The Tribune

By DANA SMITH dsmith@tribunemedia.net THE Bahamas Petroleum Company will begin drilling for oil off Bahamian shores this year, according to a DNA statement released yesterday. Montagu candidate Ben Albury's sources and research revealed the company's (BPC) plans, the party said, adding: "BPC, which was granted a new series of agreements and permits from the previous government in 2005, will begin drilling this year." They were further informed, they said, that BPC has been "encouraged not to begin drilling" until after the general election. Environment Ministers Earl Deveaux and Phenton Neymour have denied the claims of oil drilling, Mr Neymour stating it's "not something they want to explore". Yet the DNA claimed Mr Deveaux "gave misleading remarks" suggesting a moratorium on offshore drilling permits. His remarks led "most Bahamians" to believe oil exploration was unlikely in the near future; however, the minister "did not share with the general public that the government's moratorium did not apply to existing permits" like BPC's, they continued. "The Bahamian public should know that there are 12 undisclosed companies, primarily based in China, that BPC has been petitioning to drill in the Bahamas," the statement said. "In BPC's offer to investors (found on bpcplc.com), they describe the Bahamas as a 'giant oil reserve in the making' further bragging about 'attractive fiscal terms, like low royalties and no corporation taxes'." In order to "raise public awareness" and "protect the interest of all Bahamians," Mr Albury and the DNA demanded to know why Bahamians are not aware of the alleged drilling, how Bahamians will be protected from risks, how the Bahamas will benefit from the drilling, and if China is benefiting. Mr Deveaux said the government's stance on oil drilling "hasn't changed". "The Bahamas has a moratorium in place and it will remain in place," he said. Environment State Minister Phenton Neymour also denied the drilling claims and said he would not comment further until he personally sees the DNA's statement.