the Bahamas Petroleum Company that expects to receive licences shortly to start drilling for oil in our waters. This is probably one of the most important decisions that the next administration will have to make.


The law firm of Philip “Brave” Davis is listed as BPC’s lawyers with Mr Davis, deputy leader of the PLP, having retained Mr Christie as a BPC adviser.
 - April 25, 2012


Prime Minister Hubert Ingraham turned up the heat on Progressive Liberal Party (PLP) Leader Perry Christie, accusing him of being a lobbyist for the Bahamas Petroleum Company (BPC), which wants to drill for oil in Bahamian waters. - April 26, 2012


THE Democratic National Alliance (DNA) is calling for the resignation of PLP leader Perry Christie over his connection to the Bahamas Petroleum Company. - April 27, 2012


Progressive Liberal Party (PLP) Leader Perry Christie backtracked from a statement he made a week ago confirming that Bahamas Petroleum Company (BPC) was benefiting from advice he was providing as a consultant for Davis & Co. law firm. - April 27, 2012


The response of the Progressive Liberal Party (PLP) deputy leader; Mr. Philip “Brave” Davis - to the question of conflict of interest in relations to his law firm’s connection to the Bahamas Petroleum Company (BPC), instigates more questions than answers. - April 29, 2012

Opposition Leader Perry Christie confirmed to The Nassau Guardian that he served as a legal consultant to Bahamas Petroleum Company (BPC).

He stated, “I consult on work the firm deems I am qualified by the office I’ve had, with the knowledge that I have in terms of government.” - May 03, 2012


Setting the record straight on oil exploration in The Bahamas. - May 11, 2012


THE Bahamas Chamber of Commerce and Employers Confederation (BCCEC) supports permitting oil exploration in this nation's waters once regulatory safeguards were in place, telling Tribune Business potential earnings could "eliminate the National Debt in five years". - May 18, 2012

Applied Drilling Technology International (ADTI), the company hired by the Bahamas Petroleum Company (BPC) to plan and execute an exploratory well in Bahamian waters says it believes it will be drilling by the end of next year. - May 25, 2012

While a referendum on oil drilling is not currently the priority of the Bahamas government, Prime Minister Perry Christie told The Nassau Guardian he remains committed to such a referendum. - August 13, 2012

THE promised referendum on oil drilling in The Bahamas. - September 05, 2012


The International Monetary Fund (IMF) says the size of any oil deposit lurking beneath Bahamian waters is essential to any decision on whether to commence commercial drilling.  September 10, 2012

The Bahamas cannot wait and count on prospective oil resources to become self-sufficient. - September 11, 2012

WITH the Bahamas Petroleum Company fulfilling all its required licence and regulatory obligations for another three year licence, FNM Leader Dr Hubert Minnis called on Prime Minister Perry Christie yesterday to find the “testicular fortitude” and make a decision with regards to the licensing of offshore oil drilling without having to “pass the buck” to the Bahamian people via a national referendum. - September 11, 2012

* Despite a long history of exploration in The Bahamas, the substantial risks of petroleum exploitation only gained prominence following the worst oil accident in history – the Deepwater Horizon blowout in the Gulf of Mexico in 2010. - November 02, 2012

* Before the Bahamas Environment, Science and Technology (BEST) Commission completes its report on the potential for the Bahamas Petroleum Company (BPC) to drill oil in The Bahamas, the government will present an oil referendum to Bahamians, according to Environment Minister Kenred Dorsett. - November 13, 2012

Progressive Liberal Party (PLP) Senator Jerome Gomez said yesterday that he plans to vote yes when the government brings a referendum on whether or not the country should drill for oil. - December 07, 2012

Business leaders are urging the government to treat the gambling issue as a learning experience for the upcoming oil drilling referendum. - January 30, 2013

Kenred Dorsett, Minister of the Environment and Housing said:  ...THE Government will allow exploratory drilling to determine whether there are commercial quantities of oil in the Bahamas prior to any referendum. - March 11, 2013

THE Opposition - Free National Movement (FNM) has vowed to do everything in its power to block exploratory oil drilling in The Bahamas before comprehensive regulations are put in place and unless there is full disclosure of any relationship between the oil industry and senior PLPs. - March 15, 2013

If Bahamas Petroleum Company’s (BPC) calculations are correct, there is a super-giant oil field lying beneath Bahamian waters. - March 18, 2013

* Craig Butler, a well-known attorney - said The Bahamas had done an “ass backwards” job in negotiations with the Bahamas Petroleum Company (BPC), arguing that the country should receive “no less than 60 per cent” of the proceeds if commercial quantities of oil were discovered. - March 22, 2013

Perry Christie’s lack of transparency on certain issues is as murky and as dense as an oil slick.  When did he become a consultant to Bahamas Petroleum Company - BPC?  How much was he paid?  How often did they consult with him? - April 04, 2013

Efforts to find oil off Cuba may have failed, but the Bahamas Petroleum Company (BPC) – the only explorer searching for oil off the Atlantic archipelago – says it expects to find crude oil in The Bahamas. - April 22, 2013

* Now, while Bahamians are discussing oil from the perspective of a countrywide get-rich-quick-scheme, many of them haven’t considered the environmental ramifications, how Bahamas Petroleum Company - BPC will likely go about getting it and/or a thorough examining of the peripheral issues related to oil drilling. - May 06, 2013

Prime Minister Perry Christie denied that his administration has flip-flopped on the oil drilling referendum. - May 12, 2013

The Bahamas Petroleum Company (BPC) will not be permitted to drill any exploratory wells in Bahamian waters until the regulations that will oversee the industry are completed. ...

According to Minister of the Environment and Housing Kenred Dorsett, these regulations will not be completed before the end of the year. - July 31, 2013

* The Bahamas National Citizens Coalition (BNCC) has filed an action in the Supreme Court seeking to block the minister of the environment and housing from issuing or renewing any oil exploration licenses. - August 07, 2013

The Bahamas government is being advised to move quickly to update the terms of its agreement with Bahamas Petroleum Company (BPC), which have been dubbed by BPC itself, in addition to by local and international oil industry watchers, as extremely favorable to the company. - September 24, 2013

* “troubled” by Bahamas Petroleum Company (BPC) CEO Simon Potter’s recent comments that the financial terms his company “tied down with the Bahamas Government are second to none.” - September 26, 2013

* Mr Simon Potter, Bahamas Petroleum Company - BPC’s chief executive expressed hope there would be enough Bahamian investor interest to indicate “a momentum of support” for BPC and its oil exploration activities in The Bahamas.  - Oct 02, 2013

The Bahamas National Trust (BNT) says NO to Oil Drilling In The Bahamas. - November 27, 2020

* ...
“if they find oil” we’ll negotiate a royalty! - December 23, 2020

Saturday, February 2, 2013

Kenred Dorsett, the minister of the environment and housing - said that he could not confirm a date for the oil drilling referendum ...as Prime Minister Perry Christie has yet to make a formal decision on the matter

Dorsett: No timetable for oil referendum

Minister committed, however, to building political consensus prior to vote


The oil drilling question in The Bahamas

BY JEFFREY TODD
Guardian Business Editor
jeffrey@nasguard.com




The government has no specific timeline for an oil drilling referendum, according to the Ministry of the Environment.

With the country still buzzing from this week's gambling referendum, many Bahamians are wondering when oil exploration will once again be placed on the radar.

Kenred Dorsett, the minister of the environment and housing, said he could not confirm a date for the referendum, as Prime Minister Perry Christie has yet to make a formal decision on the matter.  However, he did note that the government is seeking to develop a more formal consensus on oil exploration before a vote goes to the people.

"I'm not sure if it will be a summer referendum.  I don't know when it will take place," he told Guardian Business yesterday.  "But I do hope there will be a consensus on the issue.  There are members on the other side that who tell me we should be drilling now.  I think, as a minister responsible, I am mandated to ensue there is a current balance, particularly as we look at those efforts."

He added that the government is "getting to the point" where some of the proposed regulations on how to remodel the industry may come to fruition.  After that, he told Guardian Business there would be a "broad discussion" on the issue of drilling in The Bahamas.

The minister's comments come shortly after business leaders expressed hope that the government would approach the oil drilling referendum "differently" than gambling.

While the "Vote No" campaign was victorious last Monday, observers noted that low turnout and general apathy impacted the democratic process.  The government was frequently criticized for being unclear in the referendum questions and failing to introduce specific legislation to back up the possible legalization of gaming.  The vote also became highly politicized, promoting rival parties to endorse opposing views.

"Oil drilling is not a moral or religious issue, it will be a matter of whether you can explain the economic advantages and technical reasons why the environment can be protected," said Richard Coulson, a well-known financial consultant.  "If those points can be explained, there should be no problem."

Peter Turnquest, the minister for East Grand Bahama, urged the government to bring forth legislation in the event of a yes or no vote for oil drilling to build a consensus in the House of Assembly.

After that, the government can embark a "period of education" for the general public.

In regards to public confusion and politicizing of oil drilling, Dorsett told Guardian Business: "I don't want that to happen."

But he stopped short in saying the government would bring forth specific legislation in the House of Assembly.

Guardian Business understands that the issue must be revisited by the prime minister before any decisions can be made on the future of oil drilling in The Bahamas.

February 01, 2013

thenassauguardian

Wednesday, September 12, 2012

NO to oil drilling in Bahamian waters...

Caution needed on the oil drilling issue


Dear Editor,


With the recent announcement that Bahamas Petroleum Company has been granted a three-year license extension, it seems as if this government is moving full steam ahead with plans to facilitate a referendum which, if passed, will allow oil drilling in our waters.

NO to Oil Drilling in The Bahamas Waters

I sincerely hope that if this happens, we will not allow the possible financial gains to cloud our judgment.  When making decisions, the wise thing to do would be to look at the risks versus the rewards.  In this case, I think the risks far outweigh the rewards.

Not so long ago, we witnessed first-hand the worst oil spill in history in the Gulf of Mexico and saw the catastrophic results it has brought on the environment.  Here are some horrifying facts to think about:

1. It is estimated (conservatively) that between 17 and 29 million gallons of oil spilled into the Gulf.

2. The National Wildlife Federation reports that already more than 150 threatened or endangered sea turtles are dead, and 316 sea birds, mostly brown pelicans and northern gannets, have been found dead along the Gulf Coast as a result of the spreading oil.

3. As much as we’d like to forget it, we live in a hurricane zone, and if a storm blows in, the result could be devastating.  The presence of oil could lead to a more powerful hurricane because crude accumulating at the surface could be raising the temperature of the surrounding water.

4. Approximately 70 cents of every dollar we spend is derived from tourism.  If we were to have an oil spill in our waters, this would devastate the tourism industry.

5. The great United States of America with all the technology and resources available to it could not contain this oil spill for months.  Could you imagine what would happen in our case, with little to no resources to deal with this kind of catastrophe?

With this knowledge, it is mind-boggling that any Bahamian government would even consider this undertaking.  I understand that this administration is under tremendous pressure to create jobs, but please don’t allow the greedy oil companies to destroy this country.  Future generations are depending on you, Mr. Prime Minister to make the right call on this one.

 

– Ervin Missick

Sep 12, 2012

thenassauguardian

Monday, August 13, 2012

The Christie-led government has remained noncommittal concerning oil drilling in The Bahamas


Bahamas Petroleum Company (BPC)


PM still committed to referendum on oil drilling


By Candia Dames
Guardian News Editor
candia@nasguard.com


While a referendum on oil drilling is not currently the priority of The Bahamas government, Prime Minister Perry Christie told The Nassau Guardian he remains committed to such a referendum.

But he said “there would have to be serious indications that there is oil and natural gas in commercial quantities”.


“I committed my party to if we are going to have oil drilling in The Bahamas while we are in power, we will do so by seeking the support of the people of The Bahamas, so the answer is yes,” said the prime minister when asked recently by The Nassau Guardian whether the referendum was still planned.

He said,  “One of the dangers for The Bahamas is that concessions are being given to explore in the same area by the Cuban government and it would be a very interesting development as they are in a position to start exploring and digging a well before us.

“If they were to find a well then it makes it almost a compelling case for The Bahamas having to do the same thing.   And so, we’re not going to look a gift horse in the mouth and play crazy with it.

“But at this particular time we have to continue to assess where we are on that subject matter to see whether in fact the company (Bahamas Petroleum Company) is in a position to finance drilling because it’s a huge sum of money involved in that.

“This is not a $50 million or $60 million kind of enterprise.  This is a hugely expensive enterprise, particularly with the environmental safeguards that should be in place.

“And so, at some stage or the other the company will come forth to us to say,  ‘listen, we are ready to do the following things and this is the evidence we have that you have fossil fuels there’ and we’ll see.”

Bahamas Petroleum Company (BPC) has committed to spudding its exploratory well in Bahamian waters by April 2013, although recent reports from the company indicate this drill date could be pushed back later in the year.

BPC is looking to bring on an operational and equity partner for the drill, The Nassau Guardian previously reported.

The Christie-led government has remained noncommittal concerning oil drilling in The Bahamas.

“We do believe that the Bahamian people ought to be consulted,” said Kenred Dorsett, the minister of the environment, previously.  “Whether it goes the extent of a referendum, that will have to be determined based on the costs.  That is a matter for the Cabinet to decide.”

Prior to the election in April, the previous government suspended BPC’s oil drilling licenses. There has been no formal announcement from the new government as to whether these licenses have been renewed.

The Christie administration has also committed to a referendum on gambling, which the prime minister has said will be called by the end of this year; and a constitutional referendum on citizenship matters, which the government intends to call before the end of the term.

Aug 13, 2012

thenassauguardian

Thursday, May 3, 2012

The Progressive Liberal Party (PLP) statements on oil drilling in The Bahamas appear to be more equivocal than the Free National Movement (FNM) government... ...Comments from former Cabinet minister Leslie Miller have not added clarity to the opposition’s view on this matter...

The question of oil drilling


thenassauguardian editorial


Whether or not to drill for oil in The Bahamas is a complex and multifaceted issue requiring extensive study and an open and transparent public debate.  As the role of the government will be critical in this process, the major parties have an obligation to clearly outline their full views on the matter in the lead-up to Election Day.

Two weeks ago, Opposition Leader Perry Christie confirmed to The Nassau Guardian that he served as a legal consultant to Bahamas Petroleum Company (BPC).

He stated, “I consult on work the firm deems I am qualified by the office I’ve had, with the knowledge that I have in terms of government.”

He further stated: “If there is an issue they need advice on, whether or not they need someone to speak to the issue of environmental impact [studies], the issue of whether or not in my judgment a matter is worthy for the government to approve, whether or not an application is ready, whether or not they should employ and who should go on the board of directors, whatever views they ask of the firm, in the event that firm regards it as necessary, they would consult me on it.  Those are the services I provide.”

One must presume that Christie was paid for this consultancy work.

A week later, we reported that Christie backtracked on his original statement to this newspaper saying that his consultancy with BPC ended some time ago, but he did not provide a date as to when.

Voters must have no doubt as to whether any of the major parties and their leaders will have a conflict of interest on the matter of oil drilling.

We note that Progressive Liberal Party (PLP) Deputy Leader Philip Brave Davis, the principal of Davis & Co., serves as a legal consultant to BPC.  He would likely serve as deputy prime minister in a Christie government.

For his part, Christie needs to answer why he backtracked on his original statement.  He must also answer a series of other questions raised by the consultancy relationship with an oil company to which his former government gave exploration licenses, and which a possible future government of his will be asked to provide additional licenses for exploration and drilling to the very same company.

Various characterizations have been made of Christie’s consultancy and his mixed statements on his work on behalf of BPC through Davis & Co.  Christie will need to address a number of these.

Prime Minister Hubert Ingraham has noted his party’s position: “I have said before, in the media and in the House of Assembly – a government led by me will not agree to any drilling for oil in The Bahamas until all necessary and appropriate regulations are in place and until we are fully and competently in a position to regulate such activity so as to protect our environment and that of the world’s ocean beyond from harmful and risky activity in our country and in our waters.

“I am not unmindful of what happened in the gulf off the coast of Louisiana just two years ago.  And certainly we do not have the resources, human or financial, nor the billet, to respond as the United States government responded.

“We are not now in a position to so regulate and oversee drilling operations in our waters.”

The PLP’s statements on oil drilling appear to be more equivocal than the government’s.  Comments from former Cabinet minister Leslie Miller have not added clarity to the opposition’s view on this matter.

The general election is less than a week away.  Unexpectedly, the question of oil drilling may play a decisive role in its outcome.  It is a question with many facets such as economic development, environmental protection, and accountability and transparency in government.

Even as the parties address other issues, they will have to speak more to the issue of oil drilling.  This includes safeguarding a transparent governmental process on such a critical issue and crystal clear clarity on any conflict(s) of interest.

May 03, 2012

thenassauguardian editorial

Saturday, April 28, 2012

Resignations sought for the Progressive Liberal Party (PLP) Leader; Perry Christie ...and Deputy; Philip "Brave" Davis ...over their connections to the Bahamas Petroleum Company (BPC)... ...The company wants to drill for oil in The Bahamas - in the face of widespread environmental concerns


DNA Demand Christie's Resignation





By DANA SMITH
dsmith@tribunemedia.net



THE DNA is calling for the resignation of PLP leader Perry Christie over his connection to the Bahamas Petroleum Company.


DNA deputy leader Chris Mortimer, Montagu candidate Ben Albury and a group of party supporters staged a demonstration yesterday morning outside the Office of the Opposition on Parliament Street.

They were protesting recent media reports that quote Mr Christie as stating the law firm representing BPC had consulted with him at some point in the past.
Davis & Co, the law firm of PLP deputy leader Philip "Brave" Davis, represents BPC along with Graham Thompson & Co.
The company wants to drill for oil in the Bahamas, but the DNA and others have raised environmental concerns.
Mr Albury said: "Mr Christie is the one who said he's involved, he admits to being a consultant . . .
"I would for like to ask Mr Christie to do the honourable thing and step down as leader of the opposition and resign as a candidate for Centreville."
Mr Albury added that Mr Davis should "definitely step down" as well.
Mr Christie could not be reached for comment, but Mr Davis denied there is any conflict of interest.
"How does it become a conflict? I'm not in government. When I'm there, then the question might arise, then I'll know what I have to do," he said.
April 27, 2012

Thursday, April 26, 2012

Will the Drilling For Oil Issue Decide This 2012 General Election?



Oil Politics Bahamas



Will Drilling For Oil Decide This Election?


tribune242 editorial


 
 

“The approval of drilling for oil in the pristine waters of The Bahamas is among the most momentous decisions that any Government of The Bahamas will ever have to make,” Prime Minister Ingraham told Grand Bahamians at a rally last night.


“This decision by your Government should never be influenced by any financial relationship that exists between the company seeking the permit and its paid consultants and attorneys.

“It is a decision with wide ramifications that will affect the very nature and essence of who we are as a country,” he said.

This is why we were shocked to learn that Opposition Leader Perry Christie is an adviser to the law firm that represents the Bahamas Petroleum Company that expects to receive licences shortly to start drilling for oil in our waters.  This is probably one of the most important decisions that the next administration will have to make.

The law firm of Philip “Brave” Davis is listed as BPC’s lawyers with Mr Davis, deputy leader of the PLP, having retained Mr Christie as a BPC adviser.

“If there is an issue they need advice on,” said Mr Christie, “whether or not they need someone to speak to the issue of environmental impact (studies), the issue of whether or not in my judgment a matter is worthy for the government to approve, whether or not an application is ready, whether or not they should employ and who go on the board of directors, whatever views they ask of the firm regards it as necessary, they would consult me on it. Those are the services I provide.”

No matter how much these men might assure Bahamians that the best interests of the country will come first should they become the next government, which one of you would trust such an important decision to them? Wasn’t it Mr Christie who found every excuse in the book to absolve his ministers of their transgressions when they should have been fired? The Greenberg, Quinlan, and Rosner report attributed the PLP loss of the 2007 election to Mr Christie’s perceived weakness and scandal-ridden government.

These are not qualifications for a second chance

April 25, 2012

tribune242