Feedupwiththerubbishprinted 11 years, 9 months ago on YOUNG MAN'S VIEW: Selling off Bahamian oil
YOUNG MAN'S VIEW: Selling off Bahamian oil
I often read both the articles in the Tribune and Nassua Guardian that report on the hot topic of oil exploration. Whilst I appreciate your perspective of wanting as much as possible for the people of the Bahamas your articles are often littered with errors and falsify the real facts. It's very disturbing being an oversees investor in what if we are frank is a country on the brink of disaster. Foreign investment in your country is crucial, it always has been and always will be. There needs to be some rationale around the points raised, the fat cats already want a piece of the pie before it's been baked. Some of the prominent figures in the Bahamas should be ashamed of the way they are dealing with a foreign investor. Let's not forget the negotiators representing the Bahamas never had a gun to their head when the contracts were agreed. BPC has done an exceptional job in piecing together what was originally a very muddled puzzle. They spent $50M of foreign investment getting the Bahamas to a point where they are nearly ready to explore for oil. I never heard no cry's of foul play then. Whilst the Bahamas hangs on the verge of disaster your Caribbean neighbours are using your God given natural resources to get themselves out of the hole. The Bahamas is an oil virgin so can not demand similar rates to countires with prooven reserves that are already producing oil in commerial quantities. That is an attracive investment to an oil company which would not be soo impressed with what the Bahamas currrently has on offer. The recent statement by the Chuch of an additional sovereign wealth fund being setup that distributes $100,000 to each Bahamian household per year, that is plain and simply ludicrous, your country would implode within a decade maximum. How about one of your journalists actually reports the facts on BPC, who their executive board are etc, why have they not been invited in to discuss their operations. It's all very easy to bad mouth someone without actually meeting them. You obviously have done little reseach, the board of BPC is extremley well educated in the exploration of oil and sometimes as a country the size of Bahamas can vouch, small is sometimes better. Look after your national interests for sure, make sure the gov't is accountable but before you report on foregin investors tread carefully, from the outside the Bahamas is rubbishing what is the golden egg, their opportunity to independence and what will ultimately be their survival. Report the facts and not an opinion ! All the way from the cold cold place that is Lonon.
laallee 11 years, 9 months ago on YOUNG MAN'S VIEW: Selling off Bahamian oil
YOUNG MAN'S VIEW: Selling off Bahamian oil
Adrian, great rhetoric mate but please do some homework. Your beloved government have messed about for two years, yes two years. Both the fnm and the plp have reneged on the contract with bpc, do you think they can have there pick of the biggest oil companies in the world when they are incapable of adhering to a contract written up by your own prime minister. It's good how you seem to love the Norwegian attitude, do you realise they have an income top tax rate of 47percent, vat at 8-20 percent and the highest fuel prices in Europe. Is that what you want? Finally, you compare what the Bahamas is getting out of the deal compared to other countries. They are getting a percentage of nothing if no oil is found, at no cost and they have been getting the licence fee paid as agreed. No doubt if oil is found then the gvt might negotiate better rates for further licences. If you want your country to get more from the possible oil,why not invest the country's cash in exploration, oh dear, it's too expensive. That's why it is high risk penny shares that raise the big bucks then try and attract further investment to drill. Have you ever invested in a small company? Have you ever witnessed a greedy man wanting something without paying for it? Your argument is littered with rumour and assumption, if you want the lions share then take the lions risk, your government will risk alienating itself from future foreign investment if they carry on messing about. Yes, I am an investor in bpc and yes my hard earned cash has got your country somewhere down the road to possible financial independence. I expect a return on my investment, you want something for nothing.
BPCInvestor 11 years, 9 months ago on YOUNG MAN'S VIEW: Selling off Bahamian oil
YOUNG MAN'S VIEW: Selling off Bahamian oil
I too am an investor in BPC. I was going to reply to this article but I believe Laallee has pretty much said it all. Especially the part about doing some research. I would only add that if you have a problem with how things are being done, talk to your government. BPC are, after all, only playing by their rules.