Collin, I never said we shouldn't have the proper legislation in place or appropriate regulatory bodies to oversee BPC activities. I do know as fact that both parties will continue to be faced with growing populations and the ever diminishing returns from our traditional industries and in a desire to remain in power they will be forced to explore diversifying the economy beyond lip service. Being a former well placed FNM for almost a decade I know their psychological obsession with denying the PLP cronies any foothold on the larger economy. So I am convinced if they hadn't been out maneuvered on this oil issue in 2007 by the PLP’s signing a deal with BPC; the FNM would have rushed to give away the rights to some foreign entity if only to block the usual PLP suspects from the from taking full advantage of it. In fact the FNM did a lot of foot dragging so the initial deal would expire so they could rework it to their advantage. Unfortunately we can sit around and debate it until the cows come home for none of it will matter if Cuba finds oil before us for there will be rigs off our coast and we won't control how they are operated and what safety standards are being observed on them.

Concern, I'm not going to be as bold as you to say where oil is or isn't, because the science of detection and drilling technology has made vast improvements over the decades and will continue to do so proving many wrong. In fact same was said about Ghana's and Brazil's folly not too long ago, but low and behold both have struck significant reserves in recent times. I could careless about dry wells also, it's part of the business most of the time you hit dry wells, but if or when they hit a vain we don't want to standing around with sad faces wishing we'd pursued it. BP or any other major oil company after the Gulf rig disaster don't want to be in 1million miles of the US coast. Only the Chinese and Russians are willing to risk it right now, but they'll all come running if a big enough field is discovered. As for BPC they're speculating Wildcatters and would sell the lease rights for Billions and move on if they hit black gold.

I do agree about 5yrs after Cuba's opening up to the US the Bahamas tourism will be hit hard, there is little or nothing we can do about that now except pray it isn't soon. For every beautiful woman I'll show you a man whose tired of sleeping with her, and Cuba will be that cheaper new sexy thang to Americans when that day comes.

The whole immigration system is a joke: recently a friend of mine interviewed for a major multinational company job back home, she ask if her compensation package would be based on being considered the same as an ex-pat, and they said no because she was Bahamian she couldn't expect housing, schooling and re-location allowances. Even though she is a legal resident of the US and would have to move her family back to the Bahamas to take the job. The job will now most likely be filled by a foreign worker needing a work permit to boot, and they'll get all those benefits included. You guys can't be serious about building a nation that benefits the people of it if in this day and age current immigration policy allows them to get away with this foolishness.

Standing Ovation!!!!!!

Here we go again, Mr. Cash does make some valid points about having proper regulation legislation in place, but his motives are purely politically driven. We all know why the rush, after the last FNM term when a frenetic pace of deal signing with both local and foreign entities locking the Bahamian people in for to costly decades of monopolistic and one sided deals the PLP now feels compelled to push their agenda full speed ahead. After 2 one term administrations both these relic parties will continue to govern at break neck pace going forward to ensure they and their benefactors get theirs during their short 5 year stints in office. This can be very dangerous, but not entirely a bad thing for progress within the country since we culturally like to proceed with extreme caution and a let somebody else do it first attitude in a world that is moving at break neck speed around us.

For those who think for one minute the FNM’s policy on whether or not to drill for oil would be markedly different than the PLPS you my friends are sorely mistaken. For they understand that if there is oil underneath any part of the seabed controlled by us we'd better exploit it before the Cubans strike it first and expose us to same level of environmental contamination risk without us getting any of the rewards. Besides tourism and banking are continuing to reap diminishing returns for our growing population; they aren't too many Baha Mars and Atlantis' around the corner and the pressure from the larger nations’ tax authorities will continue choking financial services to death.

Are you serious? This isn't international drug trafficking proceeds we’re talking about here, these would be funds from a business activity that would’ve been deemed lawful either by a change in legislation or a decision by the courts. It happens all the time in nations all over the world. It amazes me how some Bahamians fear of the US is irrational sometimes, they don't care as long as Americans aren't encouraged to participate in our local online gambling operations by using their US based credit cards .

If the Bahamas or any other nation were to ask the US for card blanch banking information on its' citizens banking activities in the US they would be laughed right out of the offices of the US authorities. They'd say the cost would be too prohibitive to their banks to report to IRS along with other jurisdictions tax authorities and a violation of an individual’s 4th amendment rights of illegal search. We need to grow a pair and stand our ground with our collective neighbours. Yes provide information when presented with evidence of criminal acts, but every nations tax collection is their problem alone to solve. Open this flood gate and the Europeans and BRIC nations will follow bringing to an end an already ailing banking industry. Then what all those well paid Bahamians will go work for the government or Baha Mar I guess?

I have been screaming for this kind of new technology push. We desperately need honest attempts to innovate our economy, banking is dying on the vine for better part of a decade and FACTA will see to hastening its demise.

Concerned, all you mentioned got their start in 70s name some new upstarts post 1990 who didn't inherit it or got a leg up from family or direct political connections. I know many of these gentlemen personally and most of the young professionals are extremely frustrated by the lock on the economy the established merchant class has in the most lucrative and strategic business sectors. We have tried to emulate those examples of us who had been disenfranchised prior to '67 who got a break in early days after independence, but now they have gotten up on high and they’ve kicked down the ladder too. These local robber barons make the pre-antitrust Rockefellers, Carnegies and JP Morgans of the world look like saints. Virtually the same cabal of individuals control all the commercial waterfront property, most of the strategic retail space, almost all the real estate firms of consequence, most of the large influential legal firms, all the major wholesale providers, most of shipping means to import goods, all of the insurance companies, most of the legitimate press outlets and have undue influence over the banks and politicians, need I go on?

Since the early ‘80s our governments have sided with the established merchant class and a few select usual suspects, and have been primarily set upon an agenda of providing jobs not fostering start-up entrepreneurial opportunities for the new blood. Let me tell you that all you mentioned with the exception of Diaguilar I know personally and most admit in private they got help or assistance from the governments of the day and other forces who were trying to co-op them in the political process. Try becoming a serious competitor in the Communications, Shipping, Large Construction, Food Wholesale, Real Estate Development, Fuel & Energy, Insurance, Accounting, legal, Medical Supply or Financial Services etc... industries and you'll see how much clout they have to crush your ambitions. I have tried along with many of my peers and because we don't have a truly free market economy. It's more of managed one where the government protects the existing oligopolies and monopolies thus igniting the brain drain that is now taken hold since the mid '90s.

@ Loudfnm, You still believing it has to be either the PLP or FNM when next time more and more younger voters will abandon both for what ever viable alternatives present themselves. I also am still laughing you alluding to the failed token efforts both PLP/FNM throw mindlessly at without any real conviction to stimulating new start-up local business ventures. When we all know they both spend most of their resources and time pandering to foreign investors, the established merchant class and their political cronies. Let's wake up if a semi-educated buffoon is the best we can do then we should be ashamed of ourselves after 40 years of independence. Finally besides those in the numbers game name one poorer Bahamian that has been made in to a major economic player in the last 12 years? If you can’t then it's becaise both the PLP/FNM have failed the younger generations.